Patrick J. Wilson, Ralf Zurbruegg
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引用次数: 40
Abstract
This paper presents further evidence that real estate markets around the world are interrelated. Although it is shown that an initial examination may reveal that international real estate markets are not linked, once structural changes are accounted for, it becomes apparent that there are long-running relationships in securitised real estate returns across the world. This paper also shows that monetary changes in the USA – the world's leading economy – can impact on international real estate markets. This has major implications for investment and fund managers alike, who must reconsider the benefits of international real estate diversification. Copyright © 2002 Henry Stewart Publications
结构性突破、多元化和国际房地产市场——一些新的证据
本文提供了进一步的证据，证明世界各地的房地产市场是相互关联的。虽然初步调查可能会发现国际房地产市场并没有联系，但一旦考虑到结构性变化，就会发现世界各地证券化房地产回报之间存在长期关系。本文还表明，美国这个世界领先的经济体的货币变化会对国际房地产市场产生影响。这对投资经理和基金经理都有重大影响，他们必须重新考虑国际房地产多元化的好处。版权所有©2002 Henry Stewart Publications
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