{"id":511,"date":"2020-04-27T22:27:08","date_gmt":"2020-04-27T14:27:08","guid":{"rendered":"http:\/\/localhost:8888\/?p=511"},"modified":"2025-12-28T05:42:04","modified_gmt":"2025-12-27T21:42:04","slug":"global-liquidity-capital-inflows-and-house-prices-in-asean-economies","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/27\/global-liquidity-capital-inflows-and-house-prices-in-asean-economies\/","title":{"rendered":"Global Liquidity, Capital Inflows and House Prices in ASEAN Economies"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"511\" class=\"elementor elementor-511\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3b38bf22 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3b38bf22\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6ffc5868\" data-id=\"6ffc5868\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-34986273 elementor-widget elementor-widget-text-editor\" data-id=\"34986273\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p class=\"article_title\">Global Liquidity, Capital Inflows and House Prices in ASEAN Economies<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Matthew S. Yiu, Sahminan Sahminan<\/p><p class=\"title_text_large\">105 \/ 126<\/p><p class=\"title_text\">20<\/p><p class=\"title_text\">1<\/p><p class=\"title_text\">2017<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>The quantitative easing policy adopted by the advanced economies since 2009 has led to an abundance in global liquidity. In the same period, the ASEAN-5 economies (Indonesia, Malaysia, the Philippines, Singapore and Thailand) have recorded strong capital inflows, particularly portfolio inflows. The asset prices, in particular, the house prices of these economies, have also experienced excess buoyancy. In this paper, the relationships among global liquidity, house prices and capital flows are studied. Empirically, capital inflows have a positive effect on the residential house prices of Indonesia, Malaysia, the Philippines and Singapore. After accounting for their own domestic demand (by using real GDP growth as a proxy), the capital inflows still have a positive impact in Indonesia and Singapore. The authorities of these economies have implemented similar macroprudential measures to safeguard financial stability and cool down speculative activities. The effectiveness of the measures is mainly the reduction in the transaction volume.<\/p><p><!-- PDF DownloadLink --><\/p><p>\u00a0<\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2020\/10\/v20n1-global-liquidity-capital-inflows-and-house-prices-in-asean-economics.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100237<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Keywords<\/p><p><!-- Keywords --><\/p><p class=\"keywords\">Capital Flows, Residential House Price, Macroprudential, ASEAN Economies<\/p><p><a class=\"backpage\">Back to Previous Page<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div>\n<p class=\"title_label_large\">Author<\/p>\n<p class=\"title_label_large\">Start Page \/ End Page<\/p>\n<p class=\"title_label\">Volume<\/p>\n<p class=\"title_label\">Issue Number<\/p>\n<p class=\"title_label\">Year<\/p>\n<p class=\"title_label_large\">Publication<\/p>\n<\/div>\n<div>\n<!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p>\n<p class=\"title_text_large\">Matthew S. Yiu, Sahminan Sahminan<\/p>\n<p class=\"title_text_large\"> 105 \/ 126<\/p>\n<p class=\"title_text\">20<\/p>\n<p class=\"title_text\">1<\/p>\n<p class=\"title_text\">2017<\/p>\n<p class=\"title_text_large\">International Real Estate Review<\/p>\n<\/div>\n<p class=\"abstract_label mt16\">Keywords<\/p>\n<p class=\"keywords\">Capital Flows, Residential House Price, Macroprudential, ASEAN Economies<\/p>\n<p class=\"downloadLine\"><a href=\"https:\/\/www.um.edu.mo\/fba\/irer\/papers\/past\/vol20n1_pdf\/05.pdf\">Download Entire Article.<img src=\"https:\/\/i.ibb.co\/m8rCXNQ\/download-pdf-large.png\" alt=\"download-pdf-large\" border=\"0\"> <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[52,50],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/511"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=511"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/511\/revisions"}],"predecessor-version":[{"id":5029,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/511\/revisions\/5029"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}