Koichi Mera & Bertrand (Homer Hoyt Institute, USA) Renaud 
Asia”s Financial Crisis and the Role of Real Estate 

This book by a distinguished academic and a professional economist from the World Bank clearly demonstrates the significant role played by the real estate sector in inducing the Asian crisis; the linkage of the real estate sector to the general economy; the causes of real estate booms and subsequent busts; and the economic costs of real estate price volatility. The book also includes suggestions for moderating such volatility in the future.