Negative Bubbles and Unpredictability of Financial Markets: The Asian Currency Crisis in 1997
AbstractWe 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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Bibliographic InfoPaper provided by Institute of Developing Economies, Japan External Trade Organization(JETRO) in its series IDE Discussion Papers with number 65.
Date of creation: Jun 2006
Date of revision:
Publication status: Published in IDE Discussion Paper. No. 65. 2006.6
Postal: Publication Office, IDE 3-2-2 Wakaba, Mihama-ku, Chiba-shi, Chiba 261-8545 JAPAN
Find related papers by JEL classification:
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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