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A Financial Institutionalization Scheme for the Northeast Asian Mercantile Exchange

첫 페이지 보기
  • 발행기관
    한국무역통상학회 바로가기
  • 간행물
    무역통상학회지 KCI 등재 바로가기
  • 통권
    제21권 제6호 (2021.12)바로가기
  • 페이지
    pp.1-24
  • 저자
    Christopher Paik, Hoon Paik
  • 언어
    영어(ENG)
  • URL
    https://www.earticle.net/Article/A406762

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원문정보

초록

영어
This study highlights the core concepts of oil hub and theorize the process in which financial apparatus bring functionality to physical structure of an oil hub, namely, financial institutionalization of oil hubs. This will be a very crucial task especially to the Korean government’s Northeast Asian (NEA) Oil Hub project which is close to its completion of the first stage in Ulsan, a southeastern port city of Korea. The second stage of oil hub project would be operational shortly. However, merely building tank terminals would not guarantee an operational oil hub unless it creates sufficient liquidity. The authors of this study use their field experiences of visiting numerous tank terminals, trading companies, and other related institutions and were able to discuss some theoretic design of the structure of oil hubs. This study attempts to provides definitions of key terms in the oil hub business and theorize the fundamentals of how an oil hub can be operational. The authors conclude that unless the project aims at creating sufficient liquidity for the NEA oil hub, it is not guaranteed to be functional. They suggest a practical way of creating liquidity by electronically combining the clearing houses of already existing mercantile exchanges of Korea, Japan, and China. The liquidity generated from this design would lead to accumulation of transactions which establishes a hub-based pricing mechanism. This would lead to the most effective way of creating a functioning oil market in Northeast Asia which would be a complement to or competition with Singapore market.

목차

Abstract
Ⅰ. Introduction
Ⅱ. A Theory
Ⅲ. Financial Institutionalization for Regional Mercantile Exchange
Ⅳ. Prospects and Prerequisites
Ⅴ. Conclusion
References

키워드

Northeast Asian Oil hub NEAMEX Clearing House OTC Turn-Over Ratio

저자

  • Christopher Paik [ Economist, Bank of Korea, Economic Research Institute ] Lead Author
  • Hoon Paik [ Professor, Department of Political Science and International Relations, Chung Ang University ] Corresponding Author

참고문헌

자료제공 : 네이버학술정보

간행물 정보

발행기관

  • 발행기관명
    한국무역통상학회 [Korea Research Association of International Commerce]
  • 설립연도
    2000
  • 분야
    사회과학>무역학
  • 소개
    국제무역에 관한 학술활동 1. 연구발표회 개최 2. 학술지 간행 3. 산학협동을 위한 조사 연구 4. 국제학술교류 5. 기타 학회 목적에 부합하는 사업

간행물

  • 간행물명
    무역통상학회지 [Journal of Korea Research Association of International Commerce]
  • 간기
    격월간
  • pISSN
    1738-4354
  • 수록기간
    2001~2025
  • 등재여부
    KCI 등재
  • 십진분류
    KDC 326 DDC 380

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