Emerging markets;
Capital flows;
House prices;
PVar;
D O I:
10.1007/s10290-022-00487-w
中图分类号:
F [经济];
学科分类号:
02 ;
摘要:
This work studies the impact of Foreign Direct Investment and portfolio flows on house prices of emerging market economies using a static factors panel VARX model. The results show that an increase in both Foreign Direct Investment and portfolio flows leads to higher house prices but that portfolio flows have a more persistent effect. This work also finds that mortgage credit, as a proxy for residential investment, is an essential variable in house price dynamics because it has a higher positive impact than any of the other endogenous variables. The results are robust to different model specifications, such as adding additional lags or changing the order in which the endogenous variables enter the model.
机构:
Univ Econ Ho Chi Minh City UEH, Sch Banking, Ho Chi Minh City, VietnamUniv Econ Ho Chi Minh City UEH, Sch Banking, Ho Chi Minh City, Vietnam
Thong Trung Nguyen
Nasir, Muhammad Ali
论文数: 0引用数: 0
h-index: 0
机构:
Univ Leeds, Leeds Univ Business Sch, Leeds, W Yorkshire, England
Univ Econ Ho Chi Minh City UEH, Ho Chi Minh City, VietnamUniv Econ Ho Chi Minh City UEH, Sch Banking, Ho Chi Minh City, Vietnam
Nasir, Muhammad Ali
Xuan Vinh Vo
论文数: 0引用数: 0
h-index: 0
机构:
Univ Econ Ho Chi Minh City UEH, Inst Business Res, Ho Chi Minh City, Vietnam
Univ Econ Ho Chi Minh City UEH, CFVG, Ho Chi Minh City, VietnamUniv Econ Ho Chi Minh City UEH, Sch Banking, Ho Chi Minh City, Vietnam
机构:
Webster Univ, Int Trade & Int Finance & Banking, Geneva, Switzerland
ESSEC, Paris, France
INSEAD, Fontainebleau, France
Australian Natl Univ, Canberra, ACT, Australia
Univ Sydney, Grad Sch Business, Sydney, NSW, AustraliaWebster Univ, Int Trade & Int Finance & Banking, Geneva, Switzerland
机构:
Univ Teknol Malaysia, Ctr Real Estate Studies, Skudai 81310, Johor, MalaysiaUniv Teknol Malaysia, Ctr Real Estate Studies, Skudai 81310, Johor, Malaysia