Model of World Steel Demand – Multiple Regression

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Model of World Steel Demand – Multiple Regression

Popis výsledku v původním jazyce

The aim of this paper is to define factors that crucially influence worldwide demand for steel. The main goal is to calculate multiple factor linear model that would explain the influence of individual variables in global demand for steel. At the same time, this method enables to evaluate mutual relation of individual variables and to define whether there are complements and substitutes for steel. Initial parameters of the model are based on common econometric model of demand. Those ones that represent 2/3 of world output are chosen from macroeconomic figures. These are particularly economies of the US, EU, China and Japan. The results imply that the data sample is not very suitable for complex multiple-factor regression. Nevertheless, this model clearly shows extreme interconnection of world economies and comparatively big sensitivity of demand for steel to random variable, represented by worldwide military expenditures. Positive factors include world production of coal and annual inflation in China. The negative factor is represented by the price of iron ore. These results show that the demand is mostly influenced by price and production of complements.

Název v anglickém jazyce

Model of World Steel Demand – Multiple Regression

Popis výsledku anglicky

The aim of this paper is to define factors that crucially influence worldwide demand for steel. The main goal is to calculate multiple factor linear model that would explain the influence of individual variables in global demand for steel. At the same time, this method enables to evaluate mutual relation of individual variables and to define whether there are complements and substitutes for steel. Initial parameters of the model are based on common econometric model of demand. Those ones that represent 2/3 of world output are chosen from macroeconomic figures. These are particularly economies of the US, EU, China and Japan. The results imply that the data sample is not very suitable for complex multiple-factor regression. Nevertheless, this model clearly shows extreme interconnection of world economies and comparatively big sensitivity of demand for steel to random variable, represented by worldwide military expenditures. Positive factors include world production of coal and annual inflation in China. The negative factor is represented by the price of iron ore. These results show that the demand is mostly influenced by price and production of complements.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

INNOVATION MANAGEMENT AND SUSTAINABLE ECONOMIC COMPETITIVE ADVANTAGE: FROM REGIONAL DEVELOPMENT TO GLOBAL GROWTH, VOLS I - VI, 2015

ISBN

978-0-9860419-5-2

ISSN

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e-ISSN

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Počet stran výsledku

12

Strana od-do

1318-1330

Název nakladatele

INT BUSINESS INFORMATION MANAGEMENT ASSOC-IBIMA, 34 E GERMANTOWN PIKE, NO. 327, NORRISTOWN, PA 19401 USA

Místo vydání

Madrid

Místo konání akce

Madrid

Datum konání akce

11. 11. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000366872700131