Negative Bubbles and Unpredictability of Financial Markets: The Asian Currency Crisis in 1997

We obtain the three following conclusions. First, business cycles depend on prices of stocks and primary commodities such as crude oil. Second, stock prices and oil prices generate psychological cycles with different periods. Third, there exist cases of "negative bubble" under certain conditions. Integrating the above results, we can find a role of a government in financial market in developing countries.

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Year of publication:	2006-06
Authors:	Kuchiki, Akifumi
Institutions:	Institute of Developing Economies, Japan External Trade Organization (JETRO)
Subject:	Cycles \| Unpredictability \| Negative bubbles \| Governments \| Financial market \| Money \| Financial crises \| Asia

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Extent:	application/pdf
Series:	IDE Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in IDE Discussion Paper. No. 65. 2006.6 Number 65
Classification:	G18 - Government Policy and Regulation ; O16 - Financial Markets; Saving and Capital Investment
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005227609