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Energy Market Financialization and Its Policy Implications

In: The Handbook of Energy Policy

Author

Listed:
  • Fei Wu

    (Southwestern University of Finance and Economics)

  • Dayong Zhang

    (Southwestern University of Finance and Economics)

  • Qiang Ji

    (Chinese Academy of Sciences)

Abstract

This chapter covers the basic conceptual issues of energy market financialization, its background, its development, and its impacts on energy markets. The trend of financialization has clearly brought new aspects to the energy markets in terms of pricing mechanisms and risks, which can have profound impacts on energy sectors. When the traditional driving factors, such as those from the demand and supply sides, mix with financial factors, the standard policy framework in the energy sector needs to be adjusted. Through reviewing the most recent literature and discussing relevant issues, this chapter aims to bring forward a collection of empirical evidence, a broad discussion of impacts, and, more importantly, the general implications for policymakers around the world. Overall, energy market financialization has already made great impacts to the traditional energy-pricing systems and energy risk management frameworks. Understanding the underlying mechanisms and taking financialization into energy policy frameworks have great meanings.

Suggested Citation

  • Fei Wu & Dayong Zhang & Qiang Ji, 2023. "Energy Market Financialization and Its Policy Implications," Springer Books, in: Farhad Taghizadeh-Hesary & Dayong Zhang (ed.), The Handbook of Energy Policy, chapter 14, pages 403-425, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-6778-8_17
    DOI: 10.1007/978-981-19-6778-8_17
    as

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