in 2008, the organisation of gas exporting countries (ogec) was formally established with 11 members in doha, qatar. while having economic and business nature, the organisation is seen as the gas opec, having the potential for changing the geo-strategic and geopolitical structure of the world. therefore, it is regarded as a threat by europe and the us to the security of their energy supply. isl...

this study investigates the causal linkages between military spending and economic growth in opec selected countries (i.e. algeria, angola, nigeria, venezuela, iran, kuwait, saudi arabia and ecuador) by focusing country-specific analysis for the period 1995–2012. for this, the panel causality testing approach, the method developed by emirmahmutoglu and kose (2011) based on the vector autoregres...

in this paper, monopolistic behavior of opec, as the largest and most stable international organization between jan. 1973 to sep. 2008, is studied. for this purpose, fundamentals of game theory is used as a basis to come-up with a criterion to make a distinction between two market structures based on mutual dependency of institutions. then using such criterion, a regressive model based on expla...

am grateful to Jagdish Bhagwati for numerous discussions that shaped my thinking on the subject matter of this paper and to two anonymous reviewers for excellent comments on an earlier version of the paper. What trade policy initiatives can the rich countries such as the United States take to assist the poor countries in improving their growth prospects and achieving faster alleviation of pover...

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...