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.
Contents
Financial development and public debt. Estimating the role of institutional quality
An econometric approach to analyse the perceived cartel behaviour of OPEC
Global Competitiveness Index 4.0 and export performances of the European economies
Multifractal analysis of equities. Evidence from the emerging and frontier banking sectors
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Fiscal and monetary policy effects on economic growth in Romania (1990-2020)
Economic growth at the expense of technology
Inflation seriously affects the standard of living of the population