In the paper we consider one of the faster growing Central European emerging markets: the Budapest Stock Exchange (BSE), in order to see whether the market becomes more weak-form efficient over time. The Hungarian exchange is selected because it is the oldest stock exchange operating in the...

Structural change is endemic in the Eastern European economies and the newly emerging Commonwealth of Independent States, yet conventional econometric modeling techniques proceed under the assumption that there is a structurally stable "true" economy to be discovered. This paper explores the...

Structural change is endemic in the Eastern European economies and the newly emerging Commonwealth of Independent States yet conventional econometric modelling techniques proceed under the assumption that there is a structurally stable 'true' economy to be discovered. This paper extends the...