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 ACES  Vol.5 No.1 , January 2015
Analysis of the Chemical Safety Facility Investment Performance in China
Kang Sun, Long Bai, Xiaohong Li
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Abstract: This paper adopts the accident incidence, the gross industry output value, the investment in safety facilities, and per capita wage of employment as the indexes to empirically analyze the investment performance of chemical safety facilities using time series data by VECM in China. The empirical results indicate that for China’s chemical industry, increasing investment fails to improve the short-term safety level significantly because of the offsetting behavior of workers. Over the long term, the offsetting behavior tends to disappear, and the chemical accident incidence can be decreased through increasing investment. Poor safety awareness among workers is one of the causes of accident incidences. The conclusions provide theoretical support for China to perfect chemical industry safety management.
Keywords: Chemical Safety Management, Peltzman Effect, Offsetting Behavior, VECM
Cite this paper: Sun, K. , Bai, L. and Li, X. (2015) Analysis of the Chemical Safety Facility Investment Performance in China. Advances in Chemical Engineering and Science, 5, 102-109. doi: 10.4236/aces.2015.51011.
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