Is the Brazilian stockmarket efficient?
Sergio Da Silva,
Roberto Meurer () and
Caio Guttler ()
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Roberto Meurer: Department of Economics, Federal University of Santa Catarina
Caio Guttler: Department of Economics, Federal University of Santa Catarina
Economics Bulletin, 2008, vol. 7, issue 1, 1-16
Abstract:
Employing both cointegration analysis and a variety of Granger causality tests, we examine whether the Brazilian stockmarket is efficient in processing new information about public macroeconomic data (semi-strong efficiency). We find the stockmarket to be inefficient, which is in line with most results for other emerging markets.
JEL-codes: E4 G1 (search for similar items in EconPapers)
Date: 2008-01-05
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-07g10016
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