n Investment Analysts Journal - Are financial markets different?

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Extracted from text ... Number 45 - Part 2 H Kenney Are financial markets different? Introduction Financial markets are different from other markets. Or so we have heard nearly as regularly as we have about sexual scandals in the British Royal Family. The argument goes that even if the general case for the non-regulation or deregulation of markets is by now pretty unexceptionable, financial markets have special features which demand at least some state intervention. These characteristics are supposed to reside primarily in the pervasive role of information in the working of financial markets. Information is incomplete and, when it is available, is subject ..


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