Capital Liberalization and Various Financial Markets: Evidence from Taiwan

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題名:	Capital Liberalization and Various Financial Markets: Evidence from Taiwan
作者:	Manhwa Wu;Paoyu Huang;Yensen NI
日期:	2017-11-02
上傳時間:	2018-06-14 12:10:42 (UTC+8)
摘要:	Several studies have shown that capital liberalization has varying effects on emerging and developing markets. Meanwhile, other studies have suggested that capital liberalization has different effects on various industries. However, only a few studies have investigated whether capital liberalization has varying effects on different financial markets, including stock, currency, real estate, and bond markets. In this study, we investigate whether various financial markets in a small-scale economy, such as Taiwan, have been affected by capital liberalization in 2003, which is rarely explored comprehensively in the existing literature. Results showed that capital inflows from foreign investment institutions positively affected such markets. Consequently, the share market in Taiwan boomed, domestic currency appreciated, the real estate market soared, and bond prices increased.
關聯:	The Quarterly Review of Economics and Finance 66, p.265-274
DOI:	10.1016/j.qref.2017.03.001
顯示於類別:	[管理科學學系暨研究所] 期刊論文

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