Researchers

OKAWA, Hiroyuki, Ph.D.

Researcher, Renewable Energy Group, Clean Energy Unit

Fields of Study: Finance, Empirical Analysis on Commodity Markets Prices

March 2022	Master of Economics, Wakayama University
September 2025	Ph.D in Economics, Kobe University
April 2025	The Institute of Energy Economics, Japan

Hiroyuki Okawa. (2021). Modeling Oil Futures Returns Volatility Under Negative Market Pricing. RIMS Koukyuroku, 2207, 41-52.
Hiroyuki Okawa. (2023). The Fluctuation Factors of Commodity Currencies: Exporting Resource Countries vs. Importing Resource Countries, RIMS Koukyuroku, 2272, 93-113.

Hiroyuki Okawa. (2021) “Changes in dyamics of WTI futures market caused by economic shocks from COVID-19”. The Nippon Finance Association 3rd Fall Conference (Online).
Hiroyuki Okawa. (2023) “Empirical Analysis of Causality between Crude Oil Market with Baltic Dry Index”, JAROS2023 (Akita Univesity, Akita, Japan).
Hiroyuki Okawa. (2023) “The Impact of Commodity Currencies : Exporting Resource Countries vs. Importing Resource Countries”, RIMS FMA2023 (Kyoto University, Kyoto, Japan).
Hiroyuki Okawa. (2024) “Dynamic correlation between global shipping market and U.S. crude oil market: Empircal analysis with diagonal-BEKK modeling”, Young Researcher’s Workshop in 2024 (Aoyama Gakuin University, Tokyo, Japan).
Hiroyuki Okawa. (2024) “Economic relationsships between critical minerals and fossil energies”, RIMS FMA2024 (Kyoto University, Kyoto, Japan).
Hiroyuki Okawa. (2025) “Empirical Analysis concering Determinats Factor of Monthly Returns on Critical Mineral Markets”, Young Researcher’s Workshop in 2025 (Keio University, Tokyo, Japana).