Stock market efficiency of Ukraine, China and Russia in comparison to USA.

Abstract: This thesis test weak form efficiency in the stock markets of Ukraine, Russian, and China and compare the efficiency with USA stock market. We employ Distribution test, Unit root test, Runs test, ARMA test and GARCH test to estimate the efficiency of the above four stock markets. In our study, we find that under unit root test and runs test, all of the four stock markets are not weak-form efficient. On the basis of ACF test, NYSE, PFTS and SSE are not weak-form efficient.