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 …

Clientele-based theories explaining asset price bubbles are often difficult to test because the identities of investors …

The efficiency of financial markets and their potential to produce bubbles are central topics in academic and … with bubble-drivers-capital inflows or high initial capital supply-are susceptible to bubbles, but they are significantly …

The efficiency of financial markets and their potential to produce bubbles are central topics in academic and … with bubble-drivers - capital inflows or high initial capital supply - are susceptible to bubbles, but they are …