Efficiency of the Taiwan stock market

James J. Kung*, Wing Keung WONG

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

11 Citations (Scopus)

Abstract

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
Volume60
Issue number3
DOIs
Publication statusPublished - 2009

Scopus Subject Areas

  • Economics and Econometrics

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