Is the Brazilian stockmarket efficient?

Employing both cointegration analysis and a variety of Granger causality tests, we examine whether the Brazilian stockmarket is efficient in processing new information about public macroeconomic data (semi-strong efficiency). We find the stockmarket to be inefficient, which is in line with most results for other emerging markets.

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Year of publication:	2008-01-05
Authors:	Silva, Sergio Da ; Meurer, Roberto ; Guttler, Caio
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 7.2008, 1, p. 1-16
Publisher:	AccessEcon

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Extent:	application/pdf
Type of publication:	Article
Classification:	G1 - General Financial Markets ; E4 - Money and Interest Rates
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010629820