English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

One major hurdle in the road toward a low carbon economy is the presententanglement of developed economies with oil. This tight relationship ismirrored in the correlation between most of economic indicators with oil price.This paper addresses the role of oil compared to the other three main energycommodities -coal, gas and electricity, in shaping the international tradingnetwork (ITW or WTW, world trade web) in the light of network theory. Itinitially surveys briefly the literature on the correlation between oil priceswith economic growth and compares the concepts of time correlation with theconcept of spatial correlation brought about by network theory. It outlines theconceptual framework underpinning the network measures adopted in the analysisand results are presented. Three measures are taken into account: the ratio ofmutual exchanges in the network (reciprocity); the role of distances indetermining trades (spatial filling); and the spatial correlation of energycommodities with the whole trade network and with four trading categories:food, capital goods, intermediate goods and consumption goods. The analysisdeliver five main results:1) the the energy commodities network wasstructurally stable amid dramatic growth during the decade considered; 2) thatoil is the most correlated energy commodity to the world trade web; 3) that oilis the most pervasive network, though coal is the less affected by distances;4) that oil has a remarkably high level of internal reciprocity and externaloverlapping 5) that the reciprocity of the trade network is negative correlatedin time with the price of oil.

A network analysis of the global energy market: an insight on the entanglement between crude oil and the world economy