Exchange rate liberalization and market efficiency in the Gambia

Files in This Item:
File Description SizeFormat 
wp93_20.pdf336.58 kBAdobe PDFDownload
Title: Exchange rate liberalization and market efficiency in the Gambia
Authors: Walsh, Brendan M.
Permanent link:
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 ratesFloatingLibearlizationEfficient markets
Subject LCSH: Interest rates--Gambia
Foreign exchange rates--Gambia
Foreign exchange--Gambia
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Architecture, Planning and Environmental Policy Research Collection
Economics Working Papers & Policy Papers

Show full item record

Google ScholarTM


This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.