Examining the first stages of market performance: A test for evolving market efficiency

Anna Zalewska-Mitura, Stephen G. Hall

Research output: Contribution to journalArticle

52 Citations (Scopus)


A new test of whether markets evolve through detecting changes in weak-form efficiency is proposed. The test is evaluated through Monte Carlo simulations. Empirical examples are provided for both developed and emerging markets.

Original languageEnglish
Pages (from-to)1-12
Number of pages12
JournalEconomics Letters
Issue number1
Early online date16 Jul 1999
Publication statusPublished - 31 Jul 1999


  • C5
  • Efficiency
  • Emerging stock markets
  • G1
  • Learning
  • Transition economies

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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