Financial liberalization and stock market efficiency : empirical evidence from an emerging market

@inproceedings{Maghyereh2002FinancialLA,
  title={Financial liberalization and stock market efficiency : empirical evidence from an emerging market},
  author={Aktham Issa Maghyereh},
  year={2002}
}
This paper examines whether the Amman Stock Exchange has become more efficient after liberalization in 1997. Using a battery of econometrics tests, the paper finds that in spite of the theory suggesting the opposite, market liberalization did not improve the efficiency of the Amman Stock Exchange. In fact, all the statistical tests used in this paper indicate that the market continues to be inefficient. 

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