The Impact of Regulatory Change and Market Shocks on the Weak-Form Efficiency of the Kuwait Stock Exchange

Sadeq Abdelrahim and Phil Holmes
Additional contact information
Sadeq Abdelrahim: Central Bank of Kuwait and postgraduate student in the Department of Economics, University of Durham
Phil Holmes: Department of Economics, University of Durham, UK

Ekonomia, 1998, vol. 2, issue 2, 117-134

Abstract: This paper investigates the efficiency of the Kuwait Stock Exchange (KSE) in the periods prior to and after the invasion of Kuwait by Iraq in 1990. The invasion provided a major shock to the KSE and led to the market closing for a period of two years. In spite of a number of regulatory changes designed to improve confidence in the KSE since the recommencement of trading in 1992, the market appears to continue to be characterized by inefficiency. Such inefficiency is evident even when allowance is made for the effects of thin trading. However, this inefficiency is evidence only comes to light when consideration is given to possible non-linear behaviour in the returns generating process.

JEL-codes: G10 (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekn:ekonom:v:2:y:1998:i:2:p:117-134

Access Statistics for this article

More articles in Ekonomia from Cyprus Economic Society and University of Cyprus Contact information at EDIRC.
Bibliographic data for series maintained by Managing Editor ( this e-mail address is bad, please contact ).