• Shaista Arshad University of Nottingham Malaysia Campus
  • Syed Aun Raza Rizvi Lahore University of Management Sciences
  • Omair Haroon Lahore University of Management Science
Keywords: Efficiency, Asia, Multifractal, Volatility


We use a three-step process employing multifractal detrended fluctuation analysis to
study time-varying changes in the volatility and efficiency of Asian emerging equity
markets. Our findings suggest that, in emerging markets, long-term stability and
efficiency are linked to market development and liberalization. Our findings further
suggest that financial crises have a negative impact on the efficiency of emerging
markets but only in the short term.


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How to Cite
Arshad, S., Rizvi, S. A. R., & Haroon, O. (2019). UNDERSTANDING ASIAN EMERGING STOCK MARKETS. Buletin Ekonomi Moneter Dan Perbankan, 21, 495-510. https://doi.org/10.21098/bemp.v0i0.983