Bubble detection in the Malaysian housing market

This study uses Phillips, Shi and Yu's (2015) bubble detection method to examine housing bubbles in Malaysia. We documented five positive bubbles and one negative bubble from 1988 to 2015, including the well-known 1997 Asian real estate bubble. The bubble that originated in April 2010 is the mo...

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Bibliographic Details
Published inMalaysian journal of economic studies Vol. 54; no. 2; pp. 203 - 221
Main Authors Yip, Chee Yin, Wong, Woei Chyuan, Lim, Hock Eam
Format Journal Article
LanguageEnglish
Published Kuala Lumpur Malaysian Economic Association 01.12.2017
Subjects
Capital assets
Crude oil prices
Econometrics
Economic activity
Economic conditions
Economic growth
Economic indicators
Finance
GDP
Gross Domestic Product
Housing
Housing prices
Inflation
Interest rates
International finance
Mortgage loans
Price increases
Prices
Real estate financing
Real estate investment
Real property
Recessions
Malaysia
Hong Kong China
United States > US
Asia
China
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Summary:This study uses Phillips, Shi and Yu's (2015) bubble detection method to examine housing bubbles in Malaysia. We documented five positive bubbles and one negative bubble from 1988 to 2015, including the well-known 1997 Asian real estate bubble. The bubble that originated in April 2010 is the most prominent. It peaked in 2013. Since then, it has been exhibiting strong signs of gradual collapse but was still persisting up to the end of the study period in September 2015. Some of these bubbles preceded financial crises, a phenomenon which is consistent with the findings of contagion channels between real estate and financial markets in the literature.
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Malaysian Journal of Economic Studies, Vol. 54, No. 2, Dec 2017: 203-221
ISSN:1511-4554
DOI:10.22452/MJES.vol54no2.2