Causal relationship of eco-industrial park development factors: a structural equation analysis

The purpose of this study is to analyze the causal relationship of eco-industrial park development (EIP) factors in South Korea. The study derived three types of EIP development strategies through a literature review, grouped the strategies into six EIP development factors using factor analysis, and employed a structure equation model to find causal relationships among the factors, with the following main results. The impact structure analysis identified two statistically significant paths. In the first path, one of three factors regarding “resource circulation system development” had direct significant impacts on EIP development. In the second path, two factors regarding “resource circulation system development” had highly significant impacts on the “cooperative system development”, which, in turn, ultimately had significant impacts on EIP development. This study suggests that there is a need to accomplish EIP development through both “resource circulation system development” and “ecological environment development” associated with “cooperative system development”. Identifying the causal relationship of EIP development factors can help decision-makers focus on strengthening particular influential eco-industrial development strategies to activate EIP development.