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

Hussin Salamon, Mansoureh Ebrahimi, Kamaruzaman Yusoff

Research output: Contribution to journalArticle

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.

Original languageEnglish
Pages (from-to)129-138
Number of pages10
JournalAsian Social Science
Volume10
Issue number19
DOIs
Publication statusPublished - 29 Sep 2014
Externally publishedYes

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stock exchange
speculation
stock market
economy
economics
Great Depression
world economy
prosperity
financial crisis
economic growth
Speculation
Crash
New York Stock Exchange
Stock market
Economy
Economics
Stock Market

Keywords

  • Speculation
  • Stock market
  • The New York stock exchange
  • The world great depression

ASJC Scopus subject areas

  • Social Sciences(all)
  • Arts and Humanities(all)
  • Economics, Econometrics and Finance(all)

Cite this

The functions of speculation in economy : An investigation on the New York stock exchange crash (1929-39). / Salamon, Hussin; Ebrahimi, Mansoureh; Yusoff, Kamaruzaman.

In: Asian Social Science, Vol. 10, No. 19, 29.09.2014, p. 129-138.

Research output: Contribution to journalArticle

Salamon, Hussin ; Ebrahimi, Mansoureh ; Yusoff, Kamaruzaman. / The functions of speculation in economy : An investigation on the New York stock exchange crash (1929-39). In: Asian Social Science. 2014 ; Vol. 10, No. 19. pp. 129-138.
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