The house price issue has become an issue that is enthusiastically discussed, especially when the occurrence of rising toward house price. Thus, the main objective of this study is to identify macroeconomic determinant which influences house price. The macroeconomic determinants that involved in this study are gross domestic product, real interest rate, inflation rate, money supply and household consumption and expenditure. This study also investigates the existence of long-run relationship between house price and the macroeconomic determinants. This study covers a period of seventeen years that starts from year 1998 to the year 2014. There are nine Asia countries that include in this study namely Hong Kong, Japan, South Korea, Singapore, China, Indonesia, Malaysia, Taiwan and Thailand. The results of this study showed that three from five macroeconomic determinants which is significant based on dynamic ordinary least squares estimation and fully modified ordinary least square estimation. The three macroeconomic determinants that are significant are real interest rate, inflation rate and household consumption and expenditure. In addition, panel cointegration test indicates the existence of long-run relationship between house price and macroeconomic determinants.
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28 June 2018
PROCEEDING OF THE 25TH NATIONAL SYMPOSIUM ON MATHEMATICAL SCIENCES (SKSM25): Mathematical Sciences as the Core of Intellectual Excellence
27–29 August 2017
Pahang, Malaysia
Research Article|
June 28 2018
Macroeconomic determinants of selected Asia housing market Available to Purchase
Nursuhada Arshad;
Nursuhada Arshad
a)
1
School of Mathematical Sciences, Universiti Sains Malaysia
, 11800 USM, Pulau Pinang, Malaysia
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Mohd Tahir Ismail;
Mohd Tahir Ismail
b)
2
School of Mathematical Sciences, Universiti Sains Malaysia
, 11800 USM, Pulau Pinang, Malaysia
b)Corresponding author: [email protected]
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Rosmanjawati Abdul Rahman
Rosmanjawati Abdul Rahman
c)
3
School of Mathematical Sciences, Universiti Sains Malaysia
, 11800 USM, Pulau Pinang, Malaysia
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Nursuhada Arshad
1-1,a)
Mohd Tahir Ismail
1-2,b)
Rosmanjawati Abdul Rahman
1-3,c)
1
School of Mathematical Sciences, Universiti Sains Malaysia
, 11800 USM, Pulau Pinang, Malaysia
2
School of Mathematical Sciences, Universiti Sains Malaysia
, 11800 USM, Pulau Pinang, Malaysia
3
School of Mathematical Sciences, Universiti Sains Malaysia
, 11800 USM, Pulau Pinang, Malaysia
AIP Conf. Proc. 1974, 040001 (2018)
Citation
Nursuhada Arshad, Mohd Tahir Ismail, Rosmanjawati Abdul Rahman; Macroeconomic determinants of selected Asia housing market. AIP Conf. Proc. 28 June 2018; 1974 (1): 040001. https://doi.org/10.1063/1.5041675
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