Regional House Prices and the Ripple Effect in Malaysia
AbstractThis paper applies univariate and panel Lagrange multiplier (LM) unit root tests with one and two structural breaks to the ratio of the regional to national house price to examine the ripple effect for five different housing price indices (aggregate housing, detached housing, semi-detached housing, terrace housing and high-rise housing) across 14 regional locations in Malaysia. Segmentation is restricted to a small group of states across most housing types for which there is no long-run relationship with the Malaysian average. When all housing types are taken together, evidence of a ripple effect is generally found from the most developed states to the less developed states of Malaysia. While overall rates of conversion to the long-run equilibrium are consistent with a low level of persistence, there is some evidence of regional clusters based on similar speeds of adjustment in different parts of the country.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Urban Studies Journal Limited in its journal Urban Studies.
Volume (Year): 50 (2013)
Issue (Month): 5 (April)
Contact details of provider:
Web page: http://www.gla.ac.uk/departments/urbanstudiesjournal
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Christophe Andre & Luis A. Gil-Alana & Rangan Gupta, 2013. "Comovement in Euro Area Housing Prices: A Fractional Cointegration Approach," Working Papers 201359, University of Pretoria, Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (SAGE Publications).
If references are entirely missing, you can add them using this form.