EconPapers    
Economics at your fingertips  
 

Capital Inflows and Asset Prices: The Recent Evidence of Selected East Asian Economies

Hiroyuki Taguchi

Asian Economic and Financial Review, 2012, vol. 2, issue 8, 902-920

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.

Keywords: capital inflows; asset prices; East Asian emerging market economies; impulse responses to capital inflows shocks; sterilization (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed

Downloads: (external link)
http://www.aessweb.com/download.php?id=1612 (application/pdf)
http://www.aessweb.com/archives.php?m=December&id=1612 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:asi:aeafrj:2012:p:902-920

Access Statistics for this article

Asian Economic and Financial Review is currently edited by Dr. Qazi Muhammad Adnan Hye

More articles in Asian Economic and Financial Review from Asian Economic and Social Society Sadeeq Block, Near Fawara Chowk, Abbasia Town, Rahim Yar Khan - 64200, Punjab, Pakistan.
Bibliographic data for series maintained by Chan Hoi Yan ().

 
Page updated 2019-07-19
Handle: RePEc:asi:aeafrj:2012:p:902-920