Informational efficiency of the clandestine and official gold markets in Paris

Georges Gallais-Hamonno, Thi-Hong-Van Hoang and Kim Oosterlinck
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Thi-Hong-Van Hoang: MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier

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Abstract: For gold, moving from clandestine to official trading does not significantly change informational efficiency. Both markets are inefficient suggesting that efficiency is linked more to the type of asset than to the legal status of the market.

Keywords: Efficient market hypothesis; Paris clandestine gold market; World War II (search for similar items in EconPapers)
Date: 2015-01
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Citations: View citations in EconPapers (11)

Published in Economics Letters, 2015, 126, pp.28-30. ⟨10.1016/j.econlet.2014.11.013⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02009842

DOI: 10.1016/j.econlet.2014.11.013

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