Efficiency of the Taiwan stock market

James J. Kung*, Wing Keung WONG

*Corresponding author for this work

    Research output: Contribution to journalJournal articlepeer-review

    12 Citations (Scopus)


    This study uses two popular technical trading rules to assess whether the gradual liberalization of Taiwan's securities markets has improved the efficiency of its stock market. The results show that the two rules have considerable predictive power for 1983 - 1990, they become less predictive for 1991-1997, and they cannot predict the market for 1998 - 2005. These results indicate that the efficiency of Taiwan stock market has been greatly enhanced by the liberalization measures implemented over the last 20 years.

    Original languageEnglish
    Pages (from-to)389-394
    Number of pages6
    JournalJapanese Economic Review
    Issue number3
    Publication statusPublished - 2009

    Scopus Subject Areas

    • Economics and Econometrics


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