Commodity Market Efficiency - New Evidence From the Russia-Ukraine War

Olayemi O Adu and Blessing O Idakwoji ()
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Blessing O Idakwoji: Department of Accounting, University of Ibadan, Nigeria

Energy RESEARCH LETTERS, 2024, vol. 5, issue 2, 1-6

Abstract: We re-evaluate the efficiency of selected commodity markets during the Russia-Ukraine crisis using the asymptotic normal variance ratio test. We find that there is a substantial difference in the commodity prices before and after the war’s commencement. We also show that the markets are weak-form inefficient before and after the invasion except for gasoline and oats which became efficient during the war. We highlight the investment implications of the findings.

Keywords: Commodity markets; Market efficiency; Russia-Ukraine crisis; Variance ratio test (search for similar items in EconPapers)
JEL-codes: C14 G14 G15 H56 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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