ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Inflation and Equity Returns

K V S S Narayana Rao L M Bhole This article examines the impact of inflation in India on the rate of return on equity. The real rate of return for each year and all multi-year holding periods between 1933 and 1987 are presented. Whereas equities provide a positive real rate of return over long periods, it is negative in the short run, especially in years of extraordinary inflation.

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