Informational efficiency of parallel and official exchange markets in Libya
Joint Authors
al-Kamil, Husayn
al-Ghafif, Misbah A.
Source
Journal of Economic and Financial Research
Issue
Vol. 8, Issue 1 (30 Jun. 2021), pp.638-657, 20 p.
Publisher
Publication Date
2021-06-30
Country of Publication
Algeria
No. of Pages
20
Main Subjects
Topics
Abstract EN
This paper empirically examines the efficiency of the Libyan parallel and official exchange markets, using a daily dataset ranges from 1 of April2016 to 30 of December 2017.
Through multiple Random Walk tests; namely, unit root tests and variance ratio tests, the paper finds that official exchange rate strongly consistent with the efficient market hypothesis.
Whereas the Libyan parallel market is informational inefficient.
Our findings highlight the role of the Libyan exchange rate regime and the Central Bank of Libya's dominant foreign currencies supply.
American Psychological Association (APA)
al-Kamil, Husayn& al-Ghafif, Misbah A.. 2021. Informational efficiency of parallel and official exchange markets in Libya. Journal of Economic and Financial Research،Vol. 8, no. 1, pp.638-657.
https://search.emarefa.net/detail/BIM-1250324
Modern Language Association (MLA)
al-Kamil, Husayn& al-Ghafif, Misbah A.. Informational efficiency of parallel and official exchange markets in Libya. Journal of Economic and Financial Research Vol. 8, no. 1 (Jun. 2021), pp.638-657.
https://search.emarefa.net/detail/BIM-1250324
American Medical Association (AMA)
al-Kamil, Husayn& al-Ghafif, Misbah A.. Informational efficiency of parallel and official exchange markets in Libya. Journal of Economic and Financial Research. 2021. Vol. 8, no. 1, pp.638-657.
https://search.emarefa.net/detail/BIM-1250324
Data Type
Journal Articles
Language
English
Notes
-
Record ID
BIM-1250324