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Port capital formation and economic development in Japan: A vector autoregression approach

Author

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  • Tetsu Kawakami

    ()

  • Masayuki Doi

    ()

Abstract

Applying the lag-augmented vector autoregression approach developed by Toda and Yamamoto (1995), we analyse the causal relationships among GDP, private capital, transport user cost, and port capital in Japan, and investigates the dynamic and accumulated effects of port capital formation on other variables from 1966 to 1997. Results from our analysis indicate that the causal relationships between port capital and other variables are significant. Port capital development leads to accrual of considerable magnitudes of both flow and stock effects. We conclude that structural economic effects of forming port capital are substantial for Japan. Copyright Springer-Verlag Berlin/Heidelberg 2004

Suggested Citation

  • Tetsu Kawakami & Masayuki Doi, 2004. "Port capital formation and economic development in Japan: A vector autoregression approach," Economics of Governance, Springer, vol. 83(4), pages 723-732, October.
  • Handle: RePEc:spr:ecogov:v:83:y:2004:i:4:p:723-732
    DOI: 10.1007/s10110-004-0214-2
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    Citations

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    Cited by:

    1. Bottasso, Anna & Conti, Maurizio & Ferrari, Claudio & Tei, Alessio, 2014. "Ports and regional development: A spatial analysis on a panel of European regions," Transportation Research Part A: Policy and Practice, Elsevier, vol. 65(C), pages 44-55.
    2. Park, Jin Suk & Seo, Young-Joon, 2016. "The impact of seaports on the regional economies in South Korea: Panel evidence from the augmented Solow model," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 85(C), pages 107-119.
    3. C├ęsar Ducruet & Hidekazu Itoh, 2016. "Regions and material flows: investigating the regional branching and industry relatedness of port traffics in a global perspective," Journal of Economic Geography, Oxford University Press, vol. 16(4), pages 805-830.
    4. Funke, Michael & Yu, Hao, 2011. "The emergence and spatial distribution of Chinese seaport cities," China Economic Review, Elsevier, vol. 22(2), pages 196-209, June.
    5. Andrew R. Goetz, 2011. "The Global Economic Crisis, Investment in Transport Infrastructure, and Economic Development," Chapters,in: Transportation and Economic Development Challenges, chapter 3 Edward Elgar Publishing.
    6. Tong, Tingting & Yu, Edward & Roberts, Roland K., 2014. "Dynamics of Transport Infrastructure, Exports and Economic Growth in the United States," Journal of the Transportation Research Forum, Transportation Research Forum, vol. 53(1).
    7. Peterson, Steven K. & Jessup, Eric L., 2008. "Evaluating the Relationship Between Transportation Infrastructure and Economic Activity: Evidence from Washington State," Journal of the Transportation Research Forum, Transportation Research Forum, vol. 47(2).
    8. Peterson, Steven K. & Jessup, Eric L., 2007. "Transportation Infrastructure And Economic Activity: Evidence Using Vector Autoregression, Error Correction And Directed Acyclic Graphs," 48th Annual Transportation Research Forum, Boston, Massachusetts, March 15-17, 2007 207917, Transportation Research Forum.

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