Speculation in International Crises: Report from the Gulf

Recent years have seen recurring international financial crises, as well as a tremendous rise in trading and speculation. How are the two related? Are speculators and trading responsible for market volatility? This paper presents a study of the Gulf Crisis of 1990-1991, examining the behavior of the...

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Veröffentlicht in:	Journal of international business studies 2005-09, Vol.36 (5), p.576-587
1. Verfasser:	Weiner, Robert J.
Format:	Artikel
Sprache:	eng
Schlagworte:	Business studies Crises Crude oil prices Derivatives Derivatives markets Economic crises Economic crisis Energy economics Financial crisis Financial speculation Global economy Globalization Government crises Impact analysis International business International crisis International finance International markets International trade Market prices Oil price Oil prices Petroleum Price volatility Securities markets Speculation Speculators Stock market crashes Studies Supply Supply & demand Volatility
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Beschreibung
Zusammenfassung:	Recent years have seen recurring international financial crises, as well as a tremendous rise in trading and speculation. How are the two related? Are speculators and trading responsible for market volatility? This paper presents a study of the Gulf Crisis of 1990-1991, examining the behavior of the international oil market during a period of unprecedented volatility. The analysis suggests that a combination of political events and market fundamentals, rather than trading, was behind this volatility.
ISSN:	0047-2506 1478-6990
DOI:	10.1057/palgrave.jibs.8400158