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Sergio Da Silva, Roberto Meurer and Caio Guttler
 
''Is the Brazilian stockmarket efficient?''
( 2008, Vol. 7 No.1 )
 
 
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.
 
 
Keywords:
JEL: G1 - General Financial Markets: General (includes Measurement and Data)
E4 - Money and Interest Rates: General
 
Manuscript Received : Oct 22 2007 Manuscript Accepted : Jan 05 2008

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