The article explores how different factors affect the efficiency of global and regional financial markets. By analyzing specific features of financial markets, the study found that financial market uncertainty has a significant impact on market efficiency across different regions. Additionally, factors like financial institutional depth and efficiency positively influence global market efficiency. Surprisingly, growth in financial market and institutional access can actually decrease market efficiency. This study stands out for focusing on market efficiency at a global and regional level, rather than just on individual economies, and for examining the role of global financial market uncertainty in market efficiency.