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Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences. 2006 (English)In: Energy Journal, ISSN 0195-6574, E-ISSN 1944-9089, Vol. 27, no 1, 99-118 p.Article in journal (Refereed) Published

Abstract [en] : The purpose of this paper is to test the hypothesis of the existence of a single economic market for the international coal industry, separated for coking and steam coal, and lo investigate market integration over time. This has been conducted by applying cointegration and error-correction models on quarterly price series data in Europe and Japan over the time period 1980-2000. Both the coking and the steam coal markets show evidence of global market integration, as demonstrated by the stable long-run cointegrating relationship between the respective price series in different world regions. This supports the hypothesis of a globally integrated market. However, when analyzing market integration over time it is not possible to confirm cointegration in the 1990s for steam coal. Thus, compared to the coking coal market, the steam coal market looks somewhat less global in scope.

Place, publisher, year, edition, pages: 2006. Vol. 27, no 1, 99-118 p.

Research subject: Economics

Identifiers: URN: urn:nbn:se:ltu:diva-3194Local ID: 0fd13780-b232-11db-bf9d-000ea68e967bOAI: diva2:976050

Note: Validerad; 2006; 20061010 (evan)Available from: 2016-09-29 Created: 2016-09-29Bibliographically approved

Author: Wårell, Linda


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