IDEAS home Printed from https://ideas.repec.org/a/sae/enejou/v15y1994i2p107-123.html
   My bibliography  Save this article

Measuring Economic Markets for Imported Crude Oil

Author

Listed:
  • Douglas G. Sauer

Abstract

A previous paper by Weiner (1991) noted that many policy issues involving crude oil imports hinge on whether crude oil markets are unified or regionalized. Weiner observed that the literature on crude oil markets has paid little attention to the regionalization issue. However, a generalized literature addressing market delineation has been evolving for some time and recent advances in applied time series analysis have produced multivariate testing procedures which avoid most of the problems of the bivariate price correlation analyses previously employed in analyzing regionalization issues. This paper advances the work of Weiner by incorporating cointegration relationships into multivariate time series models and using these models to examine the extent of regionalization in the world market for crude oil imports. The empirical results reported here lend support to Adelman's characterization of the world oil market as “one great pool†(Adelman 1984).

Suggested Citation

  • Douglas G. Sauer, 1994. "Measuring Economic Markets for Imported Crude Oil," The Energy Journal, , vol. 15(2), pages 107-123, April.
    • Handle: RePEc:sae:enejou:v:15:y:1994:i:2:p:107-123
    DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No2-6
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.5547/ISSN0195-6574-EJ-Vol15-No2-6
    Download Restriction: no
    File URL: https://libkey.io/10.5547/ISSN0195-6574-EJ-Vol15-No2-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:enejou:v:15:y:1994:i:2:p:107-123. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.