The prospects of BRIC countries: Testing weak-form market efficiency
Asma Mobarek and
Angelo Fiorante
Research in International Business and Finance, 2014, vol. 30, issue C, 217-232
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.
Keywords: BRIC; Weak-form market efficiency; Random walk hypothesis; Emerging markets (search for similar items in EconPapers)
JEL-codes: G01 G14 G15 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (32)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:30:y:2014:i:c:p:217-232
DOI: 10.1016/j.ribaf.2013.06.004
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