Spikes and shocks : the financialisation of the oil market from 1980 to the present day 4 Finance and the Oil Market: Introducing a Comprehensive Approach to Analysing the Financialisation Process4.1 Analysing Financialisation: Financial Economy vs Real Economy Conceptualising Performativity and the Emergence of New Financial Actors; 4.1.1 Performativity and Performative Cycles; 4.2 Analysing Financialisation: Behaviour of the Financial Actors; 4.2.1 The Behavioural Finance Approach: From the False Sense of Control to Mob Psychology; 4.3 Analysing Financialisation: The Role of Technology and Regulatory Evolution; Note; References 8.2 Technology and Regulation: The Three Factors that Changed the Oil MarketReferences; 9 The Three Phases of Oil Financialisation: Advanced Financialisation (2002 2015); 9.1 Macroeconomic Background; 9.2 The 2008 Oil Price Shock and the Role of Speculative Financial Activity; 9.3 Independent Variables Shaping the Market Dynamics; 9.3.1 Drivers behind Speculation on Oil Markets; References; Part III Financialisation of Oil Market and Evolution of Oil Markets Actor Structure; 10 Financialisation of the Oil Market: The Four Actor Structure Part II The Three Phases of Oil Financialisation5 Oil Products and Oil Based Financial Products; References; 6 Oil Shocks as Barometers of the Financialisation Process; 6.1 Oil Shocks and Macroeconomic Performance; References; 7 The Three Phases of Oil Financialisation: Early Financialisation (1980 1999); 7.1 Macroeconomic Background; 7.2 The Oil Price Spike Effects; 7.3 Financial Dimension of Oil Markets: The Emergence of Oil Futures and Swap Investments; References; 8 The Three Phases of Oil Financialisation: Low Financialisation (1999 2002); 8.1 Macroeconomic Background Spikes and Shocks; Acknowledgements; Contents; List of Figures; List of Tables; 1 Introduction; Reference; Part I Conceptualising Financialisation; 2 The History of the Oil Market until the 1980s; References; 3 The Many Faces of Financialisation; 3.1 The Systemic Perspective: Regimes Capital and Financial Geography; 3.2 The Institutional Perspective: Looking beyond the Real Production Financial Profit Nexus; 3.3 Could the Institutional and the Systemic Approaches be Bridged; References 10.1 The New Group of Actors on the Oil Market: Characteristics and Behaviour10.1.1 Speculative Behaviour of New Market Actors; 10.2 New Financial Market Players Transforming the Oil Market: Oil Spot Prices and Futures Prices in Focus; 10.2.1 Expectations and Behaviour of the Financial Actors; References; 11 Epilogue; References; Index