A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations
This paper uses the law of one price (LOP) and the DCC-GARCH method based on ten-day price sequences. The findings indicate that, compared with the international refined oil markets with mature market-oriented pricing mechanisms, only in the Chinese market do gasoline and diesel prices meet the LOP....
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2020-08-01
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| Series: | Applied Mathematics and Nonlinear Sciences |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/amns.2020.2.00027 |
| _version_ | 1811272296915009536 |
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| author | Zhang Shuliang Gao Xinwei Koshi Earnest N. |
| author_facet | Zhang Shuliang Gao Xinwei Koshi Earnest N. |
| author_sort | Zhang Shuliang |
| collection | DOAJ |
| description | This paper uses the law of one price (LOP) and the DCC-GARCH method based on ten-day price sequences. The findings indicate that, compared with the international refined oil markets with mature market-oriented pricing mechanisms, only in the Chinese market do gasoline and diesel prices meet the LOP. This finding shows that, in the context of the gradual integration of the global refined oil market, the international level of China's refined oil price is still quite low. The price reforms pertaining to China's refined oil products still need to be pushed forward in the direction of marketization and internationalization. |
| first_indexed | 2024-04-12T22:36:32Z |
| format | Article |
| id | doaj.art-e5b2fce5347b451ba023ca04e51d48f6 |
| institution | Directory Open Access Journal |
| issn | 2444-8656 |
| language | English |
| last_indexed | 2024-04-12T22:36:32Z |
| publishDate | 2020-08-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Applied Mathematics and Nonlinear Sciences |
| spelling | doaj.art-e5b2fce5347b451ba023ca04e51d48f62022-12-22T03:13:50ZengSciendoApplied Mathematics and Nonlinear Sciences2444-86562020-08-015258159210.2478/amns.2020.2.00027A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price FluctuationsZhang Shuliang0Gao Xinwei1Koshi Earnest N.2School of Economics and Management, China University of Petroleum, Qingdao266580, ChinaSchool of Economics and Management, China University of Petroleum, Qingdao266580, ChinaSchool of Economics and Management, China University of Petroleum, Qingdao266580, ChinaThis paper uses the law of one price (LOP) and the DCC-GARCH method based on ten-day price sequences. The findings indicate that, compared with the international refined oil markets with mature market-oriented pricing mechanisms, only in the Chinese market do gasoline and diesel prices meet the LOP. This finding shows that, in the context of the gradual integration of the global refined oil market, the international level of China's refined oil price is still quite low. The price reforms pertaining to China's refined oil products still need to be pushed forward in the direction of marketization and internationalization.https://doi.org/10.2478/amns.2020.2.00027correlation effectmarketization reform97d1091b55 |
| spellingShingle | Zhang Shuliang Gao Xinwei Koshi Earnest N. A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations Applied Mathematics and Nonlinear Sciences correlation effect marketization reform 97d10 91b55 |
| title | A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations |
| title_full | A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations |
| title_fullStr | A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations |
| title_full_unstemmed | A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations |
| title_short | A Comparative Study on the Dynamic Correlation Effect of Foreign and Domestic Gasoline and Diesel Price Fluctuations |
| title_sort | comparative study on the dynamic correlation effect of foreign and domestic gasoline and diesel price fluctuations |
| topic | correlation effect marketization reform 97d10 91b55 |
| url | https://doi.org/10.2478/amns.2020.2.00027 |
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