IDEAS home Printed from https://ideas.repec.org/a/bla/ijurrs/v23y1999i1p147-164.html
   My bibliography  Save this article

The internationalization of post‐1980 property cycles and the Japanese ‘bubble’ economy, 1986–96

Author

Listed:
  • Alizera Dehesh
  • Cedric Pugh

Abstract

Cyclicity has long been a characteristic of urban land and property markets. In some periods, especially in times of macro‐economic stability, it is subdued and readily manageable, and in other periods it is exceptional in terms of its amplitude, periodicity and overall economic impacts. In the post‐1980 period, however, not only have some cycles been exceptional in the above sense, they have also been exceptional in the sense that their causes and consequences are internationally transmitted. Accordingly, the post 1980 exceptional cyclicities merit theoretical and situational explanation. The purpose of this article is to explain the exceptional cycles occurring since 1980 from a theoretical point of view, focusing mainly on the situation in Japan where the impacts have been most significant and extreme. Les cycles constituent depuis longtemps une des caractéristiques des terrains urbains et du marché immobilier. À; certaines époques, particulièrement aux moments de stabilite ?? macro‐économique, elle est contenue et aisée a` gérer, alors qu’a` d’autres moments son amplitude, son état périodique et son impact économique général sont exceptionnels. Cependant, dans la période d’après 1980, non seulement certains cycles ont été exceptionnels dans le sens ci‐dessus, mais ils ont aussi été exceptionnels dans le sens que leurs causes et leurs conséquences sont transmises dans le monde entier. Par conséquent, les cycles exceptionnels d’après 1980 demandent une explication théorique et contextuelle. Le but de cet article est d’expliquer les cycles exceptionnels qui ont eu lieu depuis 1980 d’un point de vue théorique, en examinant principalement la situation du Japon ou` les impacts ont été les plus significatifs et les plus extrêmes.

Suggested Citation

  • Alizera Dehesh & Cedric Pugh, 1999. "The internationalization of post‐1980 property cycles and the Japanese ‘bubble’ economy, 1986–96," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 23(1), pages 147-164, March.
  • Handle: RePEc:bla:ijurrs:v:23:y:1999:i:1:p:147-164
    DOI: 10.1111/1468-2427.00183
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-2427.00183
    Download Restriction: no

    File URL: https://libkey.io/10.1111/1468-2427.00183?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Quinn, William & Turner, John D., 2020. "Bubbles in history," QUCEH Working Paper Series 2020-07, Queen's University Belfast, Queen's University Centre for Economic History.
    2. Konstantin A. Kholodilin & Sebastian Kohl & Florian Müller, 2023. "Government-Made House Price Bubbles? Austerity, Homeownership, Rental, and Credit Liberalization Policies and the “Irrational Exuberance” on Housing Markets," Discussion Papers of DIW Berlin 2061, DIW Berlin, German Institute for Economic Research.
    3. Natacha Aveline-Dubach, 2020. "The financialization of real estate in megacities and its variegated trajectories in East Asia [La financiarisation de l'immobilier dans les mégapoles d'Asie orientale et leurs trajectoires différe," Post-Print halshs-02517518, HAL.
    4. Natacha Aveline-Dubach, 2004. "Property markets in Tokyo and the management of the last Boom-bust cycle (1985-2002)," Post-Print halshs-00430984, HAL.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ijurrs:v:23:y:1999:i:1:p:147-164. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0309-1317 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.