Publication detail

Model of World Steel Demand – Multiple Regression

LUŇÁČEK, J.

Original Title

Model of World Steel Demand – Multiple Regression

Type

conference paper

Language

English

Original Abstract

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.

Keywords

demand, steel, complemenst, regression, determinats

Authors

LUŇÁČEK, J.

RIV year

2015

Released

11. 11. 2015

Publisher

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

Location

Madrid

ISBN

978-0-9860419-5-2

Book

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

Pages from

1318

Pages to

1330

Pages count

12

BibTex

@inproceedings{BUT129860,
  author="Jiří {Luňáček}",
  title="Model of World Steel Demand – Multiple Regression",
  booktitle="INNOVATION MANAGEMENT AND SUSTAINABLE ECONOMIC COMPETITIVE ADVANTAGE: FROM REGIONAL DEVELOPMENT TO GLOBAL GROWTH, VOLS I - VI, 2015",
  year="2015",
  pages="1318--1330",
  publisher="INT BUSINESS INFORMATION MANAGEMENT ASSOC-IBIMA, 34 E GERMANTOWN PIKE, NO. 327, NORRISTOWN, PA 19401 USA",
  address="Madrid",
  isbn="978-0-9860419-5-2"
}