TY - JOUR AU - Duarte, Juan Benjamín Duarte AU - Pérez-Iñigo, Juan Manuel Mascareñas PY - 2014/09/22 Y2 - 2024/03/29 TI - Have been informationally efficient stock markets? JF - Apuntes del Cenes JA - Apuntes CENES VL - 33 IS - 57 SE - Economic policy DO - 10.19053/22565779.2906 UR - https://revistas.uptc.edu.co/index.php/cenes/article/view/2906 SP - 117-146 AB - In this paper we study the testing of the stock market efficiency in the last fifteen years, for that we review the papers of ScienceDirect database to characterize the results in percent. We find that 60 % of papers rejects stock market efficiency, 35 % presents evidence of efficiency, and the remaining 5 % verifies a progressive improvement in efficiency due to economic reforms, faster information flow and the launch of new financial products ER -