9789814623681-9814623687-From the Global Financial Tsunami to the Property Bubbles in Asia: The Need for a New Discipline on Macroeconomic Management

From the Global Financial Tsunami to the Property Bubbles in Asia: The Need for a New Discipline on Macroeconomic Management

ISBN-13: 9789814623681
ISBN-10: 9814623687
Author: Paul Sau-Leung Yip
Publication date: 2019
Publisher: World Scientific Publishing Co
Format: Hardcover 250 pages
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Book details

ISBN-13: 9789814623681
ISBN-10: 9814623687
Author: Paul Sau-Leung Yip
Publication date: 2019
Publisher: World Scientific Publishing Co
Format: Hardcover 250 pages

Summary

Acknowledged author Paul Sau-Leung Yip wrote From the Global Financial Tsunami to the Property Bubbles in Asia: The Need for a New Discipline on Macroeconomic Management comprising 250 pages back in 2019. Textbook and eTextbook are published under ISBN 9814623687 and 9789814623681. Since then From the Global Financial Tsunami to the Property Bubbles in Asia: The Need for a New Discipline on Macroeconomic Management textbook was available to sell back to BooksRun online for the top buyback price or rent at the marketplace.

Description

This book discusses the formation of the current huge property bubbles in many Asian economies and the high likelihood of another Asian financial crisis due to the eventual bursting of these property bubbles. In particular, it explains

  • How the Quantitative Easing (QE) programs in the US and other major economies helped the global economy avoid a great depression during the Global Financial Tsunami;
  • How the QE programs contributed to the formation of huge property bubbles in many Asian economies;
  • The pricing power and hoarding power of Asian developers due to the market structure problem and the indicator effect (from new property prices to resale property prices) in Asian housing markets;
  • The role of the market structure problem and indicator effect in the formation of the current property bubbles in many Asian economies;
  • The important characteristics of the seeding stage, the development stage and the final stage of an asset bubble;
  • How the understanding of these characteristics could help policy makers to pre-empt an asset bubble in the seeding stage, and effectively curb the asset bubble at the development stage;
  • The theoretical framework in this book would be extremely useful to investment decisions by property, shares and other asset investors;
  • The high likelihood of an eventual bursting of the gigantic property bubbles in Hong Kong, India or another highly risky Asian economy, which would in turn trigger another Asian financial crisis;
  • The underlying causes of the housing problems (especially high real housing prices) in Asia, and the recommended long-term solution.
In view of the huge costs due to the macroeconomic policy mistakes in many developing economies and some advanced economies, this book recommends the development of a new economic discipline on macroeconomic management and rigorous selection procedures of key economic and monetary officials. If properly done, these would help pre-empt financial crises, currency crises and asset bubbles. While the focus of the book is on macroeconomic management, it also provides important lessons on share and property investments. Thus, economists, policy makers, central bank officials, institutional and individual investors, business and finance professionals, economics students and academia in other disciplines will find the book useful.

Readership: Undergraduates and academics in macroeconomics, business economists, finance professionals, monetary and housing authorities in Asia, corporate investment departments, individual investors, analysts and people who are interested in economic policies and Asian economies.

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