The Liberalization of the Romanian Gas Market
The Liberalization of the Romanian Gas Market
Author(s): Irina Marilena BanSubject(s): Economy
Published by: Alma Mater & Universitatea »Babes Bolyai« Cluj - Facultatea de St. Economice si Gestiunea Afacerilor
Keywords: natural gas market; liberalization; captive consumers; eligible consumers; Granger causality
Summary/Abstract: The main purpose of the present paper is to analyze the natural gas market in Romania and the impact of the liberalization process that has begun in 2004. We proposed the Granger causality methodology based on VAR models in order to reveal the determinants of gas price in Romania. On one hand, our results show that between 2007 and 2011 there are no others factors of influence for the price of gas except ANRE, the institution that sets its level for captive customers. On the other hand, when estimating a demand function of the market, we noticed that the consumption of gas is influenced by price and not by income level.
Journal: Review of Economic Studies and Research Virgil Madgearu
- Issue Year: V/2012
- Issue No: 2
- Page Range: 31-48
- Page Count: 18
- Language: English
- Content File-PDF
