Sanjar Okilbekov
Location Based Financial Risk: Country Risk Rankings.
Rel. Franco Varetto. Politecnico di Torino, Master of science program in Engineering And Management, 2019
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Abstract
Tulip mania of Dutch Golden Age in the early 17th century is considered the first recorded speculative bubble. However, economic incidents and financial speculations weakening a nation’s economy had been happening since as early as ancient times. The Roman emperor Nero was one of the pioneers to debase his empire’s currency by decreasing its silver content in 60 AD, in turn producing an annual inflation of around 1,000%. After so many years these events still follow the same pattern, governments print more money to make paying their debts easier, bubbles grow and burst and people keep doing the same mistakes over and over again.
Reinhart and Rogoff described this phenomenon best in their book “This time is different”: “The essence of this time is different is simple
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