Please use this identifier to cite or link to this item:
|Web of Science®
|Structural breaks and diversification: The impact of the 1997 Asian financial crisis on the integration of Asia-Pacific real estate markets
|Journal of International Money and Finance: theoretical and empirical research in international economics and finance, 2006; 25(6):974-991
|Elsevier Sci Ltd
|Richard Gerlach, Patrick Wilson and Ralf Zurbruegg
|Currently, there exists relatively little research on the influence that the 1997 Asian financial crisis has had upon capital flows within the property market and the associated long-run implications of it. This paper examines the impact that the crisis has had upon the integration and dynamic links between a number of Asia-Pacific real estate markets. The results show that Asia-Pacific property markets are integrated, despite a structural shift occurring at the time of the crisis. These results are a particularly important finding for fund managers concerned with the impact of globalization on the performance of their real estate portfolios, showing that in the Asia-Pacific region diversification benefits are actually less than that suggested by an analysis incorrectly ignoring the crisis.
|Appears in Collections:
|Aurora harvest 2
Business School publications
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.