Evidence from lesser developed countries on the fisher hypothesis: A cointegration analysis

James E. Payne, Bradley T. Ewing

Research output: Contribution to journalArticlepeer-review

17 Scopus citations

Abstract

This paper examines the Fisher hypothesis for a sample of less developed countries. Recognizing the possibility of spurious regression results, tests of the Fisher hypothesis are undertaken utilizing the Johansen-Juselius cointegration procedure. Of the nine countries studied, only Malaysia, Pakistan, and Sri Lanka provide evidence to support the full Fisher effect in which a unit proportional relationship exists between nominal interest rates and inflation.

Original languageEnglish
Pages (from-to)683-687
Number of pages5
JournalApplied Economics Letters
Volume4
Issue number11
DOIs
StatePublished - Nov 1997

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