Journal of Iranian Economic Issues

Journal of Iranian Economic Issues

The effect of JCPOA agreement on Iran's oil market in the oil markets network

Document Type : Scientific-research

Author
Ph.D. in Economics, Faculty of Economics, Management and Accounting, Yazd University
Abstract
This research examines the JCPOA agreement on Iran's oil market in the network of oil markets for the time period of 1991/11 to 2019/2 using Diblad Yilmaz's spillover index and complex network theory.The time period of this research was divided into three time periods before JCPOA, JCPOA and after withdrawal from JCPOA. In all three periods, the Iranian oil market is the transmitter of turbulence in the oil markets.During the implementation of JCPOA, the Iranian oil market sent more turbulence to other oil markets. which shows the increase in the turbulence of the Iranian oil market during the implementation of the JCPOA and the increase in the influence of the Iranian oil market in the oil market network.During the implementation of the JCPOA, the transmission power of the turbulence of the Iranian oil market has increased. Oman's oil market, before the implementation of the JCPOA and after the withdrawal from the JCPOA, has been the most turbulent transmitter in the oil market network. During the implementation of the JCPOA, the Indonesian oil market has been the most sender of turbulence in the spillover network.
Keywords
Subjects

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  • Receive Date 12 June 2022
  • Revise Date 05 September 2022
  • Accept Date 12 November 2022