CAPITAL INFLOWS AND ASSET PRICES: THE RECENT EVIDENCE OF SELECTED EAST ASIAN ECONOMIES
Journal Title: Asian Economic and Financial Review - Year 2012, Vol 2, Issue 8
Abstract
This paper aims at providing empirical evidence on the relationship between capital inflows and asset prices, focusing on China, Hong Kong, Indonesia, Korea and Thailand. Main findings are: the positive responses of share prices to portfolio inflows shocks were verified in all the estimated economies, which implies the function of the direct channel into stock market; the indirect channel through domestic money supply appeared to work in the economies with peg regime like Hong Kong, whereas it did not in those with floating regime like Indonesia, Korea and Thailand, due to the sterilization of intervention in foreign exchange markets.
Authors and Affiliations
Hiroyuki Taguchi| Cabinet Office, Government of Japan Nakamachidai Tsuzuki-ku Yokohama 224-0041 Japan
Keywords
Related Articles
- EP ID EP1840
- DOI -
- Views 508
- Downloads 39
VOLATILITY MODELLING AND PARAMETRIC VALUE-AT-RISK FORECAST ACCURACY: EVIDENCE FROM METAL PRODUCTS
In this paper, we investigate the one-day-ahead VaR and ES accuracy of four metal daily return series including Aluminium, Copper, Nickel and Zinc. Since, all sample presents volatility clustering, volatility asymmetry,...
VOLATILITY MEAN REVERSION AND STOCK MARKET EFFICIENCY
Traditional econometric models, such as the ordinary least square method, are built on the assumption of constant variance. Financial time series, unlike other economic series, usually exhibit a set of peculiar character...
A STUDY ON FACTORS AFFECTING TURNOVER INTENTION OF HOTEL EMPOLYEES
This study used linear structural modeling to explore the factors affecting the turnover intention of hotel employees in Taiwan. A total of 400 questionnaires were distributed to hotel employees. Among these, 350 were va...
THE EFFECT OF VALUATION RATIOS, GOLD PRICE, AND PETROLEUM PRICE ON EQUITY RETURNS: A COMPARISON OF STATIC PANEL AND QUANTILE REGRESSIONS
The purpose of this paper is to investigate to impact of valuation ratios, oil price changes and gold price changes on equity returns using static panel regression and quantile regression for 25 industrial firms at ISE (...
EMPLOYEE BRANDING MODEL BASED ON INDIVIDUAL AND ORGANIZATIONAL VALUES IN THE IRANIAN BANKING INDUSTRY
In the competitive world of today, every company knows that their main asset is human resources, since employees have a crucial role in building strong a brand. But researches show that more managers do not pay attention...