Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/22986
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dc.contributor.authorGerlach, R.en
dc.contributor.authorWilson, P.en
dc.contributor.authorZurbrugg, R.Y.en
dc.date.issued2006en
dc.identifier.citationJournal of International Money and Finance, 2006; 25(6):974-991en
dc.identifier.issn0261-5606en
dc.identifier.urihttp://hdl.handle.net/2440/22986-
dc.description.abstractCurrently, 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.en
dc.description.statementofresponsibilityRichard Gerlach, Patrick Wilson and Ralf Zurbrueggen
dc.description.urihttp://www.elsevier.com/wps/find/journaldescription.cws_home/30443/description#descriptionen
dc.language.isoenen
dc.publisherElsevier Sci Ltden
dc.subjectUnit-root hypothesis; oil-price shock; cointegration vectors; regime shifts; common trends; great crash; equity; tests; discovery; modelsen
dc.titleStructural breaks and diversification: The impact of the 1997 Asian financial crisis on the integration of Asia-Pacific real estate marketsen
dc.typeJournal articleen
dc.identifier.rmid0020061640en
dc.identifier.doi10.1016/j.jimonfin.2006.07.002en
dc.identifier.pubid52140-
pubs.library.collectionBusiness School publicationsen
pubs.verification-statusVerifieden
pubs.publication-statusPublisheden
dc.identifier.orcidZurbrugg, R.Y. [0000-0002-8652-0028]en
Appears in Collections:Business School publications

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