'are The Arabic Financial Markets Efficient Under The Weak Form

This study examines the random walk hypothesis or exactly the predictability of stock returns to determine the validity of the weak form of the efficiency of a set of Arabs stock markets. The efficiency of financial markets depends on the speed which the market assimilates new information. In weak form of efficient market, the current price reflects all the information contained in the past prices. The empirical results of this study show the non-normality of the return distributions on the Arab stock indexes selected in this study. They also confirm the non-randomness in their evolution, which means the rejection of the weak form of this set of market.