I've tried using index theory, but there's a non-isolated fixed point at $(0, 0)$ (the remaining fixed points at $(0, 1)$ and $(-1, 0)$ are saddles).
The terms in the equations have even indices and the wrong signs, so using a Liapunov function $V(x, y) = x^n + a y^m$ won't work.
I've tried using the Dulac function $g = 1/xy$ to get that $\nabla \dot (gF) = \frac{1 - y}{x^2} - \frac{1}{y} < 0$ for $y > 1$, which isn't a strong enough result.
A phase portrait shows there can be no periodic orbits. Each trajectory must either approach a fixed point or go off to infinity. For a detailed proof of this, you could examine the fate of solutions starting out in each of the regions into which the isoclines divide the plane.