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Speculation in international crises: report from the Gulf

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  • Robert J Weiner

    ([1] International Business Department, George Washington University, Washington, DC, USA [2] GREEN (Group de Recherche en Économie de l'Énergie et des Ressources Naturelles), Département d'économique, Université Laval, Québec, Canada)

Abstract

Recent years have seen recurring international financial crises, as well as a tremendous rise in trading and speculation. How are the two related? Are speculators and trading responsible for market volatility? This paper presents a study of the Gulf Crisis of 1990–1991, examining the behavior of the international oil market during a period of unprecedented volatility. The analysis suggests that a combination of political events and market fundamentals, rather than trading, was behind this volatility. Journal of International Business Studies (2005) 36, 576–587. doi:10.1057/palgrave.jibs.8400158

Suggested Citation

  • Robert J Weiner, 2005. "Speculation in international crises: report from the Gulf," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 36(5), pages 576-587, September.
    • Handle: RePEc:pal:jintbs:v:36:y:2005:i:5:p:576-587
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    Citations

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    Cited by:

    1. Robert Weiner, 2006. "Do Birds of a Feather Flock Together? Speculator Herding in the World Oil Market," RFF Working Paper Series dp-06-31, Resources for the Future.
    2. Zhang, Yue-Jun, 2013. "Speculative trading and WTI crude oil futures price movement: An empirical analysis," Applied Energy, Elsevier, vol. 107(C), pages 394-402.
    3. Hache, Emmanuel & Lantz, Frédéric, 2013. "Speculative trading and oil price dynamic: A study of the WTI market," Energy Economics, Elsevier, vol. 36(C), pages 334-340.
    4. Weiner, Robert, 2006. "Do Crises Tear the Fabric of Oil Trade?," RFF Working Paper Series dp-06-16, Resources for the Future.
    5. Gülsüm Akarsu, 2017. "Analyzing the impact of oil price volatility on electricity demand: the case of Turkey," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 7(3), pages 371-388, December.
    6. Coleman, Les, 2012. "Explaining crude oil prices using fundamental measures," Energy Policy, Elsevier, vol. 40(C), pages 318-324.
    7. Qian, Yu & Xu, Zeshui & Qin, Yong & Gou, Xunjie & Skare, Marinko, 2023. "Measuring the varying relationships between sustainable development and oil booms in different contexts: An empirical study," Resources Policy, Elsevier, vol. 85(PB).

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