Katusiime, Lorna; Shamsuddin, Abul; Agbola, Frank W. - In: International Review of Economics & Finance 35 (2015) C, pp. 315-332
This paper empirically investigates market efficiency and trading rule profitability of the Ugandan foreign exchange market for the period January 1994 to June 2012. We test for market efficiency using a battery of variance ratio tests with superior size and power properties. We find that the...