Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey

2021 ◽  
pp. 262-283
Author(s):  
Uğur Uzun ◽  
Zafer Adalı
Keyword(s):  
Natural Gas ◽  
Financial Performance ◽  
Unit Root ◽  
Primary Energy ◽  
Energy Prices ◽  
Long Run ◽  
Natural Gas Prices ◽  
Oil And Natural Gas ◽  
The Relationship

In this chapter, the authors aim to investigate the association between the primary energy sources' prices involving oil and natural gas and sectors indices operating the Turkey stock market for the period covering 2012M1-2021M3. Regarding energy price indicators, Brent oil and natural gas real-time future prices are preferred in the models, and BIST Industrials (XUSIN), BIST Chem-Petrol Plastic (XKMYA), and BIST Electricity (XELKT) indices are used as financial performance indicators. Fourier unit root tests improved by Becker et al. and Fourier co-integration tests improved by Tsong et al. are employed to investigate the relationship between considered variables. As a result of the models, it is found that the energy prices and financial performance index do not move together in the long run; in other words, change in oil and natural gas prices seem not to have an impact on the sector indexes.

The Relationship Between Commodity Prices and Selected Macroeconomic Variables in Turkey

2020 ◽  
pp. 510-528
Author(s):  
Mustafa Uysal ◽  
Zafer Adalı
Keyword(s):  
Natural Gas ◽  
Commodity Prices ◽  
Cointegration Test ◽  
Macroeconomic Variables ◽  
Long Run ◽  
Oil And Natural Gas ◽  
The Relationship

This chapter determines whether there is a long-run relationship among oil, copper, natural gas, export figures and import figures, and BIST 100. Within this context, the study employs monthly periods from January 2006 to June 2019. ADF, Fourier ADF, and Banerjee Cointegration Test were applied. Banerjee Cointegration Test revealed that copper, oil, and natural gas and import figures move together in the long run but the existence of the long-run relationship between the selected inputs and export figures and BIST 100 has not been found. This evidence can be interpreted as the change in oil, copper, and natural gas may influence the amount of Turkish import figures.

scholarly journals An Economic, Energy, and Environmental Analysis of PV/Micro-CHP Hybrid Systems: A Case Study of a Tertiary Building

2018 ◽  
Vol 10 (11) ◽  
pp. 4082 ◽  
Author(s):  
José Salmerón Lissén ◽  
Laura Romero Rodríguez ◽  
Francisco Durán Parejo ◽  
Francisco Sánchez de la Flor
Keyword(s):  
Energy Consumption ◽  
Natural Gas ◽  
Hybrid Systems ◽  
Primary Energy ◽  
Large Contribution ◽  
Energy Prices ◽  
Natural Gas Engines ◽  
Pv Modules ◽  
Natural Gas Prices ◽  
Economic Analyses

Our present standard of living depends strongly on energy sources, with buildings being a primary focus when it comes to reducing energy consumption due to their large contribution, especially in tertiary buildings. The goal of the present study is to evaluate the performance of two different designs of hybrid systems, composed of natural gas engines and photovoltaic panels. This will be done through simulations in TRNSYS, considering a representative office building with various schedules of operation (8, 12, and 24 h), as well as different climates in Spain. The main contributions of this paper are the evaluations of primary energy-consumption, emissions, and economic analyses for each scenario. In addition, a sensitivity analysis is carried out to observe the influence of energy prices, as well as that of the costs of the micro-CHP engines and PV modules. The results show that the scenario with the conventional system and PV modules is the most profitable one currently. However, if electricity prices are increased in the future or natural gas prices are reduced, the scenario with micro-CHP engines and PV modules will become the most profitable option. Energy service engineers, regulators, and manufacturers are the most interested in these results.

scholarly journals Impact of Energy Price Variability on Global Fertilizer Price: Application of Alternative Volatility Models

2015 ◽  
Vol 4 (4) ◽  
pp. 132 ◽  
Author(s):  
Prabuddha Sanyal ◽  
Leonard A. Malczynski ◽  
Paul Kaplan
Keyword(s):  
Natural Gas ◽  
Structural Break ◽  
Production Costs ◽  
Energy Prices ◽  
Volatility Models ◽  
Natural Gas Prices ◽  
Negative Effect ◽  
Oil And Natural Gas ◽  
Structural Break Tests ◽  
On Farm

This study evaluates the effects of volatility in crude oil and natural gas prices on fertilizer price variations. Specifically, the study looks at the mean and volatility effects of oil and natural gas prices on both mean and volatility changes in fertilizer prices. Both symmetric models [GARCH (1, 1)] and asymmetric models [GJR (1, 1)] were used to model volatility in fertilizer prices and to evaluate the effects of the volatility over different time periods using Bai-Perron structural break tests. The results show that changes in oil and natural gas prices increased fertilizer prices after the crisis period, during June 2007 to June 2008. Both the ARCH and GARCH had significant effects on fertilizer prices, suggesting that the volatility effects of oil and natural gas prices on fertilizer prices were also significant. Furthermore, the maximum impact of higher energy prices depends on triple superphosphate and diammonium phosphate (DAP) leading to higher production costs and consequent increase in total farm expenditures for crop producers. These higher production costs invariably have a negative effect on farm profitability, thus reducing the investment levels in the farm sector.

