A Dynamic Network Comparison Analysis of Crude Oil Trade: Evidence from Eastern Europe and Eurasia
| Autor: | Teymour Mohammadi, Atefeh Taklif, Abdolrasoul Ghasemi, Jurica Šimurina, Ali Faridzad, Masoud Shirazi |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Dynamic network analysis
q370 HF5001-6182 020209 energy c320 02 engineering and technology International trade 0502 economics and business 0202 electrical engineering electronic engineering information engineering Economics Business 050207 economics Business management nonlinear panel ardl model General Environmental Science c22 gravity model q43 business.industry 05 social sciences Crude oil crude oil trade q47 dynamic network connectedness measure Crude Oil Trade Dynamic Network Connectedness Measure Gravity Model Nonlinear Panel ARDL Model General Earth and Planetary Sciences f13 business geographic locations |
| Zdroj: | Zagreb International Review of Economics & Business Volume 23 Issue 1 Zagreb International Review of Economics and Business, Vol 23, Iss 1, Pp 95-119 (2020) |
| ISSN: | 1331-5609 |
| Popis: | This article characterizes a dynamic crude oil trade network of Eastern Europe and Eurasia using the network connectedness measure of Diebold and Yilmaz (2014, 2015) and asymmetric reaction of crude oil bilateral trade flow in response to the positive and negative changes of its key determinants using the nonlinear panel ARDL model. Results indicate the existence of large and time-varying spillovers with a considerable explanatory power among the crude oil trade flow volatility of Iran, Russia, US and Saudi Arabia in Eastern Europe and Eurasia crude oil trade network. The findings also show that crude oil trade flow of Eastern Europe and Eurasia experiences net volatility transmission to Iran, Russia and US respectively, whereas it is a net volatility receiver from Saudi Arabia. Also based on gravity models, the analysis confirms the existence of impact, reaction and adjustment asymmetry through different magnitude among network participants. |
| Databáze: | OpenAIRE |
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