Do Capital Inflows Matter to Asset Prices? The Case of Korea

Soyoung Kim and Doo Yong Yang

Chapter 3 in Volatile Capital Flows in Korea, 2014, pp 51-82 from Palgrave Macmillan

Abstract: Abstract Do capital inflows influence domestic asset prices? This question is relevant in emerging market economies, which tend to experience a series of boom-bust cycles related to capital flows. The boom-bust cycle begins with a boom stage of credit expansion, investment increases, asset prices rises, and capital inflow surges, and ends up with a bust stage when all of those reverse. As a result, simultaneous occurrences of huge capital inflows and asset price appreciation in emerging countries have often raised concerns about the possibility of another regional economic crisis.

Keywords: Foreign Direct Invest; Gross Domestic Product; Monetary Policy; Asset Price; Real Exchange Rate (search for similar items in EconPapers)
Date: 2014
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Journal Article: Do Capital Inflows Matter to Asset Prices? The Case of Korea (2009)
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DOI: 10.1057/9781137368768_3

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