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Spreading risk in the internationality oil markets
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Samaneh Bagheri *   |
| yazd university |
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Abstract: (812 Views) |
il markets are one of the most important international markets. Oil markets play an important role for Iran as an oil exporting country with a budget dependent on oil. Most of Iran's budget is obtained from the sale of oil. So, oil markets are one of the important markets that affect the budgets of countries that supply and demand oil. In this research, the spread of risk in international oil markets was investigated using complex network theory and Pearson's correlation coefficient for the time period from 10/1991 to 12/2021. According to the obtained results, the OPEC oil market has the highest amount of node power in spreading risk in the network of international oil markets And this node will have the most influence in the network of oil markets. The Indonesian oil market has the weakest node strength in the risk diffusion network in oil markets. The degree of weight of the nodes is the highest value for the Brent oil market and it means that the Brent oil market has the highest correlation with other oil markets in the network of oil markets. The node degree was the same for all the nodes of the oil markets. According to the results of the Pearson correlation test, there is correlation in the oil markets and the highest correlation in the oil markets is in the markets of Nigeria and Algeria and the markets of Norway and Algeria.
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Article number: 6 |
| Keywords: risk diffusion, oil market, complex network, Pearson correlation coefficient |
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Type of Study: Research |
Subject:
Special
Received: 2022/10/31 | Accepted: 2023/02/21 | Published: 2023/02/21
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