Research Commons
      • Browse 
        • Communities & Collections
        • Titles
        • Authors
        • By Issue Date
        • Subjects
        • Types
        • Series
      • Help 
        • About
        • Collection Policy
        • OA Mandate Guidelines
        • Guidelines FAQ
        • Contact Us
      • My Account 
        • Sign In
        • Register
      View Item 
      •   Research Commons
      • University of Waikato Research
      • Management
      • Management Papers
      • View Item
      •   Research Commons
      • University of Waikato Research
      • Management
      • Management Papers
      • View Item
      JavaScript is disabled for your browser. Some features of this site may not work without it.

      Gradual reforms and the emergence of energy market in China: Evidence from tests for convergence of energy prices

      Ma, Hengyun; Oxley, Les; Gibson, John
      DOI
       10.1016/j.enpol.2009.06.055
      Find in your library  
      Citation
      Export citation
      Ma, H., Oxley, L. & Gibson, J. (2009). Gradual reforms and the emergence of energy market in China: Evidence from tests for convergence of energy prices. Energy Policy, 37(11), 4834-4850.
      Permanent Research Commons link: https://hdl.handle.net/10289/2674
      Abstract
      This study investigates the emergence of energy markets by testing for convergence of energy prices with a new dataset on energy spot prices in 35 major cities in China. Both descriptive statistics and unit root are employed to test the convergence of energy prices for each of four fuel price series. The whole study period is divided into two sub-periods in order to reconcile the gradual energy reforms. The results show the steady improvement in energy market performance in China, especially during the second sub-period, which suggests that the market appears to be playing an increasing role in determining energy prices. While panel unit root tests show energy markets are integrated in China as a whole, city-by-city univariate unit root tests suggest that there are still many regional energy markets, probably because energy reserves (especially coal) vary widely across regions. Since China's energy economy is gradually moving towards market-oriented mechanisms, the existing literature may become obsolete soon.
      Date
      2009
      Type
      Journal Article
      Publisher
      Elsevier
      Collections
      • Management Papers [1135]
      Show full item record  

      Usage

       
       
       

      Usage Statistics

      For this itemFor all of Research Commons

      The University of Waikato - Te Whare Wānanga o WaikatoFeedback and RequestsCopyright and Legal Statement