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The Efficiency of Canadian Capital Markets: Some Bank of Canada Research

Author

Listed:
  • Scott Hendry

    (Bank of Canada)

  • Michael R. King

    (Bank of Canada)

Abstract

Capital markets and their related financial instruments make an important contribution to the welfare of Canadians. The Bank of Canada is interested in the efficient functioning of capital markets through each of its responsibilities for monetary policy, the financial system, and funds management. Hendry and King highlight the key findings of Bank research published over the past year that addresses capital market efficiency and summarize lessons that have been learned. The research conducted thus far suggests that Canadian capital markets are efficient for a capital market of Canada's size but are less diverse than the U.S. capital markets, indicating that there is room for improvement in certain areas.

Suggested Citation

  • Scott Hendry & Michael R. King, 2004. "The Efficiency of Canadian Capital Markets: Some Bank of Canada Research," Finance 0409010, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpfi:0409010
    Note: Type of Document - pdf; pages: 14. Published in Bank of Canada Review 2004 (Summer):5-17.
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/fin/papers/0409/0409010.pdf
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    Cited by:

    1. Malika Neifar & Leila Gharbi, 2022. "Weak EMH and Canadian stock markets: evidence from linear and nonlinear unit root tests," Journal of Islamic Accounting and Business Research, Emerald Group Publishing Limited, vol. 14(4), pages 629-651, December.
    2. Dombi, Akos & Grigoriadis, Theocharis & Zhu, Junbing, 2020. "Antiquity and capitalism: The finance-growth perspective," Discussion Papers 2020/9, Free University Berlin, School of Business & Economics.

    More about this item

    Keywords

    capital market efficiency; Canada; bond; equity; foreign exchange; derivatives; securitization.;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance

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