China's Stock Market: Inefficiencies and Institutional Implications

Guoping Li

China & World Economy, 2008, vol. 16, issue 6, pages 81-96

Abstract: The dramatic movements of China's stock market in the past two and a half years have renewed debate among academics over the efficiency of China's stock market. The present paper tests the efficiency of China's stock market. The realization of efficient markets requires the effective operation of a complete set of macro and micro mechanisms. However, such mechanisms are not only incomplete in China's stock market, but are also ineffective because of the prevalence of institutional deficiencies. Copyright (c) 2008 The Author Journal compilation (c) 2008 Institute of World Economics and Politics, Chinese Academy of Social Sciences.

Date: 2008

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