b. Financial market efficiency has been of great interest of many researchers in the past decades. While there is a school of thought stating that financial market is efficient, others claim that it is not (Mobarek et al. 2008). The Efficient Market Hypothesis (EMH) plays a vital part in modern financial literature.Magnusson and Wydick (2002) state that movements in an efficient market need to be characterized by a random walk based on current available information. As such, once a countrys market is found not following a random walk it might be inefficient. Required: Discuss whether it is sufficient to claim that once a countrys market is found not following a random walk it might be inefficient. (25 marks)