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The efficiency of Japanese stock markets 1924-43 changed with contingent events, institutions & gov't intervention, according to Hiryama & Noda using a capitalization-weighted price index. A war-related risk premium reduced market efficiency in the 1930s. OA in the Asia-Pacific EcHR
https://doi.org/10.1111/aehr.12297
@economics @demography @socialscience @sociology @politicalscience @geography @econhist @devecon @sts @SocArXivBot #history #histodons #Japan #WWII #bizhis #stocks #MarketVolatility #finance

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