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Assessment of information efficiency of stock markets of the countries BRICK

Vol. 18, Iss. 23, JUNE 2012

Available online: 22 June 2012

Subject Heading: World economy

JEL Classification: 

Fedorova E.A. PhD in Economics, Associate Professor of department "Financial Management", the All-Russian Distance Institute of Finance and Economics
ecolena@mail.ru

Andreeva O.A. Marketing analyst, Ltd "CRIF"
oks255@gmail.com

In the article it is noted that in connection with development of the markets of the capital and expansion of investment activity, the problem of information efficiency of stock markets became urgency. Information efficiency of stock markets of the countries BRICK is investigated. By calculations with criterion of series and Durbin-Watson's statistics the conclusion is drawn that stock markets of Brazil, India and China possess weak degree of information efficiency, the Russian stock market is inefficient.

Keywords: stock market efficiency, BRIC counties, Runs test, Durbin-Watson statistic

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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