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This study tests whether an international market exists in the platinum-group metal (PGM) futures markets. For this purpose, we tested the law of one price (LOP) and the causality between the U.S. and Japanese platinum and palladium futures markets. We also performed the test when structural breaks are considered. Long-run price relationships were...

This study investigates how markets for different levels of copper purity are interrelated by testing the long-run price linkage and causalities among the copper futures, primary, copper scrap, and brass scrap markets. It is expected that copper markets that deal with high purity levels, such as the futures, primary, and copper scrap markets, have...

本ポリシー・ブリーフは、東アジア地域において環境・社会的に有益な地域経済発展を進める上でのエネルギー市場統合の重要性を示しています。この地域の発展においてエネルギー価格設定が重要な問題であるとともに、エネルギー市場統合がエネルギー安全保障においても大きな役割を果たすことを示唆しています。 Remarks: English version: http://pub.iges.or.jp/modules/envirolib/view.php?docid=3354

The East Asia region has been a hot spot of economic growth, and a substantial amount of energy input is essential to fuel this growth. Given the diverse conditions of economic, demographic, physical and natural resources in this region, a harmonised and integrated energy market will be beneficial to secure an affordable and reliable energy supply...