Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5085256 | International Review of Financial Analysis | 2009 | 8 Pages |
Abstract
In this paper we assess if the financial market liberalization introduced in the beginning of the 1990s in Greece has changed the degree of market development (efficiency) by studying time-varying global Hurst exponents. Our results suggest that changes in financial market liberalization have important positive implications on the degree of development of stock markets. These results have important policy implications for the development of stock markets around the world.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Daniel O. Cajueiro, Periklis Gogas, Benjamin M. Tabak,