Artikel
Currency market efficiency revisited: Evidence from Korea
This study aims to test the efficiency of the Korean foreign exchange market and examine its determinants through several well-established methodologies based on the forward rate unbiasedness hypothesis and covered interest rate parity. The empirical findings indicate that the currency market and its related derivatives markets seem to be inefficient during the 2006-2016 period, but have improved considerably after the 2008 global financial crisis. Further, as the main culprits of market inefficiency, we stress the presence of risk premia in the international financial market and the role of central bank intervention.
- Language
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Englisch
- Bibliographic citation
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Journal: International Journal of Financial Studies ; ISSN: 2227-7072 ; Volume: 7 ; Year: 2019 ; Issue: 3 ; Pages: 1-17 ; Basel: MDPI
- Classification
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Wirtschaft
Central Banks and Their Policies
Foreign Exchange
International Financial Markets
- Subject
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central banks
central banks’
policies
covered interest rate parity
foreign exchange market efficiency
forward rate unbiased hypothesis
- Event
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Geistige Schöpfung
- (who)
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Kang, Min-woo
- Event
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Veröffentlichung
- (who)
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MDPI
- (where)
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Basel
- (when)
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2019
- DOI
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doi:10.3390/ijfs7030052
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Kang, Min-woo
- MDPI
Time of origin
- 2019
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