We combined tests for speculative bubbles in stock markets with a cross-country regression framework to analyse whether economic and institutional variables can be identified that make speculative bubbles in stock markets more likely to occur. The list of variables that we found to have a significant effect on the probability that a speculative bubble arises includes an index of shareholder rights (with a negative sign), the share of assets of foreign-owned banks in total banking assets (with a positive sign) and the ratio of gross private saving to gross private disposable income (with a positive sign).View full textDownload full textKeywordsspeculative bubbles, stock marketsJEL ClassificationC32, E32, E44, G12Related var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/13504851.2011.613752
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