The role of the media in a bubble

G. Campbell; J.D. Turner; C.B. Walker

doi:10.1016/j.eeh.2012.07.002

The role of the media in a bubble

G. Campbell, J.D. Turner, C.B. Walker

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14 Citations (Scopus)

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Abstract

We examine the role of the news media during the British Railway Mania, arguably one of the largest financial bubbles in history. Our analysis suggests that the press responded to changes in the stock market, and its reporting of recent events may have influenced asset prices. However, we find no evidence that the sentiment of the media, or the attention which it gave to particular stocks, had any influence on exacerbating or ending the Mania. The main contribution of the media was to provide factual information which investors could use to inform their decisions. © 2012 Elsevier Inc.

Original language	English
Pages (from-to)	461-481
Number of pages	21
Journal	Explorations in Economic History
Volume	49
Issue number	4
DOIs	https://doi.org/10.1016/j.eeh.2012.07.002
Publication status	Published - 01 Oct 2012

ASJC Scopus subject areas

Economics and Econometrics
History

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10.1016/j.eeh.2012.07.002

The role of the media in a bubble
© 2012 Elsevier Inc This is the author’s version of a work that was accepted for publication in Explorations in Economic History. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Explorations in Economic History, Vol. 49, 10/2012.
Accepted author manuscript, 563 KB

Cite this

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The role of the media in a bubble

Abstract

ASJC Scopus subject areas

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