A number of managers have recently expressed their desire to have the window shut before the start of the Premier League season in order to give on-field matters their full attention.
However, Wenger believes that such a scenario would create more problems given the different deadlines in other countries, while he also acknowledged that managers have no power to change the rules when it comes to the Premier League.
"If only England closes it, you can still have the same instability, because Spain starts in September and will keep the transfer window open," Wenger told PA.
"In England, as much as the managers have quite a good power inside the club, little is their power on a decision level in the Premier League - they have nothing to say at all. I cannot see how that can change."
Wenger's transfer policy has come under intense scrutiny this summer after he missed out on a number of high-profile targets and brought in just two free transfers so far.