result has been a succession of bubbles and crashes, including the worldwide stock market bubble and great crash of 19 … market bubbles and its ensuing “lost decades”, the emerging markets bubbles and crashes in 1994 and 1997, the LTCM crisis of … 1998, the dotcom bubble bursting in 2000, the recent house price bubbles, the financialization bubble via special …

, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …

This paper explores the relation between the quality of financial institution and asset bubbles. In this paper, we will … show that bubbles can improve the macro performance even if the quality of financial institution is very poor and the … financial market does not work well. In this sense, the high quality of financial institution and bubbles are substitutes. We …

We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis … asset price bubbles. Moreover, asset shortages can also explain the current account positions of EMs. The findings suggest …

, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …