TY  - JOUR 
TI  - Eficiencia semifuerte del mercado internacional del azúcar entre los años 2001 y 2011
PB  - Universidad Nacional de Colombia
PY  - 2014
issn 0121-4772
AB  - This work aims to verify the semi-strong efficient hypothesis described by Fama (1970) for the international sugar market. To achieve this goal, we follow Ferre and Hall (2002) who show that the existence of cointegration is a necessary but not sufficient condition to conclude that the market is not semi-strong efficient. To test this hypothesis we determined the existence of cointegration between the two sets of prices (sugar contract No. 5 in the London Market and contract No. 11 in the New York market). Our results show that there is a long term relationship, but there is not sufficient evidence to reject the null hypothesis of semi-strong efficiency in the international sugar market.
KW  - Economía
KW  - Econometría
KW  - Economics
KW  - Econometrics models
KW  - Eficiencia semifuerte
KW  - Cointegración
KW  - Raíces unitarias
KW  - Azúcar
UR  - http://hdl.handle.net/10906/78305
ER  -