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Diamond investments – Is the market free from multiple price bubbles?

Abstrakt

The following study aims to investigate whether multiple price bubbles, in which the quoted market price of diamonds significantly deviates from their fundamental value, exist in the diamond market. It was conducted using ADF, SADF and GSADF tests, with the latter found to be an optimal form of evaluating the analysed issue. The presented results support the conclusion that the diamond market is not free from periods defined as price bubbles. The study revealed price bubbles related to the leading, albeit declining in recent years, position of De Beers within the market and its activities, the financial crisis of 2008, the subsequent European debt crisis, and the crisis caused by the aggression of the Russian Federation against Ukraine in 2022. However, the identified periods of speculative bubbles in the diamond market are short and tend to affect the rough diamond segment earlier than the broader diamond market.

Cytowania

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Słowa kluczowe

Informacje szczegółowe

Kategoria:
Publikacja w czasopiśmie
Typ:
artykuły w czasopismach
Opublikowano w:
International Review of Financial Analysis nr 83,
ISSN: 1057-5219
Język:
angielski
Rok wydania:
2022
Opis bibliograficzny:
Potrykus M.: Diamond investments – Is the market free from multiple price bubbles?// International Review of Financial Analysis -Vol. 83, (2022), s.102329-
DOI:
Cyfrowy identyfikator dokumentu elektronicznego (otwiera się w nowej karcie) 10.1016/j.irfa.2022.102329
Źródła finansowania:
  • COST_FREE
Weryfikacja:
Politechnika Gdańska

wyświetlono 109 razy

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