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Regimeology of coal markets

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Category: Economy and Management

Last Updated on 22 May 2018

Published on 16 May 2018

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Authors:

O.Amosha, Acad. of NAS of Ukraine, Dr. Sc. (Econ.), orcid.org/0000-0003-0189-3819, Institute of Industrial Economics of National Academy of Sciences of Ukraine, Kyiv, Ukraine, e-mail: zaloznova @nas.gov.ua; This email address is being protected from spambots. You need JavaScript enabled to view it.

Yu. Zaloznova, Dr. Sc. (Econ.), Senior Research Fellow, orcid.org/0000-0003-3106-1490, Institute of Industrial Economics of National Academy of Sciences of Ukraine, Kyiv, Ukraine, e-mail: zaloznova @nas.gov.ua; This email address is being protected from spambots. You need JavaScript enabled to view it.

D. Cherevatskyi, Cand. Sc. (Tech.), Senior Research Fellow, orcid.org/0000-0003-4038-6393, Institute of Industrial Economics of National Academy of Sciences of Ukraine, Kyiv, Ukraine, e-mail: zaloznova @nas.gov.ua; This email address is being protected from spambots. You need JavaScript enabled to view it.

Abstract:

Purpose. Consideration of the theoretical and practical aspects of establishing and changing the operating modes of coal markets

Methodology. The main methods of research are scientific abstractions, analysis and synthesis. Performance of work provides for the presentation of the concepts of transactions (market, hierarchy, hybrid), the definition of the main modes of functioning of existing coal markets, justification of the reasons of change of the modes of coal markets, the use of regimes to achieve a new market equilibrium, the interpretation of the results of observations in relation to Ukrainian realities.

Findings. The coal markets are in the regime of economic networks (a hybrid form) most of the time and only in cases of essential violations of demand or the offer they switch over to the market modes of price balancing. At the same time, there is an activation of regimes of equilibration of the interests of market participants, which return the system to network operation.

Originality. It is shown that the world coal markets mainly function in a hybrid mode, more precisely, in the mode of economic networks.

Practical value. Ukrainian thermal power engineering, which operates mainly in inter-sectoral hierarchy, is forced to resort to establishing a network of relationships with suppliers of coal resources, such as American companies, due to the loss of government control over anthracite sources. The pricing system for coal, currently implemented in Ukraine, is based on European market indices, which implies that its characteristic formula “Rotterdam +” is groundless and leads to negative economic effects for domestic consumers of electric power.

References.

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