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Books > History > History of specific subjects > Economic history
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Spikes and Shocks - The Financialisation of the Oil Market from 1980 to the Present Day (Hardcover, 1st ed. 2017)
Loot Price: R1,933
Discovery Miles 19 330
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Spikes and Shocks - The Financialisation of the Oil Market from 1980 to the Present Day (Hardcover, 1st ed. 2017)
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This book proposes that price volatility and speculation in the oil
market originate from a decades-long process of financialisation.
The author challenges 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, and to what effect, the process of
financialisation has transformed the structure and dynamics of the
global oil market from 1980 to the present day. In doing so, the
book suggests that the process of financialisation 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 that characterised the oil market until
the 1980s into a four-tier structure through the addition of
financial actors.
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