Theodore PELAGIDIS
Professor, University of Piraeus & NR Senior Fellow, Brookings Institution, US. 21, Lambraki Ave.,GR-18533
pelagidi@unipi.gr
Evgenia TSAHALI
University of Piraeus,
evgtsahali@yahoo.gr
Abstract
The aim of this paper is to investigate the correlation between the Baltic Dry Index (BDI) and certain leading economic indicators. We follow a different path than the existing literature follows. In particular, using a multi-linear regression method and defining the BDI index as a dependent variable, we seek to determine the multiple relations of the independent variables regarding the BDI value. We are looking at whether the BDI is a representative indicator not only for the shipping industry itself, but also for the whole economic and financial environment in which the shipping industry operates.
Keywords: Transportation Economics, General Financial Markets, Financial Securities
JEL classification: R4, R42, G1