Unveiling Adaptive Market Hypothesis: A Test of Price Bubbles in Nigeria’s Foreign Exchange Market

Ajao, M. G., & Osayuwu, R. (2012). Testing the weak-form of efficient market hypothesis in Nigerian capital market. Management Science Letters, 2(2), 519-528. Ayodele, T. D., Adekoya, B. O., & Oyewale, O. E. (2018). Efficiency of the Nigerian Forex market: An empirical analysis. International Journal of Economics and Financial Issues, 8(3), 9- Black, F. (1976). Studies of stock price volatility changes. Proceedings of the American Statistical Association, Business and Economic Statistics Section, 177-181. Bollerslev, T. (1986). Generalized autoregressive conditional heteroscedasticity. Journal of Econometrics, 31, 307-327. Brooks, C. (2008). Introductory econometrics for finance (2nded). New York: Cambridge University Press Ejem, C.A., & Jombo, C.O. (2011). International finance. Aba: Ker Expert Publisher. Ezirim, C.B. (2005). Finance Dynamics: Principles, techniques, and applications (3rded). Portharcourt: Markowitz Centre for Research and Development. Fama, E. F. (1970). Efficient capital markets: A review of theory and empirical work. The Journal of Finance, 25(2), 383-417. Ibrahim, J., Long, Y., Ghani, H.A., & Salleh, S.I.M. (2011). Weak form efficiency of foreign exchange market in the Organisation for Economic Cooperation and Development Countries: Unit root test. International Journal of Business and Management, 6(6), 53- 65 Kindleberger, C. P., & Aliber, R. Z. (2011). Manias, Panics, and Crashes: A History of Financial Crises. Palgrave Macmillan. Lim, K. P., & Brooks, R. D. (2011). The evolution of stock market efficiency over time: A survey of the empirical literature. Journal of Economic Surveys, 25(1), 69-108. Lo, A. W. (2004). The adaptive markets hypothesis: Market efficiency from an evolutionary perspective. The Journal of Portfolio Management, 30(5), 15-29. Mandelbrot, B. B. (1963). The variation of certain speculative prices. The Journal of Business, 36(4), 394-419. Nelson, D. B. (1991). Conditional heteroskedasticity in asset returns: A new approach. Econometrica, 59(2), 347-370. Nwude, C. E., & Eyisi, A. S. (2014). The Nigerian foreign exchange market: Efficiency and volatility. Research Journal of Finance and Accounting, 5(9), 115-126. Olowe, R. A. (2011). The impact of the global financial crisis on the Nigerian capital market. International Journal of Business and Social Science, 2(17), 198-206. Salvatore, D. (2004). International Economics (8th ed) USA: John Wiley & Sons Shiller, R. J. (2003). From efficient markets theory to behavioral finance. Journal of Economic Perspectives, 17(1), 83-104.