Theoretical and Applied Economics
No. 3 / 2022 (632), Autumn
An econometric approach to analyse the perceived cartel behaviour of OPEC
IIS (Deemed to be University), Jaipur, India
Apeksha SHARMA
IIS (Deemed to be University), Jaipur, India
Abstract. This paper is driven by the importance of OPEC and the mixed literature about its behaviour. The aim is to understand the debated structure of OPEC and determine using econometric tools and applying market sharing models whether the organization behaves like a cartel or is wrongly accused of being so using the annual data for 2004-2019 period. Application of Herfindahl-Hirschman Index shows a shift in its behaviour from competitive to moderately concentrated marketplace from 2013. Crude oil output coordination of member nations with OPEC is established using cointegration test. Besides this, Granger causality test suggests that Iraq’s crude oil production causes price of oil which is further confirmed by applying market share model where Iraq acts as a price setter.
Keywords: OPEC, oil production, cartel, cointegration, causality.
Contents
- Financial development and public debt.
Estimating the role of institutional quality
Qamar ABBAS
Muhammad RAMZAN
Sumbal FATIMA
- An econometric approach
to analyse the perceived cartel behaviour of OPEC
C.R. BISHNOI
Apeksha SHARMA
- Global Competitiveness Index 4.0
and export performances of the European economies
Alem MERDIĆ
Kadrija HODŽIĆ
- Multifractal analysis of equities.
Evidence from the emerging and frontier banking sectors
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Siva Kiran GUPTHA
G Raghavender RAJU
- Using automated systems to run a modern state
and benchmarking the solution with advanced indicators
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- Health expenditure, life expectancy, fertility rate,
CO2 emissions and economic growth
Do public, private and external health expenditure matter?
Mahmoud M. SABRA
- The economic effects of working remotely:
causes and implications
Silvia-Elena IACOB
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Radu-Alexandru BUDU
- Measuring financial inclusion and its present status
in South Asian countries.
Evidence from a multidimensional Financial Inclusion Index
Susanta Kumar SETHY
Phanindra GOYARI
- The effects of exchange rate changes on the bilateral trade
balances between the MENA country group and France:
empirical evidences based on non-linear ARDL approach
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- Postmodernism and communication in education.
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Elvira Alexandra GHERASIM
- Fiscal and monetary policy effects on economic growth
in Romania (1990-2020)
Ismail AMANI
Brahim BOUYACOUB
- Economic growth at the expense of technology
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Mădălina-Gabriela ANGHEL
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Dana Luiza GRIGORESCU
- Inflation seriously affects the standard of living
of the population
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Mădălina-Gabriela ANGHEL
Stefan Virgil IACOB
Cristian Marius RĂDUT
Denis-Arthur STRIJEK