Browsing by Author "Elkamel, Hussein"

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    Informational efficiency of parallel and official exchange markets in Libya
    (University of Oum El Bouaghi, 2021-06-30) Elkamel, Hussein; Mosbah, Mossa
    This paper empirically examines the efficiency of the Libyan parallel and official exchange markets, using a daily dataset ranges from 1 of April2016 to 30 of December 2017. Through multiple Random Walk tests ; namely, unit root tests and variance ratio tests, the paper finds that official exchange rate strongly consistent with the efficient market hypothesis. Whereas the Libyan parallel market is informational inefficient. Our findings highlight the role of the Libyan exchange rate regime and the Central Bank of Libya’s dominant foreign currencies supply.