EFFICIENCY OF FOREIGN EXCHANGE MARKETS: A DEVELOPING COUNTRY PERSPECTIVE

Preprint, Article OPEN
Guneratne B Wickremasinghe;
(2004)
  • Publisher: Universiti Sains Malaysia
  • Journal: Asian Academy of Management Journal (issn: 1394-2603, eissn: 1985-8280)
  • Publisher copyright policies & self-archiving
  • Subject: HF5001-6182 | Business | Sri Lanka | Efficient market hypothesis, Sri Lanka, foreign exchange market, Japanese yen, Variance decomposition | foreign exchange market | efficient market hypothesis (EMH) | Japanese yen | variance decomposition
    • jel: jel:F31 | jel:G14

This study tests weak and semi-strong form efficiency of the foreign exchange market in Sri Lanka using six bilateral foreign exchange rates during the recent float. Weak-form efficiency is examined using unit root tests while semi-strong form efficiency is tested using... View more
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