scholarly journals The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors

2018 ◽  
Vol 7 (4.34) ◽  
pp. 118
Author(s):  
Nur Surayya Mohd Saudi ◽  
Wong Hock Tsen ◽  
Abdul Latif Harun ◽  
Zailin Zainal Ariffin ◽  
Nur Zahidah Syafii ◽  
...  
Keyword(s):  
Natural Gas ◽  
Positive Relationship ◽  
High Energy ◽  
Series Data ◽  
Economic Sectors ◽  
Agriculture Sector ◽  
Natural Gas Prices ◽  
Oil And Natural Gas ◽  
The Impact ◽  
The Relationship

This study has investigated the relationship between the changes in oil and natural gas prices on the Malaysian economic sectors. Four economic sectors were selected namely manufacturing, services, agriculture, and mining. However, there was less study conducted at the sector level. Hence, the goal of this paper is to explore the impact of oil and gas prices on economic sectors GDP. This study has conducted econometrics modelling based on the ARDL bound testing with the spanning time series data from year 1987 to 2017. The empirical findings revealed that the relationship between the oil and natural gas prices in the manufacturing and services sector is negative, while the agriculture sector showed a positive relationship, and the mining sector showed no relationship. The empirical findings concluded that the manufacturing and services sectors that consumed more energy are dependent on the price changes. Meanwhile, the agriculture sector is a highly subsidised sector which has a positive relationship with energy prices. In the policy recommendation, Malaysia has to apply the energy pricing policy by offering energy subsidy to the high energy consumed sectors. Finally, Malaysia should develop policies that can diversify its energy resources and increase the shares of renewable energy sources. 

scholarly journals Fiscal Gap: an Estimate for Russia

2015 ◽  
pp. 5-25 ◽  
Author(s):  
E. Goryunov ◽  
L. Kotlikoff ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Natural Gas ◽  
Productivity Growth ◽  
Budget Constraint ◽  
Demographic Trends ◽  
Long Run ◽  
General Government ◽  
Oil And Natural Gas ◽  
Major Factors

Fiscal gap is an indicator of long run sustainability of government finance. It is derived from intertemporal budget constraint which connects flows of budget outlays and receipts aggregated along decades. In order to get an estimate of Russia’s general government fiscal gap we consider three scenarios which are based on different assumptions regarding demographic trends, productivity growth, extractable reserves of oil and natural gas, long-term price of oil and natural gas, etc. Estimated value of fiscal gap implies that current fiscal policy cannot provide budget sustainability in the long run. There are two major factors of the budget imbalances: rising health and pension expenditures due to demographic trends and shrinking role of tax revenues from the energy sector due to extraction growth rate projected to be lower than GDP growth. This study is an extension of (Goryunov et al., 2013).

A wavelet analysis of the relationship between oil and natural gas prices

2019 ◽  
Vol 60 ◽  
pp. 118-124 ◽  
Author(s):  
Aviral Kumar Tiwari ◽  
Zinnia Mukherjee ◽  
Rangan Gupta ◽  
Mehmet Balcilar
Keyword(s):  
Natural Gas ◽  
Wavelet Analysis ◽  
Natural Gas Prices ◽  
Oil And Natural Gas ◽  
The Relationship

The Problem of Identifying and Modeling the Relationship between Monetary Factor and Inflation in the Russian Economy

2008 ◽  
pp. 61-76
Author(s):  
A. Porshakov ◽  
A. Ponomarenko
Keyword(s):  
Money Supply ◽  
Money Demand ◽  
Russian Economy ◽  
Long Run ◽  
Complex Approach ◽  
Wide Range ◽  
Long Time ◽  
The Relationship ◽  
Supply Side Factors

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

scholarly journals Saving energy in residential buildings: the role of energy pricing

2021 ◽  
Vol 167 (1-2) ◽  
Author(s):  
Jens Ewald ◽  
Thomas Sterner ◽  
Eoin Ó Broin ◽  
Érika Mata
Keyword(s):  
Energy Demand ◽  
Income Elasticity ◽  
Residential Buildings ◽  
Policy Framework ◽  
Energy Prices ◽  
Residential Energy ◽  
Residential Energy Demand ◽  
Long Run ◽  
Zero Carbon

AbstractA zero-carbon society requires dramatic change everywhere including in buildings, a large and politically sensitive sector. Technical possibilities exist but implementation is slow. Policies include many hard-to-evaluate regulations and may suffer from rebound mechanisms. We use dynamic econometric analysis of European macro data for the period 1990–2018 to systematically examine the importance of changes in energy prices and income on residential energy demand. We find a long-run price elasticity of −0.5. The total long-run income elasticity is around 0.9, but if we control for the increase in income that goes towards larger homes and other factors, the income elasticity is 0.2. These findings have practical implications for climate policy and the EU buildings and energy policy framework.

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