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|Title:||The risk of property bubbles in Hong Kong and Singapore : another aftershock crisis of the global financial Tsunami?||Authors:||Yip, Paul Sau Leung||Keywords:||Social sciences::Economic development||Issue Date:||2014||Source:||Yip, P. S. L. (2014). The risk of property bubbles in Hong Kong and Singapore : another aftershock crisis of the global financial Tsunami? Singapore Economic Review, 59(3), 1450026-. doi:10.1142/S021759081450026X||Journal:||Singapore Economic Review||Abstract:||This paper first provides a brief review of the global financial tsunami. It then explains why the quantitative easing in the US and the unique characteristics of the Asian property markets have contributed to the formation of property bubbles in some Asian economies. Thereafter, it discusses the possibility of a bursting of property bubbles in Hong Kong, Singapore or another Asian economy a few years from now, and highlights that the bursting of the property bubble in that economy could trigger severe corrections of property prices in this region through the contagion effect. After pointing out that the implied crisis could be more severe than that during the Asian Financial Crisis, it (i) discusses policies that could mitigate the damages of the potential crisis and (ii) draws important lessons and conclusions that could pre-empt similar disasters in the future.||URI:||https://hdl.handle.net/10356/146513||ISSN:||0217-5908||DOI:||10.1142/S021759081450026X||Schools:||School of Social Sciences||Rights:||© 2014 World Scientific Publishing Company. All rights reserved.||Fulltext Permission:||none||Fulltext Availability:||No Fulltext|
|Appears in Collections:||SSS Journal Articles|
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