Empirical study on the effectiveness of the weak form of the domestic and international coal prices

The objects of this paper are the six domestic and international coal prices data.By using the autoregressive model,variance ratio test and BDS test to prove whether they are subject to the random walk process,thus judging whether there exists the weak-form efficiency of the coal markets.The conclusion of the study show that the six domestic and international coal prices do not obey the normal and random walk processes,and the weak-form efficiency of the coal markets is untenable in order to look for the internal law of the coal prices and provide some useful insights for the future coal price forecast.