Tuvalu

iso2Code: TV

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

value: Upper middle income

iso2code: XI

value: IDA

capitalCity: Funafuti

country_code: TUV

country_name: Tuvalu

value: S&P Global Equity Indices (annual % change)

value: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.


name: S&P Global Equity Indices (annual % change)

value: World Development Indicators

sourceNone: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.

value: Financial Sector

Tanzania

iso2Code: TZ

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XN

value: Lower middle income

capitalCity: Dodoma

country_code: TZA

country_name: Tanzania

value: CC BY-4.0

value:
The percentage change in stock market prices in U.S. dollars for developing economies is from Standard & Poor's Global Equity Indices (S&P IFCI) and Standard & Poor's Frontier Broad Market Index (BMI). The percentage change for France, Germany, Japan, the United Kingdom, and the United States is from local stock market prices.

The indicator is an important measure of overall performance. Regulatory and institutional factors that can affect investor confidence, such as entry and exit restrictions, the existence of a securities and exchange commission, and the quality of laws to protect investors, may influence the functioning of stock markets.

Because markets included in Standard & Poor's emerging markets category vary widely in level of development, it is best to look at the entire category to identify the most significant market trends. And it is useful to remember that stock market trends may be distorted by currency conversions, especially when a currency has registered a significant devaluation.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information. That lowers transaction costs, which in turn improves resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

The S&P Global Equity Index Series covers approximately 11,000 securities from over 80 countries. It includes the S&P Global Broad Market Index (BMI), S&P Global 1200, S&P/IFCI, and S&P Frontier BMI. All indices are float-adjusted, market capitalization-weighted indices and include security classifications for country, size, style and industry.

The S&P Global Broad Market Index (BMI) is a global index suite with a transparent, modular structure that has been fully float adjusted since 1989. This index series employs a transparent and consistent methodology across all countries and includes approximately 10,000 stocks from 26 developed and 20 emerging markets.

The S&P Global 1200, a real-time, tradable global equity index covers approximately 70 percent of the world's market capitalization, giving a detail view of the world economy. It is a composite of seven headline regional indices: S&P 500®, S&P Europe 350, S&P TOPIX 150, S&P/TSX 60, S&P/ASX All Australian 50, S&P Asia 50 and S&P Latin America 40.

value: Annual

value: Ratios of end-of-period levels in U.S. dollars over previous end-of-period values in U.S. dollars times 100. These indexes are widely used benchmarks for international portfolio management.

value: Financial Sector: Capital markets

value: Standard & Poor's, Global Stock Markets Factbook and supplemental S&P data.

schema: wb


Uganda

iso2Code: UG

iso2code: XM

value: Low income

capitalCity: Kampala

country_code: UGA

country_name: Uganda


Ukraine

iso2Code: UA

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

iso2code: XF

value: IBRD

capitalCity: Kiev

country_code: UKR

country_name: Ukraine


Upper middle income

iso2Code: XT

value: Aggregates

country_code: UMC

country_name: Upper middle income

value: S&P Global Equity Indices (annual % change)

value: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.


value: World Development Indicators

value: Financial Sector

Uruguay

iso2Code: UY

iso2code: ZJ

value: Latin America & Caribbean

iso2code: XD

value: High income

capitalCity: Montevideo

country_code: URY

country_name: Uruguay


United States

iso2Code: US

iso2code: XU

value: North America

iso2code: XX

value: Not classified

capitalCity: Washington D.C.

country_code: USA

country_name: United States

value: CC BY-4.0

value:
The percentage change in stock market prices in U.S. dollars for developing economies is from Standard & Poor's Global Equity Indices (S&P IFCI) and Standard & Poor's Frontier Broad Market Index (BMI). The percentage change for France, Germany, Japan, the United Kingdom, and the United States is from local stock market prices.

The indicator is an important measure of overall performance. Regulatory and institutional factors that can affect investor confidence, such as entry and exit restrictions, the existence of a securities and exchange commission, and the quality of laws to protect investors, may influence the functioning of stock markets.

Because markets included in Standard & Poor's emerging markets category vary widely in level of development, it is best to look at the entire category to identify the most significant market trends. And it is useful to remember that stock market trends may be distorted by currency conversions, especially when a currency has registered a significant devaluation.


