Access

You are not currently logged in.

Access JSTOR through your library or other institution:

login

Log in through your institution.

Journal Article

THE PRICES CO-MOVEMENT BETWEEN WEST TEXAS CRUDE OIL AND CHINA'S BIOFUEL CROPS

Yu Zhao and Yu Zhang
Energy & Environment
Vol. 24, No. 6 (2013), pp. 965-981
Published by: Sage Publications, Ltd.
Stable URL: http://www.jstor.org/stable/43735212
Page Count: 17
Were these topics helpful?
See something inaccurate? Let us know!

Select the topics that are inaccurate.

  • Download ($40.00)
  • Add to My Lists
  • Cite this Item
THE PRICES CO-MOVEMENT BETWEEN WEST TEXAS CRUDE OIL AND CHINA'S BIOFUEL CROPS
Preview not available

Abstract

The present paper examines the prices co-movement between West Texas crude oil and China's biofuel crops including soya, corn, wheat, cotton and sugar. Specifically, piecewise cointegration model is developed via hybrid neural network approach which can test the structural change of the linkages without prior knowledge of the input data distribution. And then a comparative framework is applied to identify changes in linkages through time and cointegration methodologies and causality tests are employed. Our results indicate that there is no long term co-movement between the oil and the biofuel crops futures pairs. However, our analysis identified that there is uni-directional short run causality between the oil and the biofuel crops futures pairs most of the time, that being said, China's biofuel crops futures prices are often unilaterally led by West Texas crude oil in short run. Furthermore, our findings also indicate that the short run causality changed in different periods.

Page Thumbnails

  • Thumbnail: Page 
965
    965
  • Thumbnail: Page 
966
    966
  • Thumbnail: Page 
967
    967
  • Thumbnail: Page 
968
    968
  • Thumbnail: Page 
969
    969
  • Thumbnail: Page 
970
    970
  • Thumbnail: Page 
971
    971
  • Thumbnail: Page 
972
    972
  • Thumbnail: Page 
973
    973
  • Thumbnail: Page 
974
    974
  • Thumbnail: Page 
975
    975
  • Thumbnail: Page 
976
    976
  • Thumbnail: Page 
977
    977
  • Thumbnail: Page 
978
    978
  • Thumbnail: Page 
979
    979
  • Thumbnail: Page 
980
    980
  • Thumbnail: Page 
981
    981
Part of Sustainability