Publication
Title
Gold as a hedge against inflation : the Vietnamese case
Author
Abstract
We investigate the inflation-hedging properties of gold in Vietnam, reaching formidable records in 1980s-1990s. Consistent with conventional belief, we find that gold provides a complete hedge against both the ex post and ex ante inflation. In addition, its return is positively related to unexpected inflation, although the statistical evidence does not strongly support this. However, in general, we cannot reject that gold does provide a complete hedge against inflation. Furthermore, our findings support the Fisher hypothesis that nominal gold returns move in a one-for-one correspondence with expected inflation. The study has implications for both investors and government.
Language
English
Source (journal)
Procedia Economics and Finance
Publication
2013
ISSN
2212-5671
Volume/pages
5(2013), p. 502-511
ISI
000343803500056
Full text (Publishers DOI)
Full text (open access)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 24.09.2013
Last edited 03.05.2017
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