Includes bibliographical references and index.

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Title Page; Table of Contents; Preface; Part I: Foundations and Emergence of Modern East Asian Housing Systems; 1 Introduction; 1.1 The first comparative study of housing dynamics across East Asian countries; 1.2 Distinguishing features of East Asian economies; 1.3 Organization of the book; 2 Growth Take-Offs and Emerging EA Housing Systems; 2.1 East Asia and the global experience with growth and development; 2.2 East Asian growth policies from an urbanization and housing perspective; 2.3 East Asia has had the highest tempos of urbanization in the world.

2.4 The 50% urban population marker signaled the arrival of the growth transition2.5 Exceptionally powerful land price increases during East Asian growth take-offs; 3 From Vernacular Housing to Organized Housing Systems; 3.1 Housing transformation from a Von Th�unen to a Krugman urban dynamic; 3.2 Stylized facts of organized East Asian urban housing markets; 3.3 Four distinct East Asian housing strategies during the period 1950-1980; 3.4 Patterns of EA government intervention in housing policies; 3.5 Transition from the take-off stage to sustained long-term economic growth.

Part II: Current East Asian Housing Systems4 East Asian Housing Systems Today; 4.1 Basic quantitative East Asian comparisons; 4.2 Volatility of housing output across East Asia; 4.3 The 1997 Asian Financial Crisis triggered important structural reforms; 4.4 Limited impact of the 2008 global financial crisis on East Asian housing; 4.5 Six economies, six different housing system behaviors; 5 Housing Volatility in Japan and Taiwan; 5.1 Japan: housing underinvestment followed by multiple asset bubbles; 5.2 Taiwan: a housing market with little government intervention.

6 Housing Volatility in East Asian City States6.1 Hong Kong: volatility in an open economy with a dual housing system; 6.2 Singapore: where housing is part of macroeconomic policies; Part III: Drivers of East Asian Housing Cycles; 7 East Asian Housing Price Cycles; 7.1 An overview of East Asian housing cycles; 7.2 Country-specific housing price dynamics; 7.3 Institutions and regulations shaping East Asian housing cycles; 8 Drivers of East Asian Housing Price Cycles; 8.1 What makes housing prices cyclical? An analytical overview.

8.2 Quantifying the role of market fundamentals in EA price cycles8.3 Two-way interactions between housing and the macroeconomy; Part IV: The Six Actors of Housing Cycles in China and in Korea; 9 Housing During China's Growth Transition; 9.1 Impact of investment-led growth policies on households; 9.2 The great housing boom during a unique decade; 9.3 Incentives and behavior of the six key players in China's housing boom; 9.4 Channels of interaction between housing and other sectors of the economy; 10 Korea; 10.1 An overview; 10.2 Housing outcomes and housing cycles.

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