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Do Capital Inflows Matter to Asset Prices? The Case of Korea

In: Volatile Capital Flows in Korea

Author

Listed:
  • Soyoung Kim
  • Doo Yong Yang

Abstract

Do capital inflows influence domestic asset prices? This question is relevant in emerging market economies, which tend to experience a series of boom-bust cycles related to capital flows. The boom-bust cycle begins with a boom stage of credit expansion, investment increases, asset prices rises, and capital inflow surges, and ends up with a bust stage when all of those reverse. As a result, simultaneous occurrences of huge capital inflows and asset price appreciation in emerging countries have often raised concerns about the possibility of another regional economic crisis.

Suggested Citation

  • Soyoung Kim & Doo Yong Yang, 2014. "Do Capital Inflows Matter to Asset Prices? The Case of Korea," Palgrave Macmillan Books, in: Kyuil Chung & Soyoung Kim & Hail Park & Changho Choi & Hyun Song Shin (ed.), Volatile Capital Flows in Korea, chapter 3, pages 51-82, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-36876-8_3
    DOI: 10.1057/9781137368768_3
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