Document Type

Journal Article

Department/Unit

Department of Economics

Language

English

Abstract

In the aftermath of the Asian financial crisis, a series of reform and liberalization measures have been implemented in Singapore to upgrade its financial markets. This study investigates whether these measures have led to less profitability for those investors who employ technical rules for trading stocks. Our results show that the three trading rules consistently generate higher annual returns for 1988-1996 than those for 1999-2007. Further, they generally perform better than the buy-and-hold (BH) strategy for 1988-1996 but perform no better than the BH strategy for 1999-2007. These findings suggest that the efficiency of the Singapore stock market has been considerably enhanced by the measures implemented after the crisis.

Keywords

Asian financial crisis, profitability, technical analysis, moving average, trading range breakout

Publication Date

2009

Source Publication Title

Journal of Economic Integration

Volume

24

Issue

1

Start Page

133

End Page

150

Publisher

Center for International Economics, Sejong Institution, Sejong University

Peer Reviewed

1

DOI

10.11130/jei.2009.24.1.135

Link to Publisher's Edition

http://dx.doi.org/10.11130/jei.2009.24.1.135

ISSN (print)

1225651X

ISSN (electronic)

19765525

Included in

Economics Commons

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