Skoči na glavni sadržaj

Izvorni znanstveni članak

https://doi.org/10.2478/zireb-2020-0007

A Dynamic Network Comparison Analysis of Crude Oil Trade: Evidence from Eastern Europe and Eurasia

Masoud Shirazi orcid id orcid.org/0000-0002-9226-4729 ; Faculty of Economics, Allameh Tabataba’i University, Tehran, Iran.
Abdolrasoul Ghasemi ; Faculty of Economics, Allameh Tabataba’i University, Tehran, Iran.
Teymour Mohammadi ; Faculty of Economics, Allameh Tabataba’i University, Tehran, Iran.
Jurica Šimurina orcid id orcid.org/0000-0002-4806-8894 ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia.
Ali Faridzad orcid id orcid.org/0000-0002-1777-709X ; Faculty of Economics, Allameh Tabataba’i University, Tehran, Iran.
Atefeh Taklif ; Faculty of Economics, Allameh Tabataba’i University, Tehran, Iran.


Puni tekst: engleski pdf 1.608 Kb

str. 95-119

preuzimanja: 413

citiraj


Sažetak

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.

Ključne riječi

Crude Oil Trade; Dynamic Network Connectedness Measure; Gravity Model; Nonlinear Panel ARDL Model

Hrčak ID:

238303

URI

https://hrcak.srce.hr/238303

Datum izdavanja:

27.5.2020.

Posjeta: 1.114 *