The Spot and Forward Exchange Rates: Some Empirical Evidence of Singapore
This paper studies the foreign exchange market of Singapore. It examines the hypotheses that the spot exchange rate follows a random walk and that the expected value of the future spot rate is the current forward rate. Using various powerful tests that have been developed recently in the econometric literature, we reject the two hypotheses convincingly. In this paper we examine, for the Singapore foreign exchange market, two of these regularities: the spot rate follows a random walk (random walk hypothesis) and the expected value of the future spot rate is the current forward rate (efficient market hypothesis). [ABSTRACT FROM AUTHOR]
Asian Studies | Econometrics | Finance
Taylor and Francis
TSE, Yiu Kuen.
The Spot and Forward Exchange Rates: Some Empirical Evidence of Singapore. (1986). Applied Economics. 18, (3), 319-331. Research Collection School Of Economics.
Available at: http://ink.library.smu.edu.sg/soe_research/24
This document is currently not available here.