Cocconcelli, L;
Medda, F;
(2016)
Testing a speculative bubble in the dry bulk shipping market: a multi-factor approach.
International Journal of Decision Sciences, Risk and Management
, 6
(3)
p. 281.
10.1504/IJDSRM.2016.079795.
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Abstract
The dry bulk industry witnessed a boom and bust phase between 2005 and 2010. The aim of this work is to assess whether this pattern was driven by speculation or was a supply and demand outcome. In order to evaluate the presence of speculation, a global multi-factor risk model is implemented to estimate the long-term (cointegration) relationship between freight rates and cargo prices. The empirical results obtained suggest that a speculative period took place in the dry bulk industry between 2005 and 2011.
| Type: | Article |
|---|---|
| Title: | Testing a speculative bubble in the dry bulk shipping market: a multi-factor approach |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1504/IJDSRM.2016.079795 |
| Publisher version: | http://dx.doi.org/10.1504/IJDSRM.2016.079795 |
| Language: | English |
| Keywords: | Dry Bulk Cargo, Freight Rates, Speculation |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng |
| URI: | https://discovery.ucl.ac.uk/id/eprint/1529144 |
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