The Efficiency of Canadian Capital Markets: Some Bank of Canada Research
نویسندگان
چکیده
* This article is a revised version of a lecture that was delivered to the Canadian Bankers Association in December 2003. apital markets and their related financial instruments make an important contribution to the welfare of Canadians. Canada’s equity, bond, foreign exchange, and derivative markets allow households to channel their savings to the productive investments of firms and governments, creating jobs, generating income and returns, and ultimately, fuelling the growth of the economy. Capital markets also provide the means to transfer and manage financial risks, by allowing financial market participants to create diversified investment portfolios or to hedge business risks.
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