Exchange rate liberalization and market efficiency in the Gambia
|Title:||Exchange rate liberalization and market efficiency in the Gambia||Authors:||Walsh, Brendan M.||Permanent link:||http://hdl.handle.net/10197/1731||Date:||19-Jul-1993||Abstract:||This paper examines the experience of The Gambia following the liberalization of its exchange rate and financial markets in the mid-1980's. It is shown that although nominal interest rates are high, and the real interest rate positive, there is no evidence of systematic excess returns to holders of Gambian treasury bills. The outcome suggests that floating the exchange rate can avert the "peso problem" and work efficiently even in an extremely thin foreign exchange market.||Type of material:||Working Paper||Publisher:||University College Dublin. School of Economics||Keywords:||Exchange rates; Floating; Libearlization; Efficient markets||Subject LCSH:||Interest rates--Gambia
Foreign exchange rates--Gambia
|Language:||en||Status of Item:||Not peer reviewed|
|Appears in Collections:||Architecture, Planning and Environmental Policy Research Collection|
Economics Working Papers & Policy Papers
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