Connectedness between climate variables and maritime markets: Time-varying dynamics and sustainability perspective
Küçük Resim Yok
Tarih
2025
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Pergamon-Elsevier Science Ltd
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study examines the impact of sea surface temperatures and global temperature anomalies on maritime markets using the TVP-VAR based Connectedness Decomposition Approach. The results indicate that tanker markets (BDTI and BCTI) are more sensitive to climate variables, while dry bulk markets demonstrate greater resilience. The Total Connectedness Index (TCI) reveals that market integration intensifies during global economic crises and pandemic periods. Findings support a pairwise relationship between freight markets, carbon emissions, and climate variability. In line with the IMO 2023 GHG Strategy, this study proposes short-, medium-, and long-term sustainability strategies to enhance the maritime sector's adaptation to climate policies. The results highlight the crucial role of maritime markets in environmental sustainability efforts.
Açıklama
Anahtar Kelimeler
Maritime markets, Climate variables, TVP-VAR, Connectedness, Sustainability
Kaynak
Marine Pollution Bulletin
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
218
