Essays on future energy policy in the theory of econophysics

Abstract

we explain this using the changing scale-invariant property. The second analysis identifies the potential of China’s new crude oil market by comparing its market properties with global benchmark markets. China’s crude oil market effectively reflects global information, and its market properties have reached a position similar to those of benchmark markets. However, the China’s new crude oil market cannot provide information to other markets due to strict regulations. The third analysis assesses Korea’s energy mix using welfare analysis after identifying the main factors considered in energy field. We demonstrates that the positive economic effects of nuclear power overwhelm the negative effects of potential disaster and suggests that an increase in the proportion of nuclear power generation can promote increase in social welfare. Lastly, the fourth study confirms the weak-form efficient market hypothesis of the crude palm oil market by comparing it with the WTI crude oil market.

This dissertation examines the properties of the energy market and their influence on economic growth and people’s lives. The first analysis investigates changes in the properties of the US crude oil market following the 2008 global financial crisis. The crisis negatively impacted the crude oil market’s efficiency and long-term equilibrium