التحليل الاقتصادي لكفاءة الاسواق المالية دليل تجريبي لبعض الاسواق العربية

Abstract

Abstract:This study tested the hypothesis of efficient financial markets for someArab markets, through daily data and using the augmented Dickey-Fuller ADF,and Philip Barron PP, where they were testing the hypothesis of random walkfor stock returns indexes to Arab Markets, and then test Contrast RatioVariance Ratio to judge the efficiency of those markets, as it appeared to usthat all financial markets studied inefficient at low level, and then they need tomodify their regulatory frameworks and institutional mechanism and thetransfer of information and transparency.