Oil and the International Economy

Oil and the International Economy

by Geoffrey M. Heal, Graciela Chichilnisky
     
 

This book examines the economic institutions through which oil is produced, traded, and consumed, and their interactions with national and international economic systems. The oil market occupies a central role in the international economy, and in the economies of many producing and consuming countries. It is impossible to understand the economic forces driving this

Overview

This book examines the economic institutions through which oil is produced, traded, and consumed, and their interactions with national and international economic systems. The oil market occupies a central role in the international economy, and in the economies of many producing and consuming countries. It is impossible to understand the economic forces driving this market without grasping how it relates to the world's economic and financial systems. The authors approach their subject by developing and blending two schools with economic theory—the analysis of markets for oil and other exhaustible resources as asset markets, and the use of general equilibrium models to study both trade between industrial and developing countries and the macroeconomic impact of commodity price movements.

Product Details

ISBN-13:
9780198285175
Publisher:
Oxford University Press, USA
Publication date:
03/14/1991
Pages:
160
Product dimensions:
5.69(w) x 8.81(h) x 0.69(d)

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