Kisaka, Sifunjo E.; Gituro, Wainaina; Ganesh, Pokhariyal; … - In: Economics Bulletin 14 (2008) 2, pp. 1-13
This study examined the Efficiency Market hypothesis in its weak form using run tests, unit root tests and the Ljung-Box Q-statistics. The motivation was to determine whether foreign exchange rate returns follow a random walk. The data covered the period starting January 1994 to June 2007 for...