IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-333-99274-6_11.html
   My bibliography  Save this book chapter

An Historical Perspective on Speculative Bubbles and Financial Crises: Tulipmania and the South Sea Bubble

In: What Global Economic Crisis?

Author

Listed:
  • Michelle Baddeley
  • John McCombie

Abstract

The rapid pace of globalization over the last decade or so, together with the deregulation of financial markets, has raised concerns about the increasing fragility of the world financial markets. However, as Kindleberger (1996) has shown in his Manias, Panics and Crashes, the problems of the instability of financial assets and commodities may be traced back to the seventeenth century. He cites numerous examples of rapid increases in prices being followed by an even quicker collapse. Such an event, when the price of an asset (or commodity) increases rapidly solely because investors expect it to happen, is termed a ‘speculative bubble’.1

Suggested Citation

  • Michelle Baddeley & John McCombie, 2001. "An Historical Perspective on Speculative Bubbles and Financial Crises: Tulipmania and the South Sea Bubble," Palgrave Macmillan Books, in: Philip Arestis & Michelle Baddeley & John McCombie (ed.), What Global Economic Crisis?, chapter 11, pages 219-243, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-99274-6_11
    DOI: 10.1057/9780333992746_11
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mohamed Ali Chroufa & Nouri Chtourou, 2023. "Asymmetric relationship between exchange rate and inflation in Tunisia: fresh evidence from multiple-threshold NARDL model and Granger quantile causality," SN Business & Economics, Springer, vol. 3(7), pages 1-21, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-333-99274-6_11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.