The Implication of Steel-Intensity-of-Use on Economic Development

Harimukti Wandebori () and Murtyastanto
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Harimukti Wandebori: Sekolah Bisnis dan Manajemen, Institut Teknologi Bandung, Jl. Ganesha No. 10, Bandung 40132, Indonesia
Murtyastanto: Krakatau Steel, Jl. Industri No. 5, Cilegon 42435, Indonesia

Sustainability, 2023, vol. 15, issue 16, 1-22

Abstract: This paper identifies statistical relationships between the Steel-Intensity-of-Use and the Gross Domestic Product per Capita based on the data of ten selected countries based on judgmental sampling from the World Steel Association. Economic data such as Gross Domestic Product, Gross National Income, Gross Domestic Product per Capita, government spending, investment, Export of Goods and Services, and manufacturing are obtained. Based on regression analysis and exploration of economic data, the relationship differs in terms of economic development stratification. We find a pattern of a waveform in terms of Correlation and Significance between Steel-Intensity-of-Use and the Gross Domestic Product per Capita along the country’s economic classification. Each classification implies that the country needs to enhance the economy related to the required steel or non-steel-related industry and the accompanying government policy.

Keywords: steel-intensity-of-use; steel industry; economic classification; gross domestic product; economic and policy development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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