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The prospects of BRIC countries: Testing weak-form market efficiency

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  • Mobarek, Asma
  • Fiorante, Angelo
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    Abstract

    The main purpose of the study is to determine whether the equity markets of Brazil, Russia, India and China (BRIC) may be considered weak-form efficient in recent years. The major findings using daily data and a bias-free statistical technique with a sample spanning from September 1995 to March 2010 indicate that the results from the last sub-periods, including the subprime crisis, support the belief that these markets may have been approaching a state of being fairly weak-form efficient, which reflects the future prospects of BRIC countries.

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    Bibliographic Info

    Article provided by Elsevier in its journal Research in International Business and Finance.

    Volume (Year): 30 (2014)
    Issue (Month): C ()
    Pages: 217-232

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    Handle: RePEc:eee:riibaf:v:30:y:2014:i:c:p:217-232

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    Web page: http://www.elsevier.com/locate/ribaf

    Related research

    Keywords: BRIC; Weak-form market efficiency; Random walk hypothesis; Emerging markets;

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