ANALYZING MULTIPLE BUBBLES IN THE USDKZT EXCHANGE RATE USING THE GSADF TEST

Since most of the financial crisis caused by bursting bubble assets, investigation behaviors and early detection for prevention adverse economic consequences is important. This paper investigates whether multiple price bubbles exist in USDKZT exchange rate on basis a recursive right tailed Generalized Supremum Augmented Dickey Fuller Test (GSADF) developed Phillips, Shi Yu (2015), as well to determine date stamps bubbles. In this regard, we performed GSADF test using weekly closing prices nominal period between 23.08.2015 04.04.2021. line with empirical findings obtained, two explosive are detected 2018 2020 when deviates from fundamental value. Our findings suggest that due possibility repetition, has been verified be better detecting