Liu, Li; Chen, Ching-Cheng; Wan, Jieqiu - In: Economic Modelling 35 (2013) C, pp. 364-373
In this paper, we examine the hypothesis that world oil market is “one great pool” by investigating the integration between China's and four major crude oil markets. Using a nonlinear correlation measure, we find that the price co-movement between China's and international oil prices is...