liberalization of emerging financial markets has resulted in the integration of developing countries’ currency markets into the … international capital market. Previous tests of the impact of liberalization on the integration of emerging markets capital markets … into world financial markets are confined to equity markets, ignoring currency markets that arguably are more important in …

This study reports the results of fifteen experimental asset markets designed to investigate the effects of forecasts … on market prices, traders' abilities to assess asset value, and the link between the two. Across the fifteen markets, the … authors investigate alternative forecast-generating processes. In some markets the process produces an unbiased estimate of …

markets since the mid-1990s, this no longer appears to be true. We explore whether this change is driven by global integration …

This study conducts experimental asset markets to examine the effects of circuit breaker rules on market behavior when … others possess private information, causing price to move away from fundamental value. Allocative efficiencies in our markets … are high across all regimes. Circuit breakers perform no useful function in our experimental asset markets. …