Real Estate Volatility and Economic Stability: An East Asian Perspective

Cho, Man / Kyung-Hwan Kim / Bertrand Renaud(Author)

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dc.contributor.authorCho, Man-
dc.contributor.authorKyung-Hwan Kim-
dc.contributor.authorBertrand Renaud-
dc.description.tableOfContentsPreface Summary CHAPTER 1 Introduction CHAPTER 2 Profiling the East Asian Countries  1. Diverse Paths of Economic Growth  2. Housing and Mortgage Market Characteristics  3. Composite Risk Index & Composite Governance Index CHAPTER 3 Patterns of Housing Price Dynamics  1. Overall Patterns of the EA Countries  2. Country Specific Patterns  3. Effects of AFC and GFC CHAPTER 4 Drivers of Housing Price Cycles  1. What Makes Housing Prices Cyclical?  2. Unconditional and Conditional Volatility  3. Role of Market Fundamentals  4. Macroeconomic Linkages  5. Role of Institutional Factors CHAPTER 5 Institutional Drivers of Housing Price Volatility  1. Conceptual Framework and Empirics  2. Key Features of Mortgage Markets and Government Intervention in the Six Case Study Countries  3. Key Features of Property Rights and Supply Side Regulations in the Six Case Study Countries  4. Linking Institutional Factors to Housing Market Volatility in the Six Case Study Countries CHAPTER 6 How Vulnerable is China to a Housing Bust after a Unique Decade?  1. A Unique Decade Has Come to an End  2. Very Rapid Urbanization with Relative Overinvestment in Housing  3. Six Key Actors of the Boom, Their Incentives and Behavior  4. Housing after China’s Economic Growth Take-off  5. Conclusions References Appendix 1. Description of Data and Main Variables Used Appendix 2. Comparison of Housing Finance Systems-
dc.publisherKorea Development Institute-
dc.titleReal Estate Volatility and Economic Stability: An East Asian Perspective-
dc.contributor.affiliatedAuthorCho, Man-
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