Design/Methodology/Approach : This chapter applies tests associated with the adaptive market hypothesis (AMH) and Johansen cointegration test. AMH acknowledges the views of the efficient market hypothesis and behavioural finance approach. Purpose : Cryptocurrencies are considered a new asset...

This paper provides the first comprehensive analysis of the dynamic relationships between the South African and major world equity markets during May 1988 - May 2000. Using a multivariate cointegration framework and vector error-correction modeling the results indicate that there is a long-run...