The push for financial regulatory reform has highlighted an important debate surrounding the Efficient Markets Hypothesis, the idea that market prices are rationally determined and fully reflect all available information. If true, the EMH implies that regulation is largely unnecessary because markets allocate resources and risks efficiently via the “invisible hand”.
推動(dòng)金融監(jiān)管改革的努力突顯出圍繞有效市場(chǎng)假說(shuō)展開的重要爭(zhēng)論，該假說(shuō)認(rèn)為，市場(chǎng)價(jià)格是理性決定的結(jié)果，并充分反映了所有可獲得的信息。如果該假說(shuō)成立，就意味著監(jiān)管在很大程度上是不必要的，因?yàn)槭袌?chǎng)會(huì)通過“看不見的手”，對(duì)資源和風(fēng)險(xiǎn)進(jìn)行有效配置。
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