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The Resource Spikes and shocks : the financialisation of the oil market from 1980 to the present day, Angelos Gkanoutas-Leventis

Spikes and shocks : the financialisation of the oil market from 1980 to the present day, Angelos Gkanoutas-Leventis

Creator
Author
Summary
This book suggests that price volatility and speculation in the oil market originate from a decades-long process of financialisation. The author contradicts mainstream critical accounts of the market that typically invoke the notion of a global oil shortage and so-called 'peak oil' arguments. Instead, he argues that the development of the market has been punctuated by recurring oil price shocks. Chapters examine the evolution of the international oil market and investigate how the process of financialisation has transformed the structure and dynamics of the global oil market from 1970 to the present. The book suggests that the financialisation process is both the cause and the proof of a profound change in the structure of the global oil market that has turned the triangle of producers, consumers, and mediators into a four-tier structure through the addition of financial actors. Angelos Gkanoutas-Leventis is a political economist with commercial experience working for national and international oil companies. He is very active in the development of the hydrocarbon industry in the South East Mediterranean, having founded the Greek Energy Forum. He is also a member of the City Political Economy Research Centre (CITYPERC).
Language
eng
Work
Publication
Extent
1 online resource
Contents
  • Spikes and Shocks; Acknowledgements; Contents; List of Figures; List of Tables; 1 Introduction; Reference; Part I Conceptualising Financialisation; 2 The History of the Oil Market until the 1980s; References; 3 The Many Faces of Financialisation; 3.1 The Systemic Perspective: Regimes, Capital and Financial Geography; 3.2 The Institutional Perspective: Looking beyond the Real Production-Financial Profit Nexus; 3.3 Could the Institutional and the Systemic Approaches be Bridged?; References
  • 4 Finance and the Oil Market: Introducing a Comprehensive Approach to Analysing the Financialisation Process4.1 Analysing Financialisation: Financial Economy vs Real Economy, Conceptualising Performativity and the Emergence of New Financial Actors; 4.1.1 Performativity and Performative Cycles; 4.2 Analysing Financialisation: Behaviour of the Financial Actors; 4.2.1 The Behavioural Finance Approach: From the False Sense of Control to 'Mob Psychology'; 4.3 Analysing Financialisation: The Role of Technology and Regulatory Evolution; Note; References
  • Part II The Three Phases of Oil Financialisation5 Oil Products and Oil-Based Financial Products; References; 6 Oil Shocks as Barometers of the Financialisation Process; 6.1 Oil Shocks and Macroeconomic Performance; References; 7 The Three Phases of Oil Financialisation: Early Financialisation (1980-1999); 7.1 Macroeconomic Background; 7.2 The Oil Price Spike Effects; 7.3 Financial Dimension of Oil Markets: The Emergence of Oil Futures and Swap Investments; References; 8 The Three Phases of Oil Financialisation: Low Financialisation (1999-2002); 8.1 Macroeconomic Background
  • 8.2 Technology and Regulation: The Three Factors that Changed the Oil MarketReferences; 9 The Three Phases of Oil Financialisation: Advanced Financialisation (2002-2015); 9.1 Macroeconomic Background; 9.2 The 2008 Oil Price Shock and the Role of Speculative Financial Activity; 9.3 Independent Variables Shaping the Market Dynamics; 9.3.1 Drivers behind Speculation on Oil Markets; References; Part III Financialisation of Oil Market and Evolution of Oil Market's Actor Structure; 10 Financialisation of the Oil Market: The Four-Actor Structure
  • 10.1 The New Group of Actors on the Oil Market: Characteristics and Behaviour10.1.1 Speculative Behaviour of New Market Actors; 10.2 New Financial Market Players Transforming the Oil Market: Oil Spot Prices and Futures Prices in Focus; 10.2.1 Expectations and Behaviour of the Financial Actors; References; 11 Epilogue; References; Index
Isbn
9781137594617
Instance
Label
Spikes and shocks : the financialisation of the oil market from 1980 to the present day
Title
Spikes and shocks
Title remainder
the financialisation of the oil market from 1980 to the present day
Statement of responsibility
Angelos Gkanoutas-Leventis
Creator
Author
Subject
Language
eng
Summary
This book suggests that price volatility and speculation in the oil market originate from a decades-long process of financialisation. The author contradicts mainstream critical accounts of the market that typically invoke the notion of a global oil shortage and so-called 'peak oil' arguments. Instead, he argues that the development of the market has been punctuated by recurring oil price shocks. Chapters examine the evolution of the international oil market and investigate how the process of financialisation has transformed the structure and dynamics of the global oil market from 1970 to the present. The book suggests that the financialisation process is both the cause and the proof of a profound change in the structure of the global oil market that has turned the triangle of producers, consumers, and mediators into a four-tier structure through the addition of financial actors. Angelos Gkanoutas-Leventis is a political economist with commercial experience working for national and international oil companies. He is very active in the development of the hydrocarbon industry in the South East Mediterranean, having founded the Greek Energy Forum. He is also a member of the City Political Economy Research Centre (CITYPERC).
Member of
Cataloging source
N$T
http://library.link/vocab/creatorName
Gkanoutas-Leventis, Angelos
Dewey number
332.0415
Index
index present
LC call number
HD9560.4
LC item number
.G58 2017
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
Palgrave pivot
http://library.link/vocab/subjectName
  • Finance
  • Investment banking
  • Securities
  • Capital market
  • Economic history
  • Financial History
