E3S Web Conf.
Volume 214, 20202020 International Conference on Energy Big Data and Low-carbon Development Management (EBLDM 2020)
|Number of page(s)||6|
|Section||Digital Development and Environmental Management of Energy Supply Chain|
|Published online||07 December 2020|
Research on the Influence of Economic Policy Uncertainty on the Supply Chain Finance
1 School of Economics & Management, Jiangsu University of Science & Technology
2 CSSC Modern Logistics Research Center Zhenjiang, Jiangsu, China
3 School of Economics & Management, Jiangsu University of Science & Technology
4 Minsheng Securities Research Institute Zhenjiang, Jiangsu, China
5 School of Economics & Management, Jiangsu University of Science & Technology
6 CSSC Modern Logistics Research Center Zhenjiang, Jiangsu, China
Based on the background of continuous increasing external economic uncertainty, this paper builds GARCH-MIDAS model to explore the volatility of copper price caused by global economic policy uncertainty in copper supply chain finance and analyzes the changes of refined copper supply and demand caused by this volatility. It is found that the increases of economic policy uncertainty will enhance the long- term volatility of copper. Moreover, the violent fluctuation of copper price caused by the impact of powerful economic policy uncertainty will weaken the demand confidence of refined copper market and lead to the phenomenon of oversupply. On the contrary, the moderate fluctuation of copper price due to the impact of weak economic policy uncertainty will boost the demand confidence of refined copper market and lead to the phenomenon of short supply.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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