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Testing Efficiency Performance of an Underdeveloped Stock Market

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Author Info
Onour, Ibrahim

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Abstract

Market inefficiency has influence on resource allocation, as price signals tend systematically understate or overstate the effects of information transmitted to the trading parties in the market. In this paper a number of statistical tests employed to assess the weak-form efficiency of Khartoum Stock Exchange (KSE) market. The finding of the paper indicates the inefficiency hypothesis cannot be rejected

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File URL: http://mpra.ub.uni-muenchen.de/15020/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 15020.

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Date of creation: 25 Jul 2007
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Handle: RePEc:pra:mprapa:15020

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Related research
Keywords: efficiency; unit root; volatility;

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Find related papers by JEL classification:
C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - General
G12 - Financial Economics - - General Financial Markets - - - Asset Pricing
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions

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  1. Geert Bekaert & Campbell R. Harvey, 1994. "Time-Varying World Market Integration," NBER Working Papers 4843, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-12-17.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.