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

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  • Tai-Hu Ling

    (Labuan School of International Business and Finance, Universiti Malaysia Sabah, Jalan Sungai Pagar, Labuan 87000, Malaysia)

  • Venus Khim-Sen Liew

    (Department of Economics, Faculty of Economics and Business, Universiti Malaysia Sarawak, 94300 Kota Samarahan, Sarawak, Malaysia)

  • Syed Azizi Wafa Syed Khalid Wafa

    (School of Economics and Business, Universiti Malaysia Sabah, 8899 Kota Kinabalu, Malaysia)

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.

Suggested Citation

  • Tai-Hu Ling & Venus Khim-Sen Liew & Syed Azizi Wafa Syed Khalid Wafa, 2010. "Does Fisher Hypothesis Hold for the East Asian Economies? An Application of Panel Unit Root Tests," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 52(2), pages 273-285, June.
    • Handle: RePEc:pal:compes:v:52:y:2010:i:2:p:273-285
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    Cited by:

    1. Chong, Fen Nee & Liew, Venus Khim-Sen & Suhaimi, Rosita, 2016. "Does Research and Development Expenditure Co-integrate with Gross National Income of ASEAN Countries?," MPRA Paper 107981, University Library of Munich, Germany.
    2. Rodionova, Alena (Родионова, Алена), 2014. "Formation of long-term rate of return: Fisher effect in the markets of public debt of developing countries [Формирование Долгосрочного Уровня Доходности: Эффект Фишера На Рынках Государственного До," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 116-139.
    3. Noor Zainab.Tunggal & Shariff Umar Shariff Abd. Kadir & Venus-Khim Sen Liew, 2018. "Panel Analysis of Monetary Model of ASEAN-5 Exchange Rates," International Business Research, Canadian Center of Science and Education, vol. 11(11), pages 1-7, November.

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