Comparing two financial crises : the case of Hong Kong real estate markets
Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45) › 12_Chapter in an edited book (Author)
Author(s)
Related Research Unit(s)
Detail(s)
| Original language | English |
|---|---|
| Title of host publication | Global housing markets |
| Subtitle of host publication | crises, policies, and institutions |
| Editors | Ashok Deo Bardhan, Robert H. Edelstein, Cynthia A. Kroll |
| Place of Publication | Hoboken, N.J. |
| Publisher | John Wiley & Sons |
| Pages | 377-398 |
| ISBN (Print) | 9780470647141, 0470647140 |
| Publication status | Published - Oct 2011 |
Publication series
| Name | Reviews of environmental contamination and toxicology |
|---|---|
| Volume | 223 |
Link(s)
| Permanent Link | https://scholars.cityu.edu.hk/en/publications/publication(c5d9d208-22f5-4b9d-bdb4-54b5ee99c280).html |
|---|
Abstract
Hong Kong is no stranger to bubbles or crisis. During the Asian financial crisis (AFC), the Hong Kong housing price index dropped more than 50 percent in less than a year. The same market then experienced the Internet bubble, the SARS attack, and recently the global financial crisis (GFC). This chapter provides some “stylized facts,” follows the event-study methodology to examine whether the markets behaved differently in the AFC and GFC, and discusses the possible linkage to the change in government policies (“learning effect”) and the flow of Chinese consumers and investors to Hong Kong (“China factor”).
Citation Format(s)
Comparing two financial crises : the case of Hong Kong real estate markets. / Leung, Charles K Y; TANG, Chi Ho.
Global housing markets: crises, policies, and institutions. ed. / Ashok Deo Bardhan; Robert H. Edelstein; Cynthia A. Kroll. Hoboken, N.J. : John Wiley & Sons, 2011. p. 377-398 17 (Reviews of environmental contamination and toxicology; Vol. 223).Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45) › 12_Chapter in an edited book (Author)
