The few existing studies on equity price dynamics and market efficiency for Latin American emerging equity markets show conflicting results. This study uses multiple variance-ratio and auto-regressive fractionally integrated moving-average tests and new data (U.S. dollar-based national equity...

The conventional gravity model is revised for a single commodity and applied to meat markets to determine factors affecting trade flows of meat. This study demonstrates that the gravity model for a single agricultural commodity can be parameterized more effectively by using time series and...

Current literature reveals that tests of the random walk hypothesis (RWH) on financial prices have focused on major world financial markets. This paper presents results of variance ratio tests of random walks in foreign exchange rates of six African countries. For most currencies analyzed, the...

ABSTRACT Studies of how exchange rate volatility affects aggregate trade flows implicitly assume a uniform response across individual sectors. This is highly unlikely given that the responsiveness of trade to exchange rate fluctuations could depend on the biological, marketing, and economic...