CGI and Perl don't do anything special as far as what gets displayed on the browser. It's all HTML/DHTML/JavaScript/etc... perl processes whatever you need processed and spits out (via print for expample) the HTML that will be displayed. So you could easily have 'print qq(<A href="http://link">link name</a>);'.
If you're using CGI.pm however, you can user a().. if $q was your cgi object, it would be $q->a({href=>"http://link"},"link name");
-Syn0