Economic theory suggests that speculative trading can lead to instability in financial markets. Using a novel dataset on retail trading activity in the US, this study extends the literature and investigates the impact of retail (speculative) trading on the volatility of the financial markets...

Energy is one of the most basic requirements of modern economic life in the world. The international oil prices and stock markets have important relationships with each other. This paper examines the impact of crude oil price growth on stock market crashes at different levels of financial...

This paper examines the effect of capital account liberalization on stock market crashes using both de jure and de facto measures of capital account liberalization. Using a sample of 64 countries over the time period of 1973-2016, we show that with restricted de jure capital account...

Energy is one of the most basic requirements of modern economic life in the world. The international oil prices and stock markets have important relationships with each other. This paper examines the impact of crude oil price growth on stock market crashes at different levels of financial...