Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices
The study reported in this chapter builds on previous studies of the extent of decoupling of oil and gas markets and thus the degree of deregulation of the gas sector in each country. It examines both UK and US oil and gas spot and futures market data. Spot gas and gas futures data from the respecti...
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| Format: | Book Chapter |
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Springer-Verlag Berlin Heidelberg
2013
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| Online Access: | http://hdl.handle.net/20.500.11937/28731 |
| _version_ | 1848752615575257088 |
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| author | Simpson, John |
| author2 | John L. Simpson |
| author_facet | John L. Simpson Simpson, John |
| author_sort | Simpson, John |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | The study reported in this chapter builds on previous studies of the extent of decoupling of oil and gas markets and thus the degree of deregulation of the gas sector in each country. It examines both UK and US oil and gas spot and futures market data. Spot gas and gas futures data from the respective domestic markets represent domestic factors and oil prices from global datasets represent global factors. Cointegration and exogeneity tests indicate that US markets have achieved a greater degree of decoupling with domestic gas price factors dominating global oil price factors in the determination of the future spot gas price. Therefore, it can be concluded that whilst progress in liberalization has been made in both markets, US deregulation policies have been more effective than those in the UK. |
| first_indexed | 2025-11-14T08:11:26Z |
| format | Book Chapter |
| id | curtin-20.500.11937-28731 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:11:26Z |
| publishDate | 2013 |
| publisher | Springer-Verlag Berlin Heidelberg |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-287312023-02-08T05:45:13Z Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices Simpson, John John L. Simpson Wim Westerman André Dorsman Causality Oil Pricing Deregulation Decoupling Futures Cointegration Spot Gas The study reported in this chapter builds on previous studies of the extent of decoupling of oil and gas markets and thus the degree of deregulation of the gas sector in each country. It examines both UK and US oil and gas spot and futures market data. Spot gas and gas futures data from the respective domestic markets represent domestic factors and oil prices from global datasets represent global factors. Cointegration and exogeneity tests indicate that US markets have achieved a greater degree of decoupling with domestic gas price factors dominating global oil price factors in the determination of the future spot gas price. Therefore, it can be concluded that whilst progress in liberalization has been made in both markets, US deregulation policies have been more effective than those in the UK. 2013 Book Chapter http://hdl.handle.net/20.500.11937/28731 10.1007/978-3-642-30601-3_10 Springer-Verlag Berlin Heidelberg restricted |
| spellingShingle | Causality Oil Pricing Deregulation Decoupling Futures Cointegration Spot Gas Simpson, John Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices |
| title | Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices |
| title_full | Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices |
| title_fullStr | Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices |
| title_full_unstemmed | Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices |
| title_short | Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices |
| title_sort | natural gas market liberalization: an examination of uk and us futures and spot prices |
| topic | Causality Oil Pricing Deregulation Decoupling Futures Cointegration Spot Gas |
| url | http://hdl.handle.net/20.500.11937/28731 |