Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade
Moritz Paulus (),
Johannes Trueby and
Christian Growitsch ()
No 2011-4, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)
We explore the hypothesis that export policies and trade patterns of national players in the steam coal market are consistent with non-competitive market behavior. We test this hypothesis by developing an equilibrium model which is able to model coal producing nations as strategic players. We explicitly account for integrated seaborne trade and domestic markets. The global steam coal market is simulated under several imperfect market structure setups. We ﬁnd that trade and prices of a China - Indonesia duopoly ﬁt the real market outcome best and that real Chinese export quotas in 2008 were consistent with simulated exports under a Cournot-Nash strategy.
Keywords: Strategic National Trade; Imperfect Competition; Steam Coal; China; Indonesia (search for similar items in EconPapers)
JEL-codes: C61 F10 L13 L71 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-ene, nep-int and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ewikln:2011_004
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