Deregulation and market efficiency: evidence from the gilt-edged market

James M. Steeley

Research output: Contribution to journalArticlepeer-review

Abstract

The impact of the 1986 deregulation of the British Government bond market on the level of informational efficiency in that market is examined. An analysis of bond price time-series and cross-sectional term-structure fitting suggests that the symptoms of inefficiency are fewer in number, smaller in magnitude and less systematic than those before deregulation.
Original languageEnglish
Pages (from-to)125-143
JournalApplied Financial Economics
Volume2
Issue number3
DOIs
Publication statusPublished - Sep 1992

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