NOMİNAL FAİZ ORANI İLE ENFLASYON İLİŞKİSİ: D-8 ÜLKELERİ İÇİN FISHER ETKİSİNİN VARLIĞININ ARAŞTIRILMASI
RELATIONSHIP BETWEEN NOMINAL INTEREST RATE AND INFLATION: INVESTIGATION OF THE EXISTENCE OF FISHER EFFECT FOR D-8 COUNTRIES

Summary/Abstract: The aim of this study is to examine the relationship of the nominal interest rate and inflation in the context of the Fisher effect for the D-8 country (Turkey, Egypt, Iran, Malaysia, Pakistan, Indonesia, Bangladesh, Nigeria). For this purpose, using the second generation panel data analysis methods of the countries using the quarterly deposit interest rates and consumer price indices data of the 2003Q1-2019Q4 period. CADF-CIPS unit root test, Westerlund and Edgerton (2007) LM Bootstrap cointegration test and CCE test were used to estimate the coefficients. In the findings, the Fisher effect was not valid in Nigeria and Malaysia; Weak Fisher effect is valid in Iran; Indonesia, Egypt, Bangladesh, Pakistan and Turkey is concluded that the effect applies to full-Fisher.

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