House Price Determinants in Selected Countries of the Former Soviet Union

WPIEA2010104 Image
Price:  $18.00

Author/Editor: Vahram Stepanyan, Tigran Poghosyan, Aidyn Bibolov
Release Date: © April, 2010
ISBN : 978-1-45520-063-4
Stock #: WPIEA2010104
Stock Status: On back-order

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This paper analyses the recent boom-bust cycle in the housing markets of selected Former Soviet Union (FSU) countries. The analysis is based on a newly constructed database on house prices in the FSU countries. Our estimations suggest that house price developments can largely be explained by the dynamics of fundamentals, such as GDP, remittances, and external financing. Overall, we find that deviations of house prices from their fundamentals have not been pronounced, suggesting that house price bubbles have not been formed in the FSU countries.


Business cycles , Economic development

More publications in this series: Working Papers

More publications by: Vahram Stepanyan ; Tigran Poghosyan ; Aidyn Bibolov