A modified regression model for forecasting the volumes of Taiwan's import containers

Authors:
Chien-Chang Chou;Ching-Wu Chu;Gin-Shuh Liang
Affiliations:
Department of Shipping Technology, National Kaohsiung Marine University 482, Chung-Chou 3rd Road, Chi-Chin 805, Kaohsiung, Taiwan, ROC and College of Maritime Science and Management, National Taiw ...;Department of Shipping and Transportation Management, National Taiwan Ocean University 2, Pei Ning Road, Keelung, Taiwan, ROC;Department of Shipping and Transportation Management, National Taiwan Ocean University 2, Pei Ning Road, Keelung, Taiwan, ROC
Venue:
Mathematical and Computer Modelling: An International Journal
Year:
2008

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Abstract

The available empirical evidence on the relationship between international trade container volume and the economic growth in Taiwan is not conclusive. The purpose of this paper is to propose a modified regression model for forecasting the volumes of Taiwan's import containers. This article first identifies the contributions and shortcomings of previous empirical works. Then, a new modified regression model is proposed and built using data for the period 1989-2001. Finally, this paper compares the accuracy of the traditional regression model and this modified regression model for forecasting the volumes of Taiwan's import containers. The results show that this modified regression model proposed in this paper exhibits higher prediction accuracy.