publication . Research . Preprint . 2015

Semi-strong informational efficiency in the Polish foreign exchange market

Luksz Goczek;
Open Access English
  • Published: 01 Jan 2015
  • Publisher: Toruń: Institute of Economic Research (IER)
Abstract
During the financial crisis a notion that the Polish exchange rate is not determined effectively was very dominant, because of a contagion effect of the global financial crisis on the Polish economy. In addition, many foreign exchange market analysts explained developments in the Polish exchange market trough a hypothesis that the Polish zloty exchange rate follows other exchange rates. This contradicts market efficiency as this would lead to profitable arbitrage possibility based on past information on other currency prices and possibly gives a rationale for government intervention. In contrast, a foreign exchange market that is efficient needs no government in...
Subjects
free text keywords: E43, E52, E58, F41, F42, C32, foreign exchange market efficiency, cointegration analysis, foreign exchange market efficiency, cointegration analysis, ddc:330, jel:E43, jel:E52, jel:E58, jel:F41, jel:F42, jel:C32

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publication . Research . Preprint . 2015

Semi-strong informational efficiency in the Polish foreign exchange market

Luksz Goczek;