The Effects of Network on Exports of Petroleum Refinery Goods in Korea

Abstract

This paper uses the 1980-2003 data to estimate the effects of the network structure on the exports of Korean petroleum refineries. This paper reports three gravity and H-O models with or without a network of petroleum refineries to demonstrate the effects of the network structure on the export of petroleum refineries. The network structure of the petroleum refinery increases the importance of the H-O model, but the effects of the network structure decrease over time. This means that when the network structure of most energy products is more concentrated (higher level) than all other manufacturing products, the different endowment ratios play a more important role in exporting most energy products than other manufacturing products in South Korea.