Capital Inflows and Asset Prices: Evidence from Emerging Asia
Research Area: | Macroeconomics, Monetary Policy |
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Researcher: | Peter Tillmann |
Date: |
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Abstract: |
The withdrawal of foreign capital from emerging countries at the height of the recent financial crisis and its quick return sparked a debate about the impact of capital flow surges on asset markets. This paper addresses the response of property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market economies, for which the waves of inflows were particularly |
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