The efficiency of futures markets for agricultural commodities is an important issue for participants in the agricultural sector who rely on futures contracts to manage price risk and to assist in planning. Tests of market efficiency in futures markets typically address the relationship between...

Purpose – The purpose of this paper is to model the volatility of treasury bill (T-bill) rates in five Sub-Saharan capital markets to investigate whether or not differences in capital mobility affect volatility. Design/methodology/approach – Primary data was collected from weekly T-bill...