Loan-to-Value Ratio as a Macro-Prudential Tool - Hong Kong's Experience and Cross-Country Evidence
By E. Wong, T. Fong, Ka-Fai Li, Henry Choi. 2011
192 citations recorded by the source corpus.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/ec6095085714ce65c6c0a3f7b3884c79aab46396
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- Pau Rabanal
- Deniz Igan
- E. Detragiache
- J. Vandenbussche
- U. Vogel
- Giovanni Dell'Ariccia
- Christopher Crowe
- Edda Zoli
In Finance
- Giovanni Dell'Ariccia
- E. Detragiache
- Pau Rabanal
- Deniz Igan
- J. Vandenbussche
- U. Vogel
- Christopher Crowe
- Edda Zoli
Citations in the corpus
- Do Loan-to-Value and Debt-to-Income Limits Work? Evidence from Korea (2011, background): “Wong et al. (2004) argue that, in Hong Kong SAR, losses in the financial sector in the wake of the Asian crisis were limited because of low LTVs, in line with the finding that LTV at origination is an important determinant of loan default (see, for instance, Avery et al.”
- Leaning Against the Wind: Macroprudential Policy in Asia (2014, background): “, Hong Kong Monetary Authority (2011) on Hong Kong SAR and Igan and Kang (2011), Bruno and Shin (2013) on Korea.”
- The Use and Effectiveness of Macroprudential Policies: New Evidence (2015, unknown): “Rep. Congo Czech Republic Azerbaijan Poland Ethiopia Estonia Bahamas Romania Ghana Finland Bahrain Russian Federation Haiti France Belarus Saudi Arabia Honduras Germany Belize Serbia Kenya Hong Kong Bosnia and Herzegovina South Africa Kyrgyz Republic Iceland Botswana Sri Lanka Lao PDR Ireland Brazil”
- Macroprudential Policies and Housing Prices-A New Database and Empirical Evidence for Central, Eastern, and Southeastern Europe (2012, background): “Craig and Hua (2011) find that curbs on LTVs and stamp duties on property transactions helped slow down property price inflation in Hong Kong S.A.R. Wong et al. (2011) offer evidence of LTV effectiveness in reducing delinquencies after property busts in a few Asian economies (including Hong Kong S.A”
- What do we know about the effects of macroprudential policy (2018, unknown): “Wong et al. (2011) find based on panel regressions with data from 13 economies that maximum LTV ratios are effective in reducing systemic risk stemming from the boom-and-bust cycle of property markets, with the effect on household leverage being more apparent than the effect on property market…”
- Monetary Policy, Financial Conditions, and Financial Stability (2014, unknown): “Looking at recent specific cases, the use of LTV limits combined with other actions in Hong Kong, Korea, and Canada may have mitigated some growth in house prices (Almeida, Campello, and Liu 2006; Igan and Kang 2011; Wong et al. 2011).”
- Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms (2011, background): “…after the first immediate reaction.17 In Hong Kong SAR, prudent lending practices guided by LTV and DTI limits have been credited with pausing the house price boom briefly in 1994 and guarding the system against the fallout from the crash in 1997 (Wong et al., 2004; also see Wong et al., 2011).”