Is OPEC a cartel? Evidence from cointegration and causality tests
通过协整和因果检验，考察欧佩克是否通过限制产量来提高油价，还是仅仅利用了政治冲突导致的高油价，对理解欧佩克的市场影响力有参考价值。
One would expect a carter to curb production in order to raise prices of its product as well as to share the market among its members. The Organization of Petroleum Exporting Countries (OPEC) is no exception, and blamed for the quadrupling of crude oil prices in 1974. However, OPEC could not prevent prices from falling in the 1980s, even after it adopted output rationing in 1982. The author addresses the question of whether OPEC was ever able to increase market price of oil by curbing production, or simply took advantage of high prices caused by political problems and conflicts between members. 17 refs., 1 fig.