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INTERNATIONAL ARTICLES: DO REAL ESTATE STOCKS HEDGE INFLATION IN THE LONG RUN? EVIDENCE FROM THREE EAST ASIAN EMERGING MARKETS

INTERNATIONAL ARTICLES: DO REAL ESTATE STOCKS HEDGE INFLATION IN THE LONG RUN? EVIDENCE FROM... Unsecuritized real estate is often hailed for its inflation-hedging quality. Do real estate stocks exhibit this desirable inflation-hedging characteristic in the long run? Existing studies mainly focus on American real estate investment trusts (U.S. REITs) and British real estate stocks. Extending these studies, this paper explores the long-run, inflation-hedging properties of real estate stocks in Malaysia, the Philippines, and Taiwan. Contrary to results based on data from developed markets, the empirical evidence in this study clearly shows that real estate stocks do not provide a hedge against inflation in the long run in the three East Asian emerging markets in this study. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Real Estate Literature Taylor & Francis

INTERNATIONAL ARTICLES: DO REAL ESTATE STOCKS HEDGE INFLATION IN THE LONG RUN? EVIDENCE FROM THREE EAST ASIAN EMERGING MARKETS

INTERNATIONAL ARTICLES: DO REAL ESTATE STOCKS HEDGE INFLATION IN THE LONG RUN? EVIDENCE FROM THREE EAST ASIAN EMERGING MARKETS

Journal of Real Estate Literature , Volume 19 (2): 28 – Jan 1, 2011

Abstract

Unsecuritized real estate is often hailed for its inflation-hedging quality. Do real estate stocks exhibit this desirable inflation-hedging characteristic in the long run? Existing studies mainly focus on American real estate investment trusts (U.S. REITs) and British real estate stocks. Extending these studies, this paper explores the long-run, inflation-hedging properties of real estate stocks in Malaysia, the Philippines, and Taiwan. Contrary to results based on data from developed markets, the empirical evidence in this study clearly shows that real estate stocks do not provide a hedge against inflation in the long run in the three East Asian emerging markets in this study.

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References (40)

Publisher
Taylor & Francis
Copyright
© 2011 American Real Estate Society
ISSN
1573-8809
DOI
10.1080/10835547.2011.12090296
Publisher site
See Article on Publisher Site

Abstract

Unsecuritized real estate is often hailed for its inflation-hedging quality. Do real estate stocks exhibit this desirable inflation-hedging characteristic in the long run? Existing studies mainly focus on American real estate investment trusts (U.S. REITs) and British real estate stocks. Extending these studies, this paper explores the long-run, inflation-hedging properties of real estate stocks in Malaysia, the Philippines, and Taiwan. Contrary to results based on data from developed markets, the empirical evidence in this study clearly shows that real estate stocks do not provide a hedge against inflation in the long run in the three East Asian emerging markets in this study.

Journal

Journal of Real Estate LiteratureTaylor & Francis

Published: Jan 1, 2011

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