About City
  1. Schools and departments
  2. Education
  3. Rector and President
  4. Governance and leadership
  5. Working at City
  6. History of City
  7. More about City
  8. Campus map
  9. Contact us
  10. Guidance on Coronavirus
  1. Arts and Social Sciences
  2. International Politics
  3. Research students
About City

Dr Angelos Gkanoutas-Leventis

Department of International Politics

City Political Economy Research Centre

E: angelos.gkanoutas-leventis.1@city.ac.uk

Thesis title: The Evolution of the Oil Market. A Study of Financialisation Through Crises

Supervisor: Dr Anastasia Nesvetailova

Overview and research interests

The focus of Angelos's thesis is the evolution of the dynamics and structure of the oil market during the period 1980-2010, as a result of the rise of the process of financialisation. In his work, Angelos inquires how best to understand the nature of financialisation in the context of the contemporary oil market, and for this purpose his study identifies three periods of financialisation in the oil market: 1980-1990, 1991-2001 and 2002-2008, characterised by low, early and advanced financialisation. Focusing on three oil shocks, which occurred during the above periods, Angelos's thesis studies the nature and impact of the process of financialisation on the oil market.

Given this research agenda, Angelos's work is organised into two parts. The first part frames the historical and theoretical foundations of the oil market and financialisation, formulating an alternative framework for understanding the nature of this complex phenomenon and its effects on non-financial markets, such as the oil market. The second part engages in an empirical study of the three identified periods of financialisation. By utilising oil shocks as magnifying lenses for the effects of financialisation, his thesis studies the role of critical events in the evolution of the oil market, and concludes that the process of financialisation has altered the structure and dynamics of the oil market, while introducing strong causality links between performance of this market and that of the international macroeconomies and financial markets.

Angelos holds a B.Sc. in Economics and Politics from Brunel University and an M.Sc. in Policies and Government in the European Union from the London School of Economics and Political Science.

Research interests:

  • Oil Market and financialisation
  • Political economy
  • Behavioural economics and finance


  • "Risks and conditions for the Energy Strategy of Greece" (with Dr Kostas Andriosopoulos), Naftemporiki / ECSP - RCEM (2014).
  • "Cyprus and Greece: Dilemmas in Energy Infrastructure" (with Dr Konstantinos Tsanis and Dr Kostas Andriosopoulos), Ethnos.gr / Natural Gas Europe / ECSP - RCEM (2013).
  • "Financialisation of the Oil Market". Paper presented at the Prices Forum, Petrobras, Rio de Janeiro, Brazil (2012).
  • "What Drives a Financial Crisis? A Perspective from Three Disciplines", in Economic Essays, 2012, Athens Institute for Education and Research, Greece, pp: 223 ff.
  • "Breaking the Boundaries, IPE Meets Critical Political Economy". Paper presented at the workshop on 'The Financialisation of the Oil Market', City University London (2011).
  • "What Drives a Financial Crisis? On Fear, Fundamentals and Financialisation'". Paper presented at the 5th Annual International Symposium on Economic Theory, Policy and Applications, ATINER (2010).
  • "Greece and the EMU. The Realignment of an Evolving Public Opinion", Greek Politics Specialist Group, Political Studies Association (2010).
  • "The Public Opinion and Exchange Rate Policies. Greece and the EMU". Paper presented at the 4th Hellenic Observatory PhD Symposium on Contemporary Greece and Cyprus, LSE (2009).