Uzbekistan

iso2Code: UZ

value: Lower middle income

iso2code: XH

value: Blend

capitalCity: Tashkent

country_code: UZB

country_name: Uzbekistan

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information. That lowers transaction costs, which in turn improves resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

The S&P Global Equity Index Series covers approximately 11,000 securities from over 80 countries. It includes the S&P Global Broad Market Index (BMI), S&P Global 1200, S&P/IFCI, and S&P Frontier BMI. All indices are float-adjusted, market capitalization-weighted indices and include security classifications for country, size, style and industry.

The S&P Global Broad Market Index (BMI) is a global index suite with a transparent, modular structure that has been fully float adjusted since 1989. This index series employs a transparent and consistent methodology across all countries and includes approximately 10,000 stocks from 26 developed and 20 emerging markets.

The S&P Global 1200, a real-time, tradable global equity index covers approximately 70 percent of the world's market capitalization, giving a detail view of the world economy. It is a composite of seven headline regional indices: S&P 500®, S&P Europe 350, S&P TOPIX 150, S&P/TSX 60, S&P/ASX All Australian 50, S&P Asia 50 and S&P Latin America 40.

value: Annual

value: Ratios of end-of-period levels in U.S. dollars over previous end-of-period values in U.S. dollars times 100. These indexes are widely used benchmarks for international portfolio management.

value: Financial Sector: Capital markets


St. Vincent and the Grenadines

iso2Code: VC

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

value: Upper middle income

capitalCity: Kingstown

country_code: VCT

country_name: St. Vincent and the Grenadines

value: Standard & Poor's, Global Stock Markets Factbook and supplemental S&P data.


value: World Development Indicators

Venezuela, RB

iso2Code: VE

iso2code: XY

value: IBRD

capitalCity: Caracas

country_code: VEN

country_name: Venezuela, RB

value: S&P Global Equity Indices (annual % change)

value: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.


value: Financial Sector

British Virgin Islands

iso2Code: VG

value: Latin America & Caribbean

value: High income

capitalCity: Road Town

country_code: VGB

country_name: British Virgin Islands


Virgin Islands (U.S.)

iso2Code: VI

value: Not classified

capitalCity: Charlotte Amalie

country_code: VIR

country_name: Virgin Islands (U.S.)

value: CC BY-4.0

value:
The percentage change in stock market prices in U.S. dollars for developing economies is from Standard & Poor's Global Equity Indices (S&P IFCI) and Standard & Poor's Frontier Broad Market Index (BMI). The percentage change for France, Germany, Japan, the United Kingdom, and the United States is from local stock market prices.

The indicator is an important measure of overall performance. Regulatory and institutional factors that can affect investor confidence, such as entry and exit restrictions, the existence of a securities and exchange commission, and the quality of laws to protect investors, may influence the functioning of stock markets.

Because markets included in Standard & Poor's emerging markets category vary widely in level of development, it is best to look at the entire category to identify the most significant market trends. And it is useful to remember that stock market trends may be distorted by currency conversions, especially when a currency has registered a significant devaluation.


Viet Nam

iso2Code: VN

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

iso2code: XN

value: Lower middle income

capitalCity: Hanoi

country_code: VNM

country_name: Vietnam

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information. That lowers transaction costs, which in turn improves resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

The S&P Global Equity Index Series covers approximately 11,000 securities from over 80 countries. It includes the S&P Global Broad Market Index (BMI), S&P Global 1200, S&P/IFCI, and S&P Frontier BMI. All indices are float-adjusted, market capitalization-weighted indices and include security classifications for country, size, style and industry.

The S&P Global Broad Market Index (BMI) is a global index suite with a transparent, modular structure that has been fully float adjusted since 1989. This index series employs a transparent and consistent methodology across all countries and includes approximately 10,000 stocks from 26 developed and 20 emerging markets.

The S&P Global 1200, a real-time, tradable global equity index covers approximately 70 percent of the world's market capitalization, giving a detail view of the world economy. It is a composite of seven headline regional indices: S&P 500®, S&P Europe 350, S&P TOPIX 150, S&P/TSX 60, S&P/ASX All Australian 50, S&P Asia 50 and S&P Latin America 40.


Vanuatu

iso2Code: VU

iso2code: XI

value: IDA

capitalCity: Port-Vila

country_code: VUT

country_name: Vanuatu

value: Annual

value: Ratios of end-of-period levels in U.S. dollars over previous end-of-period values in U.S. dollars times 100. These indexes are widely used benchmarks for international portfolio management.

value: Financial Sector: Capital markets


value: World Development Indicators

World

value: Aggregates

country_code: WLD

country_name: World

value: Standard & Poor's, Global Stock Markets Factbook and supplemental S&P data.


value: Financial Sector

Samoa

iso2Code: WS

capitalCity: Apia

country_code: WSM

country_name: Samoa

value: S&P Global Equity Indices (annual % change)

value: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.


