Abstract
In the July-September 1986 issue, Vikalpa published an article by S K Barua and V Raghunathan on “Inefficiency of the Indian Capital Market.”
Based on the way the markets actually function, Ramesh Gupta questions in this article the validity of the assumptions used in arguing that the Indian capital market is inefficient. Far more than inefficiency; the problem with the Indian market is its excessively speculative character, by permitting trading on low margins in carry forward transactions. He also makes suggestions on how to restrict speculation and protect the interest of investors.
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