Forward rates as predictors of future spot rates in small open economies: The case of Kuwait

John Pippenger

Open Economies Review, 1991, vol. 2, issue 2, 183-201

Abstract: The relationship between forward and future spot rates appears to be the same for Kuwait as for larger developed countries. Bid-ask spreads do not appear to affect the relationship. But cointegration, unit root and frequency domain tests suggest that there may be a stronger long-run than short-run relationship. Copyright Kluwer Academic Publishers 1991

Keywords: risk premia; forward rates as predictors of spot; Kuwait; transaction costs; portfolio adjustment (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/BF01886899

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