Market Efficiency of Floating Exchange Rate Systems: Some Evidence from Pacific-Asian Countries
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) procedure...
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| Other Authors: | , |
| Format: | article |
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2011
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| Online Access: | http://hdl.handle.net/11073/16672 |
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