H igh price volatility and the risk are the main features of commodity markets. One way to reduce this risk is to apply the hedging policy by future contracts. In this regard, in this paper, we will calculate the optimal hedging ratios for OPEC oil. In this study, besides the multivariate GARCH models, for the first time we use conditional copula models for modelling dependence struc...

at a superficial level it seems that owning a monopolistic right is in contrast with competitiveness of the market, and exercising this right will prevent the free trade from being competitive. but the truth is that the existence of monopoly is not always a violation of competition law to be harmful to the trade, quite the reverse, in some cases it interacts with principles of competition law, ...

This paper is to study the resource curse applying annual data from 2002 to 2016 for the Organization of the Petroleum Exporting Countries (OPEC) members i.e. Algeria, Iran, Kuwait, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. For this purpose, there were concerned the interactions role of resource abundance and institution quality, and their marginal effect of the countrie...