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

Scott Hendry () and Michael King ()

Finance from University Library of Munich, Germany

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.

Keywords: capital market efficiency; Canada; bond; equity; foreign exchange; derivatives; securitization. (search for similar items in EconPapers)
JEL-codes: F3 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2004-09-07
New Economics Papers: this item is included in nep-fin
Note: Type of Document - pdf; pages: 14. Published in Bank of Canada Review 2004 (Summer):5-17.
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