FINANCIAL STABILITY AND INCOME GROWTH IN EMERGING MARKETS

Bashir T. Mande, Afees Salisu, Adeola N. Jimoh, Fola Dosumu and Girei H. Adamu
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Bashir T. Mande: Nigeria Deposit Insurance Corporation
Adeola N. Jimoh: Nigeria Deposit Insurance Corporation
Fola Dosumu: Nigeria Deposit Insurance Corporation
Girei H. Adamu: Nigeria Deposit Insurance Corporation

Bulletin of Monetary Economics and Banking, 2020, vol. 23, issue 2, 201-220

Abstract: In this paper, I empirically study the amplitudes and durations of housing cycles in selected emerging countries. Using the Harding and Pagan (2002) approach, I identify peaks and troughs of house prices for 10 countries. I find that, on average, housing expansions last longer and have greater amplitudes than housing contractions. I, then, estimate a discrete time survival model of housing expansions and contractions. I show that both contractions and expansions have positive duration dependence. I find that inflation and economic growth are useful predictors for the end of periods of expansions and contractions.

Keywords: Financial stability; Emerging markets; Static and Dynamic panels; Per capita income (search for similar items in EconPapers)
JEL-codes: C33 E01 E44 O11 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:23:y:2020:i:2c:p:201-220

DOI: 10.21098/bemp.v23i2.1247

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