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The feasibility of establishing a se...

Chang, Guangdi.

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The feasibility of establishing a secondary mortgage market to improve the liquidity and availability of housing finance funds in Taiwan.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The feasibility of establishing a secondary mortgage market to improve the liquidity and availability of housing finance funds in Taiwan./
Author:	Chang, Guangdi.
Description:	224 p.
Notes:	Source: Dissertation Abstracts International, Volume: 58-07, Section: A, page: 2775.
Contained By:	Dissertation Abstracts International58-07A.
Subject:	Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9800699
ISBN:	9780591499759

The feasibility of establishing a secondary mortgage market to improve the liquidity and availability of housing finance funds in Taiwan.
Chang, Guangdi.

The feasibility of establishing a secondary mortgage market to improve the liquidity and availability of housing finance funds in Taiwan. - 224 p.

Source: Dissertation Abstracts International, Volume: 58-07, Section: A, page: 2775.

Thesis (Ph.D.)--Texas A&M University, 1997.

The purpose of this research is to investigate the feasibility of establishing a secondary mortgage market in Taiwan to improve the liquidity and availability of housing finance funds. The government of Taiwan estimated that some 820,000 flats that builders had sold to investors stood empty in 1995. The problem of the oversupplied housing has made the three markets of savings deposits, mortgages, and housing to interact simultaneously.

ISBN: 9780591499759Subjects--Topical Terms:

542899
Finance.

The feasibility of establishing a secondary mortgage market to improve the liquidity and availability of housing finance funds in Taiwan.
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100 1 $a Chang, Guangdi. $3 3184652
245 1 4 $a The feasibility of establishing a secondary mortgage market to improve the liquidity and availability of housing finance funds in Taiwan.
300 $a 224 p.
500 $a Source: Dissertation Abstracts International, Volume: 58-07, Section: A, page: 2775.
500 $a Chair: Arthur L. Sullivan.
502 $a Thesis (Ph.D.)--Texas A&M University, 1997.
520 $a The purpose of this research is to investigate the feasibility of establishing a secondary mortgage market in Taiwan to improve the liquidity and availability of housing finance funds. The government of Taiwan estimated that some 820,000 flats that builders had sold to investors stood empty in 1995. The problem of the oversupplied housing has made the three markets of savings deposits, mortgages, and housing to interact simultaneously.
520 $a A three-market, six-equation simulation model is derived from the related literature and Taiwan's socio-economic, financial, and housing context. An independent policy variable (IPV) is designed to measure the impacts of the government holdings of secondary mortgages. The main source of data for this research is quarterly data for the period 1985 to 1994 from the reports published by Taiwan's government and quasi-government agencies.
520 $a A single-equation multiple regression analysis is first used to test the significance of variables. A simulation analysis is then utilized to test the research hypotheses and the effects of the independent policy variable on the three markets. Results of the analysis indicate that the ascending government holdings of secondary mortgages produce more significant results than do the constant and descending government holding cases. The experiment of the ascending government holdings is 2 percent increment of the government holdings of presumed secondary mortgages for every quarter until the maximum of 50 percent is reached and maintained for the rest of the time. The three markets respond to the significance of the ascending government holdings with more passbook savings, more mortgage flow, lower passbook savings rate, and lower mortgage rate.
520 $a The findings of this research have demonstrated that the ascending government holdings will make purchasing houses more affordable to potential homebuyers in the oversupplied housing market and make the housing finance delivery system more competitive and effective. It is concluded that establishing a secondary mortgage market will benefit the participants in the three markets and improve the availability and liquidity of housing finance funds. Therefore, it is recommended that a secondary mortgage market be established and the ascending government holdings be arranged by a fully responsible government agency.
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