We use a three-step process employing multifractal detrended fluctuation analysis tostudy time-varying changes in the volatility and efficiency of Asian emerging equitymarkets. Our findings suggest that, in emerging markets, long-term stability andefficiency are linked to market development and liberalization. Our findings furthersuggest that financial crises have a negative impact on the efficiency of emergingmarkets but only in the short term.
Arshad, Shaista; Rizvi, Syed Aun Raza; and Haroon, Omair
"UNDERSTANDING ASIAN EMERGING STOCK MARKETS,"
Bulletin of Monetary Economics and Banking: Vol. 21:
0, Article 3.
Available at: https://bulletin.bmeb-bi.org/bmeb/vol21/iss0/3