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| Sergio Da Silva, Roberto Meurer and Caio Guttler |
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| ''Is the Brazilian stockmarket efficient?'' |
| ( 2008, Vol. 7 No.1 ) |
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| Employing both cointegration analysis and a variety of Granger causality tests, we examine whether the Brazilian stockmarket is efficient in processing new information about public macroeconomic data (semi-strong efficiency). We find the stockmarket to be inefficient, which is in line with most results for other emerging markets. |
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| Keywords: |
JEL:
E4 - Money and Interest Rates: General |
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| Manuscript Received : Oct 22 2007 | | Manuscript Accepted : Jan 05 2008 |
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