The hypothesis that London gold prices follow a random walk is tested for three prices, those determined at the morning and afternoon fixings and the closing price, using the multiple variance ratio test. For the prices set in the twice-daily fixings, the random walk hypothesis is rejected...

The degree of return predictability is measured for 40 Bulgarian stocks, two Bulgarian stock market indices and 13 other South East European stock market indices using three finite-sample variance ratio tests. Daily data corrected for infrequent trading are used in a fixed-length rolling window...

The martingale hypothesis is tested for two Bulgarian stock price indices and eight stock prices using finite-sample variance ratio tests in a rolling window. The data cover the period beginning in October 2000 and ending in August 2012 and are corrected to remove the effects of infrequent...

The importance of transport corridors for trade and development, including for some of the poorest countries in the world, is widely recognized in this book. A new consensus has also emerged that reducing trade costs and improving access to corridors is not just a matter of building...

A key aspect of the ‘big society’ discourse in England is an enhanced role for voluntary organizations in the delivery of public services. However , Conservative philosophy draws upon the contradictory positions of market liberals favouring the free market and a small state, and those...