01636cas a2200241 a 4500 AALejournalIMF007379 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843224 1018-5941 BD-DhAAL BD-DhAAL Leigh, Lamin. Stock Market Equilibrium and Macroeconomic Fundamentals / Lamin Leigh. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (41 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the efficiency of the Stock Exchange of Singapore and the relationship between the stock market and the overall economy. Using a wide range of methods for testing market efficiency, the paper establishes that the Singapore stock market is both 'weakly' and 'semi-strongly' efficient in asset-pricing terms but not 'strongly' efficient. Granger causality tests based on the efficiency test results indicate that developments in the stock market appear to be systematically related to the overall economy in Singapore and can thus serve as a leading indicator of its intertemporal behavior. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/015 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/015/001.1997.issue-015-en.xml IMF e-Library