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dc.contributor.authorJohansen, Bjarne Inge
dc.date.accessioned2011-11-21T15:58:44Z
dc.date.available2011-11-21T15:58:44Z
dc.date.issued2011
dc.identifier.urihttp://hdl.handle.net/11250/169355
dc.description.abstractThis master thesis examines geographical market integration in energy markets, price comovement between oil, natural gas and coal, as well as price comovement between energy and non-energy commodities (agricultural products, industrial metals and precious metals). A relatively comprehensive review of the literature is made, and a cointegration analysis between crude oil and various non-energy commodities is also carried out. The findings indicate that oil is quite strongly integrated into one global market, although recent developments imply that this may change. Coal markets are not as strongly integrated as oil, but the presence of a single global coal market is still likely. Natural gas markets are probably divided in two, perhaps three, global markets. Some relatively strong regional integration between energy carriers exists, but there is no integrated common market. Several long-term price relationships between energy and non-energy commodities also seem to be present, but it is very difficult to determine which causal factors are responsible.no_NO
dc.language.isoengno_NO
dc.titlePrice comovement in energy and commodity marketsno_NO
dc.typeMaster thesisno_NO
dc.subject.nsiVDP::Social science: 200::Economics: 210::Economics: 212no_NO


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