Girardin, Eric; Liu, Zhenya - In: Journal of Chinese Economic and Business Studies 1 (2003) 1, pp. 57-70
This paper uses Markov-switching techniques to examine the presence of different market conditions on the Shanghai A-share market since the start of active trading in the mid-1990s. The originality of the paper lies in the identification of three contrasting regimes: a speculative market, a bull...