This paper investigates the weak form efficiency in the BRIC countries and Turkey with use of autocorrelation analysis, unit root tests, Johansen cointegration and Granger causality test. Monthly data covers the period from July 1997 to December 2013. Our findings indicate the efficiency among...

To what extent can monetary and financial crises and cycles be explained through economic theories? This paper is aimed at highlighting why a reliance on economic theories may be necessary given certain flaws which have been revealed from the recent Financial Crisis. Namely, that economic and...

To what extent can monetary and financial crises and cycles be explained through economic theories? This paper is aimed at highlighting why a reliance on economic theories may be necessary given certain flaws which have been revealed from the recent Financial Crisis. Namely, that economic and...

In an efficient market, share prices reflect all available information. The study of efficient market hypothesis helps to take right decisions related to investments. In this research, weak form efficiency has been tested of Karachi Stock Exchange-KSE covering the period of 2nd November 1991 to...

In an efficient market, share prices reflect all available information. The study of efficient market hypothesis helps to take right decisions related to investments. In this research, weak form efficiency has been tested of Karachi Stock Exchange-KSE covering the period of 2nd November 1991 to...

This paper analyzes stock index reactions to interest rate actions by the FOMC. Unlike previous analyses this study utilizes macro-economic indicators and accounts for pre-decision market expectations. Results indicate significant reaction of the stock market to the actions of the FOMC...