Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/188039
Authors: 
Mishra, P. K.
Year of Publication: 
2012
Citation: 
[Journal:] Pakistan Journal of Commerce and Social Sciences (PJCSS) [ISSN:] 2309-8619 [Volume:] 6 [Year:] 2012 [Issue:] 1 [Pages:] 27-34
Abstract: 
In recent years, especially in the aftermath of the global financial meltdown, the performance of South Asia capital markets has attracted the attention of the researchers and investors across the globe. The resilient shown provides the impetus to examine the efficient market hypothesis in these markets. It is with this backdrop, this paper is an attempt to test the weak form efficiency of select South Asian capital markets (India, Sri Lanka, Pakistan, Bangladesh, and Mauritius) over the sample period spanning from January 2005 to October 2010. The application of unit root test provides the evidence that these markets are not weak form efficient which has both positive and negative implications. On the one hand, such inefficiency disturbs the allocation of national resources for development projects, and on the other hand, provides incentives for creation of innovative financial products thereby making the markets move towards efficiency in the long run.
Subjects: 
South Asia Capital markets
Efficient Market Hypothesis
Unit Root Test
JEL: 
C22
G14
G15
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/4.0/
Document Type: 
Article
Social Media Mentions:

Files in This Item:
File
Size
74.62 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.