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Financial Stability And Income Growth In Emerging Markets

Author

Listed:
  • Bashir T. Mande

    (Nigeria Deposit Insurance Corporation)

  • Afees A. Salisu

    (University of Ibadan)

  • Adeola N. Jimoh

    (Nigeria Deposit Insurance Corporation)

  • Fola Dosumu

    (Nigeria Deposit Insurance Corporation)

  • Girei H. Adamu

    (Nigeria Deposit Insurance Corporation)

Abstract

In this paper, I empirically study the amplitudes and durations of housing cycles in selected emerging countries. Using the Harding and Pagan (2002) approach, I identify peaks and troughs of house prices for 10 countries. I find that, on average, housing expansions last longer and have greater amplitudes than housing contractions. I, then, estimate a discrete time survival model of housing expansions and contractions. I show that both contractions and expansions have positive duration dependence. I find that inflation and economic growth are useful predictors for the end of periods of expansions and contractions.

Suggested Citation

  • Bashir T. Mande & Afees A. Salisu & Adeola N. Jimoh & Fola Dosumu & Girei H. Adamu, 2020. "Financial Stability And Income Growth In Emerging Markets," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 23(2), pages 201-220, July.
    • Handle: RePEc:idn:journl:v:23:y:2020:i:2c:p:201-220
    DOI: https://doi.org/10.21098/bemp.v23i2.1247
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    Cited by:

    1. Vivien Narcisse WABO NOKAM & Wilfred KEM MUNGONG, 2023. "Financial Stability and Economic Growth in the Cemac Zone: A Panel Cointegration Approach," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 9(1), pages 1-8, 03-2023.

    More about this item

    Keywords

    Financial stability; Emerging markets; Static and Dynamic panels; Per capita income;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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