The relative efficiency of stockmarkets

Sergio Da Silva, Raul Matsushita () and Ricardo Giglio ()
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Raul Matsushita: Department of Statistics, University of Brasilia, Brazil
Ricardo Giglio: Department of Economics, Federal University of Santa Catarina, Brazil

Economics Bulletin, 2008, vol. 7, issue 6, 1-12

Abstract: Financial economists usually assess market efficiency in absolute terms. This is a shortcoming. One way of dealing with the relative efficiency of markets is to resort to the efficiency interpretation provided by algorithmic complexity theory. This paper employs such an approach in order to rank 36 stock exchanges and 37 individual company stocks in terms of their relative efficiency.

JEL-codes: C6 G1 (search for similar items in EconPapers)
Date: 2008-04-21
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Citations: View citations in EconPapers (13)

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