This paper investigates the generalized Fisher hypothesis for nine equity markets in the Asian countries. It states that the real rates of return on common stocks and the expected inflation rate are independent and that nominal stock returns vary in a one-to-one correspondence with the expected...

Purpose – This paper aims to distill from both the Asian “miracle” and the “meltdown” since the Asian crisis, a generic East Asian business model which is changing in the context of globalisation, information communication technology, knowledge-based economy, deregulation and emerging...