Kosovo

iso2Code: XK

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

iso2code: XT

value: Upper middle income

capitalCity: Pristina

country_code: XKX

country_name: Kosovo


Yemen, Rep.

iso2Code: YE

iso2code: ZQ

value: Middle East & North Africa

iso2code: XQ

value: Middle East & North Africa (excluding high income)

iso2code: XM

value: Low income

capitalCity: Sana'a

country_code: YEM

country_name: Yemen, Rep.

value: CC BY-4.0

value:
The percentage change in stock market prices in U.S. dollars for developing economies is from Standard & Poor's Global Equity Indices (S&P IFCI) and Standard & Poor's Frontier Broad Market Index (BMI). The percentage change for France, Germany, Japan, the United Kingdom, and the United States is from local stock market prices.

The indicator is an important measure of overall performance. Regulatory and institutional factors that can affect investor confidence, such as entry and exit restrictions, the existence of a securities and exchange commission, and the quality of laws to protect investors, may influence the functioning of stock markets.

Because markets included in Standard & Poor's emerging markets category vary widely in level of development, it is best to look at the entire category to identify the most significant market trends. And it is useful to remember that stock market trends may be distorted by currency conversions, especially when a currency has registered a significant devaluation.


South Africa

iso2Code: ZA

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XF

value: IBRD

capitalCity: Pretoria

country_code: ZAF

country_name: South Africa

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information. That lowers transaction costs, which in turn improves resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

The S&P Global Equity Index Series covers approximately 11,000 securities from over 80 countries. It includes the S&P Global Broad Market Index (BMI), S&P Global 1200, S&P/IFCI, and S&P Frontier BMI. All indices are float-adjusted, market capitalization-weighted indices and include security classifications for country, size, style and industry.

The S&P Global Broad Market Index (BMI) is a global index suite with a transparent, modular structure that has been fully float adjusted since 1989. This index series employs a transparent and consistent methodology across all countries and includes approximately 10,000 stocks from 26 developed and 20 emerging markets.

The S&P Global 1200, a real-time, tradable global equity index covers approximately 70 percent of the world's market capitalization, giving a detail view of the world economy. It is a composite of seven headline regional indices: S&P 500®, S&P Europe 350, S&P TOPIX 150, S&P/TSX 60, S&P/ASX All Australian 50, S&P Asia 50 and S&P Latin America 40.

value: Annual


value: World Development Indicators

Zambia

iso2Code: ZM

value: Lower middle income

value: IDA

capitalCity: Lusaka

country_code: ZMB

country_name: Zambia

value: Ratios of end-of-period levels in U.S. dollars over previous end-of-period values in U.S. dollars times 100. These indexes are widely used benchmarks for international portfolio management.

value: Financial Sector: Capital markets

value: Standard & Poor's, Global Stock Markets Factbook and supplemental S&P data.


value: Financial Sector

Zimbabwe

iso2Code: ZW

iso2code: XH

value: Blend

capitalCity: Harare

country_code: ZWE

country_name: Zimbabwe

value: S&P Global Equity Indices (annual % change)

value: S&P Global Equity Indices measure the U.S. dollar price change in the stock markets covered by the S&P/IFCI and S&P/Frontier BMI country indices.


name: Market capitalization of listed domestic companies (current US$)

sourceNone: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

Aruba

iso2Code: AW

iso2code: ZJ

value: Latin America & Caribbean

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: Oranjestad

country_code: ABW

country_name: Aruba

value: Sum

value: CC BY-4.0

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: World Development Indicators

Africa Eastern and Southern

iso2Code: ZH

value: Aggregates

country_code: AFE

country_name: Africa Eastern and Southern

value: Market capitalization of listed domestic companies (current US$)

