This sheet discusses a subject very important it's the relationship between the efficiency of capital markets and the random walk of prices, where they appear this relationship through stock prices, which is expected be responsive to all information reach to investors , and movements of prices become random so long as the information contained independent of one another, which increases the efficiency of capital markets, However, some investors access to private information will leading to a non-random changes in prices as a result of information asymmetry and therefore weaken the efficiency of capital markets, Accordingly came the signal theory to help least partially in the provision and correct the information available to investors and raise the efficiency of capital markets.
The aim of this research paper is to provide an overview on the course of negotiations of Algeria to join the World Trade Organization, since more than a quarter century the negotiations remain moving slowly and know sometimes stopping, which made it difficult way for Algeria to join WTO, and The presence of other obstacles like: unstable business environment, and some policies that do not compatible with WTO agreements Did not give enough guarantees for the negotiation parties, and for the bilateral negotiations with the European Union and the United States it seems that will be difficult to reached.
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