Energy market reforms in China and the time-varying connectedness of domestic and international markets

doi:10.1016/j.eneco.2022.106495

CASISD OpenIR > 系统分析与管理研究所

	Energy market reforms in China and the time-varying connectedness of domestic and international markets
	Wang, Tiantian ; Wu, Fei 1; Zhang, Dayong 1; Ji, Qiang2,3
发表期刊	ENERGY ECONOMICS
关键词	China Energy market reform Energy transition Spillovers Time-varying
摘要	China is the world's largest energy consumer and a considerable force in international energy markets. Continuous market reforms in the country together with the ongoing energy transition due to the commitment to carbon neutrality have brought fundamental changes to Chinese energy markets and have resulted in new sources of uncertainty in international energy markets. It is therefore important to investigate market linkages between China and the world from a dynamic perspective. This paper adopts the time-varying parameter VAR (TVP-VAR) model and the network spillover approach to explore the time-varying linkages between China and the international energy markets. The results show that the marketization process in China has led to significant changes in spillover patterns between international energy markets and Chinese domestic markets. Dynamics in the Chinese energy markets have played an increasingly important role in affecting international energy price movements. There is also clear evidence that the energy transition process in China has driven risk spillovers from the country to the international energy markets.
	2022
卷号	117
ISSN	0140-9883
文章类型	Article
DOI	10.1016/j.eneco.2022.106495
关键词[WOS]	NATURAL-GAS MARKET ; VOLATILITY SPILLOVERS ; OIL INDEXATION ; PRICES ; FUNDAMENTALS ; SHOCKS
语种	英语
WOS研究方向	Business & Economics
WOS类目	Economics
WOS记录号	WOS:000921279900001
引用统计
文献类型	期刊论文
条目标识符	http://ir.casisd.cn/handle/190111/12063
专题	系统分析与管理研究所
作者单位	1.Nanjing Audit Univ, Finance Sch, Nanjing 211815, Peoples R China 2.Southwestern Univ Finance & Econ, Res Inst Econ & Management, Chengdu 611130, Peoples R China 3.Chinese Acad Sci, Inst Sci & Dev, Beijing 100190, Peoples R China 4.Univ Chinese Acad Sci, Sch Publ Policy & Management, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Wang, Tiantian,Wu, Fei,Zhang, Dayong,et al. Energy market reforms in China and the time-varying connectedness of domestic and international markets[J]. ENERGY ECONOMICS,2022,117.
APA	Wang, Tiantian,Wu, Fei,Zhang, Dayong,&Ji, Qiang.(2022).Energy market reforms in China and the time-varying connectedness of domestic and international markets.ENERGY ECONOMICS,117.
MLA	Wang, Tiantian,et al."Energy market reforms in China and the time-varying connectedness of domestic and international markets".ENERGY ECONOMICS 117(2022).