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The functions of speculation in economy: an investigation on the New York stock exchange crash (1929-39)

Salamon, Hussin and Ebrahimi, Mansoureh and Yusoff, Kamaruzaman (2014) The functions of speculation in economy: an investigation on the New York stock exchange crash (1929-39). Asian Social Science, 10 (19). pp. 129-138. ISSN 1911-2017

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Official URL: http://dx.doi.org/10.5539/ass.v10n19p129

Abstract

The importance of the role played by a stock market in the economic condition of a country is undeniable. An organized and stable stock market reflects an economic stability; progressive economic growth as well as reflecting the economic prosperity. In contrast, an unstable stock market indicates the vulnerable economical position of a country. The main aim of this article is to focus on the negative consequences of speculation and to discuss deeply on its role in financial crises. For this purpose, the crash of the New York Stock Exchange in 1929 will specifically be referred to because it was the world’s greatest economic crash. Consequently, an unstable stock market has caused economic crashes not only for the country in which it occurs but also affects other countries because of interdependent economies. The best example of this situation was the World Great Depression which threatened the world economy in the 1930s.

Item Type:Article
Uncontrolled Keywords:speculation, stock market
Subjects:H Social Sciences > HJ Public Finance
Divisions:Islamic Civilisation
ID Code:62927
Deposited By: Fazli Masari
Deposited On:03 Oct 2017 12:18
Last Modified:03 Oct 2017 12:18

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