Keller, Wolfgang; Shiue, Carol Hua - C.E.P.R. Discussion Papers - 2004
comparatively high levels of market efficiency. This Paper compares the actual efficiency of markets in Europe and China, two … areas of local economic activity, where Europe seems to have been ahead. Second, market efficiency in England was higher …, market efficiency in Europe improved between 1780 and 1830 in a dramatic and sudden fashion in comparison to what came before …