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


value: Financial Sector

Afghanistan

iso2Code: AF

value: South Asia

value: Low income

iso2code: XI

value: IDA

capitalCity: Kabul

country_code: AFG

country_name: Afghanistan

value: Financial Sector: Capital markets


Africa Western and Central

iso2Code: ZI

country_code: AFW

country_name: Africa Western and Central

value: Sum


Angola

iso2Code: AO

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

iso2code: XN

value: Lower middle income

value: IBRD

capitalCity: Luanda

country_code: AGO

country_name: Angola

value: CC BY-4.0


Albania

iso2Code: AL

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

iso2code: XT

value: Upper middle income

capitalCity: Tirane

country_code: ALB

country_name: Albania

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: World Development Indicators

value: Financial Sector

Andorra

iso2Code: AD

value: High income

value: Not classified

capitalCity: Andorra la Vella

country_code: AND

country_name: Andorra

value: Market capitalization of listed domestic companies (current US$)

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


Arab World

value: Aggregates

country_code: ARB

country_name: Arab World

value: Sum

value: Financial Sector: Capital markets


United Arab Emirates

iso2Code: AE

iso2code: ZQ

value: Middle East & North Africa

capitalCity: Abu Dhabi

country_code: ARE

country_name: United Arab Emirates

value: CC BY-4.0


Argentina

iso2Code: AR

value: Latin America & Caribbean

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

value: Upper middle income

iso2code: XF

value: IBRD

capitalCity: Buenos Aires

country_code: ARG

country_name: Argentina

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.


value: World Development Indicators

Armenia

iso2Code: AM

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

capitalCity: Yerevan

country_code: ARM

country_name: Armenia

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: Financial Sector

American Samoa

iso2Code: AS

value: East Asia & Pacific

iso2code: XD

value: High income

value: Not classified

capitalCity: Pago Pago

country_code: ASM

country_name: American Samoa

value: Market capitalization of listed domestic companies (current US$)

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


Antigua and Barbuda

iso2Code: AG

iso2code: ZJ

value: Latin America & Caribbean

capitalCity: Saint John's

country_code: ATG

country_name: Antigua and Barbuda

value: Sum

value: CC BY-4.0

value: Financial Sector: Capital markets


value: World Development Indicators

Australia

iso2Code: AU

iso2code: XX

capitalCity: Canberra

country_code: AUS

country_name: Australia

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.


Austria

iso2Code: AT

value: Europe & Central Asia

capitalCity: Vienna

country_code: AUT

country_name: Austria

value: World Federation of Exchanges database.


Azerbaijan

iso2Code: AZ

value: Europe & Central Asia (excluding high income)

value: Upper middle income

value: IBRD

capitalCity: Baku

country_code: AZE

country_name: Azerbaijan

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.


value: Financial Sector

Burundi

iso2Code: BI

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XM

value: Low income

iso2code: XI

value: IDA

capitalCity: Bujumbura

country_code: BDI

country_name: Burundi

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Belgium

iso2Code: BE

value: High income

value: Not classified

capitalCity: Brussels

country_code: BEL

country_name: Belgium

value: Sum

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


value: World Development Indicators

Benin

iso2Code: BJ

iso2code: XN

value: Lower middle income

capitalCity: Porto-Novo

country_code: BEN

country_name: Benin

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: World Federation of Exchanges database.

value: Financial Sector: Capital markets


value: Financial Sector

Burkina Faso

iso2Code: BF

value: Sub-Saharan Africa

capitalCity: Ouagadougou

country_code: BFA

country_name: Burkina Faso

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.


Bangladesh

iso2Code: BD

value: South Asia

value: IDA

capitalCity: Dhaka

country_code: BGD

country_name: Bangladesh

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Bulgaria

iso2Code: BG

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

iso2code: XT

value: Upper middle income

iso2code: XF

value: IBRD

capitalCity: Sofia

country_code: BGR

country_name: Bulgaria

value: Sum


value: World Development Indicators

Bahrain

iso2Code: BH

iso2code: ZQ

value: Middle East & North Africa

iso2code: XD

value: High income

value: Not classified

capitalCity: Manama

country_code: BHR

country_name: Bahrain

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


value: Financial Sector

Bahamas, The

iso2Code: BS

iso2code: ZJ

value: Latin America & Caribbean

iso2code: XX

capitalCity: Nassau

country_code: BHS

country_name: Bahamas, The

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


Bosnia and Herzegovina

iso2Code: BA

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

value: Upper middle income

value: IBRD

capitalCity: Sarajevo

country_code: BIH

country_name: Bosnia and Herzegovina

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: World Development Indicators

