Does Fisher Hypothesis Hold for the East Asian Economies? An Application of Panel Unit Root Tests

Tai-Hu Ling, Venus Liew and Syed Azizi Wafa Syed Khalid Wafa
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Syed Azizi Wafa Syed Khalid Wafa: School of Economics and Business, Universiti Malaysia Sabah, 8899 Kota Kinabalu, Malaysia

Comparative Economic Studies, 2010, vol. 52, issue 2, 273-285

Abstract: This study provides evidence supportive of Fisher hypothesis in East Asian economies using panel unit root tests, which allow for the consideration of cross-country interdependence of real interest rates in the estimation. One important implication of our finding is that monetary policy will be more effective in influencing long-term interest rates and long-run macroeconomic stability in these East Asian economies with regional collaboration.

Date: 2010
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