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From Tulips to Black Swans – Have the Financial Rules Changed?

Author

Listed:
  • Stoian Andrei

    (The Academy of Economic Studies)

  • Becherescu Radu

Abstract

From the tulip mania back in the 17th century in Holland up to the US subprime crisis considered by many a “black swan” – the unpredictable and improbable event that had such a great impact, the financial world has been hit by many crises. This paper emphasizes the idea that although most of the economists did not predict the crises coming, the signs that eventually led to the dramatic outcomes were present and one should learn from these unfortunate events in order to better prevent and manage any future financial disasters

Suggested Citation

  • Stoian Andrei & Becherescu Radu, 2013. "From Tulips to Black Swans – Have the Financial Rules Changed?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 97-100, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:97-100
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    Keywords

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    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G01 - Financial Economics - - General - - - Financial Crises

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