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We propose a new method for (global) Hurst exponent determination based onwavelets. Using this method, we analyze synthetic data with predefined Hurstexponents, fracture surfaces and data from economy. The results are comparedwith those obtained from Fourier spectral analysis. When many samples areavailable, the wavelet and Fourier methods are comparable in accuracy. However,when one or only a few samples are available, the wavelet method outperformsthe Fourier method by a large margin.Comment: 10 pages RevTeX, 13 Postscript figures. Some additional material  compared to previous versio

Determination of the Hurst exponent by use of wavelet transforms