Al-Khazali, Osamah M.; Leduc, Guillaume; Pyun, Chong Soo - In: Global Finance Journal 22 (2011) 2, pp. 154-168
This paper examines the random walk hypothesis (RWH) and the martingale difference hypothesis (MDH) for the Australian dollar and five Asian emerging currencies relative to three benchmark currencies. We use Wright's (2000) non-parametric procedure to test the RWH and Kuan and Lee's (2004)...