Stock Markets, Speculative Bubbles and Economic Growth: New Dimensions in [Hardcover]

Mathias Binswanger (Author)

Book Description

Publication Date: November 1999 | ISBN-10: 1840640715 | ISBN-13: 978-1840640717 | Edition: 1 Ed

Bonswanger (economics, the University of Applied Sciences, Switzerland) sheds new light on the role of speculative bubbles in the stock market and argues that bubbles may have a positive effect. He refutes arguments that bubbles increase instability, and contends that bubbles may provide additional investment opportunities with the potential to increase aggregate profits. He demonstrates that highly sophisticated financial systems are needed in order to allow for positive effects to develop, and examines recent experience in Asia where destabilizing effects of bubbles outweighed potential benefits.

Editorial Reviews

Review

'A well-crafted book combining strong theoretical analysis with empirical verification, in an attempt to shed light on an important new economic phenomenon.' -- Paul de Grauwe, University of Leuven, Belgium

'An interesting and challenging contribution that contrasts the existing literature on the real foundations of financial markets in a refreshing way.' -- Heinz Zimmermann, University of St. Gallen, Switzerland

...gives a more reasoned economic approach to current markets than can be found in the more popular texts...' -- - Edmund A. Mennis, Business Economics, July 2000

The book is excellent reading for advanced courses and researchers in financial and monetary macroeconomics. -- – E. Ahmed, Journal of Economics / Zeitschrift für Nationalökonomie

This book integrates economic theory and financial markets, with extensive empirical verification that provides much food for thought. -- - Edmund A. Mennis, Business Economics, July 2000

About the Author

Professor of Economics, University of Applied Sciences, Olten, Switzerland

Product Details

• Hardcover: 384 pages
• Publisher: Edward Elgar Pub; 1 Ed edition (November 1999)
• Language: English
• ISBN-10: 1840640715
• ISBN-13: 978-1840640717
• Product Dimensions: 9.2 x 6.1 x 1.1 inches
• Shipping Weight: 1.5 pounds (View shipping rates and policies)
• Amazon Best Sellers Rank: #6,359,635 in Books (See Top 100 in Books)

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