IDEAS home Printed from https://ideas.repec.org/a/eee/ecanpo/v37y2007i1p15-40.html
   My bibliography  Save this article

Market External Events as Triggers of the 1991-1997 Residential Construction Peak in Taiwan

Author

Listed:
  • Hsieh, Hui-Yuan

    (Department of Business Administration, National Pingtung University of Science and Technology, Pingtung Taiwan)

  • Forster, John

    (School of Business and Management, The American University of Sharjah, Sharjah United Arab Emirates AND Department of Accounting, Finance and Economics, Griffith University, Brisbane Australia)

Abstract

Between 1991 and 1993 the construction of residential units in Taiwan rose to triple normal levels. Identifying the surge as an event as opposed to a fluctuation in the production time-series, we ask what triggered this surge in physical production. Price mechanisms within the Taiwanese housing market offered no solution, and only limited help in deciding which of many market-external events affected production. This forced an exhaustive examination of large numbers of market-external events as potential triggers and intensifiers of the production surge. This approach led to different conclusions from all earlier analyses. A complex sequence of triggers and their interactions that intensified the surge is presented. This interpretation stands opposed to previous mono-causal explanations. This new interpretation – multiple unique events interacting to trigger and intensify another unique event – indicates limits to econometric methods in empirical economics. Consequently specific attention is paid to the development of a qualitative methodology.

Suggested Citation

  • Hsieh, Hui-Yuan & Forster, John, 2007. "Market External Events as Triggers of the 1991-1997 Residential Construction Peak in Taiwan," Economic Analysis and Policy, Elsevier, vol. 37(1), pages 15-40, March.
    • Handle: RePEc:eee:ecanpo:v:37:y:2007:i:1:p:15-40
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0313592607500020
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Housing; Residential;

    JEL classification:

    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

    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:eee:ecanpo:v:37:y:2007:i:1:p:15-40. 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: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .

    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.