  • Investments and Securities
  • Finance
  • Capital Markets
  • Financial History
  • Economic History
  • Investments and Securities
Label
Spikes and shocks : the financialisation of the oil market from 1980 to the present day, Angelos Gkanoutas-Leventis
Instantiates
Publication
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Spikes and Shocks; Acknowledgements; Contents; List of Figures; List of Tables; 1 Introduction; Reference; Part I Conceptualising Financialisation; 2 The History of the Oil Market until the 1980s; References; 3 The Many Faces of Financialisation; 3.1 The Systemic Perspective: Regimes, Capital and Financial Geography; 3.2 The Institutional Perspective: Looking beyond the Real Production-Financial Profit Nexus; 3.3 Could the Institutional and the Systemic Approaches be Bridged?; References
  • 4 Finance and the Oil Market: Introducing a Comprehensive Approach to Analysing the Financialisation Process4.1 Analysing Financialisation: Financial Economy vs Real Economy, Conceptualising Performativity and the Emergence of New Financial Actors; 4.1.1 Performativity and Performative Cycles; 4.2 Analysing Financialisation: Behaviour of the Financial Actors; 4.2.1 The Behavioural Finance Approach: From the False Sense of Control to 'Mob Psychology'; 4.3 Analysing Financialisation: The Role of Technology and Regulatory Evolution; Note; References
  • Part II The Three Phases of Oil Financialisation5 Oil Products and Oil-Based Financial Products; References; 6 Oil Shocks as Barometers of the Financialisation Process; 6.1 Oil Shocks and Macroeconomic Performance; References; 7 The Three Phases of Oil Financialisation: Early Financialisation (1980-1999); 7.1 Macroeconomic Background; 7.2 The Oil Price Spike Effects; 7.3 Financial Dimension of Oil Markets: The Emergence of Oil Futures and Swap Investments; References; 8 The Three Phases of Oil Financialisation: Low Financialisation (1999-2002); 8.1 Macroeconomic Background
  • 8.2 Technology and Regulation: The Three Factors that Changed the Oil MarketReferences; 9 The Three Phases of Oil Financialisation: Advanced Financialisation (2002-2015); 9.1 Macroeconomic Background; 9.2 The 2008 Oil Price Shock and the Role of Speculative Financial Activity; 9.3 Independent Variables Shaping the Market Dynamics; 9.3.1 Drivers behind Speculation on Oil Markets; References; Part III Financialisation of Oil Market and Evolution of Oil Market's Actor Structure; 10 Financialisation of the Oil Market: The Four-Actor Structure
  • 10.1 The New Group of Actors on the Oil Market: Characteristics and Behaviour10.1.1 Speculative Behaviour of New Market Actors; 10.2 New Financial Market Players Transforming the Oil Market: Oil Spot Prices and Futures Prices in Focus; 10.2.1 Expectations and Behaviour of the Financial Actors; References; 11 Epilogue; References; Index
Dimensions
unknown
Extent
1 online resource
File format
unknown
Form of item
online
Isbn
9781137594617
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1057/978-1-137-59461-7
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
ocn966670957
Label
Spikes and shocks : the financialisation of the oil market from 1980 to the present day, Angelos Gkanoutas-Leventis
Publication
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Spikes and Shocks; Acknowledgements; Contents; List of Figures; List of Tables; 1 Introduction; Reference; Part I Conceptualising Financialisation; 2 The History of the Oil Market until the 1980s; References; 3 The Many Faces of Financialisation; 3.1 The Systemic Perspective: Regimes, Capital and Financial Geography; 3.2 The Institutional Perspective: Looking beyond the Real Production-Financial Profit Nexus; 3.3 Could the Institutional and the Systemic Approaches be Bridged?; References
  • 4 Finance and the Oil Market: Introducing a Comprehensive Approach to Analysing the Financialisation Process4.1 Analysing Financialisation: Financial Economy vs Real Economy, Conceptualising Performativity and the Emergence of New Financial Actors; 4.1.1 Performativity and Performative Cycles; 4.2 Analysing Financialisation: Behaviour of the Financial Actors; 4.2.1 The Behavioural Finance Approach: From the False Sense of Control to 'Mob Psychology'; 4.3 Analysing Financialisation: The Role of Technology and Regulatory Evolution; Note; References
  • Part II The Three Phases of Oil Financialisation5 Oil Products and Oil-Based Financial Products; References; 6 Oil Shocks as Barometers of the Financialisation Process; 6.1 Oil Shocks and Macroeconomic Performance; References; 7 The Three Phases of Oil Financialisation: Early Financialisation (1980-1999); 7.1 Macroeconomic Background; 7.2 The Oil Price Spike Effects; 7.3 Financial Dimension of Oil Markets: The Emergence of Oil Futures and Swap Investments; References; 8 The Three Phases of Oil Financialisation: Low Financialisation (1999-2002); 8.1 Macroeconomic Background
  • 8.2 Technology and Regulation: The Three Factors that Changed the Oil MarketReferences; 9 The Three Phases of Oil Financialisation: Advanced Financialisation (2002-2015); 9.1 Macroeconomic Background; 9.2 The 2008 Oil Price Shock and the Role of Speculative Financial Activity; 9.3 Independent Variables Shaping the Market Dynamics; 9.3.1 Drivers behind Speculation on Oil Markets; References; Part III Financialisation of Oil Market and Evolution of Oil Market's Actor Structure; 10 Financialisation of the Oil Market: The Four-Actor Structure
  • 10.1 The New Group of Actors on the Oil Market: Characteristics and Behaviour10.1.1 Speculative Behaviour of New Market Actors; 10.2 New Financial Market Players Transforming the Oil Market: Oil Spot Prices and Futures Prices in Focus; 10.2.1 Expectations and Behaviour of the Financial Actors; References; 11 Epilogue; References; Index
Dimensions
unknown
Extent
1 online resource
File format
unknown
Form of item
online
Isbn
9781137594617
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1057/978-1-137-59461-7
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
ocn966670957

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