Developing an early warning system for the shipping industry in Korea using two approaches

Sunghwa Park, Janghan Kwon and Taeil Kim

Maritime Policy & Management, 2024, vol. 51, issue 7, 1367-1384

Abstract: In this study, we propose an early warning system for the shipping industry in Korea using two approaches. The signal approach and the logit model are used to develop a comprehensive monitoring system. An early warning index based on the signal approach is constructed with 12 indicators. The index shows high accuracy in predicting crises. The logit model is then adopted to enhance the performance of the early warning system. The results of this study show that the complementary use of these two methods can establish an efficient market monitoring system.

Date: 2024
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DOI: 10.1080/03088839.2022.2138596

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