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@article{ART002920431},
author={Jiye Ryu and KiHoon Hong and Jinhee Kim},
title={The Korean Art Market: Boom or Bubble?},
journal={Asset Management Review},
issn={2288-6672},
year={2022},
volume={10},
number={2},
pages={18-36},
doi={10.23007/amr.2022.10.2.18}

TY - JOUR
AU - Jiye Ryu
AU - KiHoon Hong
AU - Jinhee Kim
TI - The Korean Art Market: Boom or Bubble?
JO - Asset Management Review
PY - 2022
VL - 10
IS - 2
PB - Institute of Management Research, SungKyunKwan University
SP - 18
EP - 36
SN - 2288-6672
AB - This research examines whether the Korean art market experiences a boom or a bubble. Since 2020, the Korean art market has marked record prices, and in turn, there is an argumentwhether the Korean art market is going through the bubble or the speculative bubbles. Usingthe auction data from Seoul Auction and K Auction during 1998-2021, this paper investigatesthe existence of speculative bubbles using the SADF test. We implement the SADF tests on thewhole market and the five different genres and find no evidence of speculative bubbles. Theseresults indicate that the current expansion of the Korean art market is not an outcome of explosivebehaviors. It is rather a consequence of increased liquidity with a widening of the customerbase.
KW - Art market;Alternative investments;Price index;Speculative bubbles
DO - 10.23007/amr.2022.10.2.18
ER -

Jiye Ryu, KiHoon Hong and Jinhee Kim. (2022). The Korean Art Market: Boom or Bubble?. Asset Management Review, 10(2), 18-36.

Jiye Ryu, KiHoon Hong and Jinhee Kim. 2022, "The Korean Art Market: Boom or Bubble?", Asset Management Review, vol.10, no.2 pp.18-36. Available from: doi:10.23007/amr.2022.10.2.18

Jiye Ryu, KiHoon Hong, Jinhee Kim "The Korean Art Market: Boom or Bubble?" Asset Management Review 10.2 pp.18-36 (2022) : 18.

Jiye Ryu, KiHoon Hong, Jinhee Kim. The Korean Art Market: Boom or Bubble?. 2022; 10(2), 18-36. Available from: doi:10.23007/amr.2022.10.2.18

Jiye Ryu, KiHoon Hong and Jinhee Kim. "The Korean Art Market: Boom or Bubble?" Asset Management Review 10, no.2 (2022) : 18-36.doi: 10.23007/amr.2022.10.2.18

Jiye Ryu; KiHoon Hong; Jinhee Kim. The Korean Art Market: Boom or Bubble?. Asset Management Review, 10(2), 18-36. doi: 10.23007/amr.2022.10.2.18

Jiye Ryu; KiHoon Hong; Jinhee Kim. The Korean Art Market: Boom or Bubble?. Asset Management Review. 2022; 10(2) 18-36. doi: 10.23007/amr.2022.10.2.18

Jiye Ryu, KiHoon Hong, Jinhee Kim. The Korean Art Market: Boom or Bubble?. 2022; 10(2), 18-36. Available from: doi:10.23007/amr.2022.10.2.18

Jiye Ryu, KiHoon Hong and Jinhee Kim. "The Korean Art Market: Boom or Bubble?" Asset Management Review 10, no.2 (2022) : 18-36.doi: 10.23007/amr.2022.10.2.18