Purpose – Many developing countries embarked on a program of financial liberalization in order to maximize the benefits associated with a free market system. The preponderance of the evidence in the financial economics literature is that market-determined interest rates become volatile...

This study adds to the ongoing analysis of the long‐term impact of Asian financial crisis on the stock markets of eight Asian‐Pacific countries. Using current data to capture postcrisis behavior of returns, multivariate cointegration analysis reveals that a cointegrating relationship exists...

Purpose – Many developing countries embarked on a program of financial liberalization in order to maximize the benefits associated with a free market system. The preponderance of the evidence in the financial economics literature is that market‐determined interest rates become volatile...

Surveys African stock markets to find out if they are as efficient as developed markets, and follow the same “turn‐of‐the‐year” pattern as other markets. Compares Ghana, Zimbabwe and Nigeria, and focuses on the period between 1985 and 1995. Describes the environment of each, and...

Outlines previous research on measuring the performance of banks and the factors leading up to the banking crisis in Nigeria in the 1990s. Applies data envelopment analysis to 1991‐1994 data on ten listed Nigerian banks to assess their relative efficiency and tabulates the results for each...