Belarus

iso2Code: BY

capitalCity: Minsk

country_code: BLR

country_name: Belarus

value: Sum


Belize

iso2Code: BZ

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

capitalCity: Belmopan

country_code: BLZ

country_name: Belize

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0


value: Financial Sector

Bermuda

iso2Code: BM

iso2code: XU

value: North America

value: High income

value: Not classified

capitalCity: Hamilton

country_code: BMU

country_name: Bermuda

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


Bolivia

iso2Code: BO

value: Latin America & Caribbean

iso2code: XN

value: Lower middle income

capitalCity: La Paz

country_code: BOL

country_name: Bolivia

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


value: World Development Indicators

Brazil

iso2Code: BR

value: Upper middle income

value: IBRD

capitalCity: Brasilia

country_code: BRA

country_name: Brazil

value: Sum

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: Financial Sector

Barbados

iso2Code: BB

capitalCity: Bridgetown

country_code: BRB

country_name: Barbados

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0


Brunei Darussalam

iso2Code: BN

value: East Asia & Pacific

value: High income

value: Not classified

capitalCity: Bandar Seri Begawan

country_code: BRN

country_name: Brunei Darussalam

value: Annual


Bhutan

iso2Code: BT

value: South Asia

value: Lower middle income

iso2code: XI

value: IDA

capitalCity: Thimphu

country_code: BTN

country_name: Bhutan

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


value: World Development Indicators

Botswana

iso2Code: BW

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XT

iso2code: XF

capitalCity: Gaborone

country_code: BWA

country_name: Botswana

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


value: Financial Sector

Central African Republic

iso2Code: CF

iso2code: XM

value: Low income

capitalCity: Bangui

country_code: CAF

country_name: Central African Republic

value: Sum

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Canada

iso2Code: CA

value: North America

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: Ottawa

country_code: CAN

country_name: Canada

value: Annual


value: World Development Indicators

Central Europe and the Baltics

value: Aggregates

country_code: CEB

country_name: Central Europe and the Baltics

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


Switzerland

iso2Code: CH

value: Europe & Central Asia

capitalCity: Bern

country_code: CHE

country_name: Switzerland

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.


value: Financial Sector

Channel Islands

iso2Code: JG

country_code: CHI

country_name: Channel Islands

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


Chile

iso2Code: CL

iso2code: ZJ

value: Latin America & Caribbean

value: IBRD

capitalCity: Santiago

country_code: CHL

country_name: Chile

value: Sum

value: Market capitalization of listed domestic companies (current US$)


China

iso2Code: CN

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

value: Upper middle income

capitalCity: Beijing

country_code: CHN

country_name: China

value: CC BY-4.0

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: World Development Indicators

Cote d'Ivoire

iso2Code: CI

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

iso2code: XN

value: Lower middle income

value: IDA

capitalCity: Yamoussoukro

country_code: CIV

country_name: Côte d'Ivoire

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual


value: Financial Sector

Cameroon

iso2Code: CM

iso2code: XH

value: Blend

capitalCity: Yaounde

country_code: CMR

country_name: Cameroon

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


Congo, Dem. Rep.

iso2Code: CD

iso2code: ZG

iso2code: ZF

value: Low income

iso2code: XI

capitalCity: Kinshasa

country_code: COD

country_name: Congo, Dem. Rep.

value: Sum

value: Market capitalization of listed domestic companies (current US$)


value: World Development Indicators

Congo, Rep.

iso2Code: CG

capitalCity: Brazzaville

country_code: COG

country_name: Congo, Rep.

value: CC BY-4.0

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Colombia

iso2Code: CO

value: Latin America & Caribbean

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

iso2code: XT

value: Upper middle income

iso2code: XF

value: IBRD

capitalCity: Bogota

country_code: COL

country_name: Colombia


value: Financial Sector

Comoros

iso2Code: KM

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

value: Lower middle income

value: IDA

capitalCity: Moroni

country_code: COM

country_name: Comoros

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual


Cabo Verde

iso2Code: CV

value: Blend

capitalCity: Praia

country_code: CPV

country_name: Cabo Verde

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


value: World Development Indicators

Costa Rica

iso2Code: CR

iso2code: ZJ

value: Latin America & Caribbean

capitalCity: San Jose

country_code: CRI

country_name: Costa Rica

value: Sum

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: Financial Sector

Caribbean small states

value: Aggregates

country_code: CSS

country_name: Caribbean small states


Cuba

iso2Code: CU

value: Latin America & Caribbean (excluding high income)

value: Upper middle income

iso2code: XX

value: Not classified

capitalCity: Havana

country_code: CUB

country_name: Cuba


Curacao

iso2Code: CW

iso2code: XD

value: High income

capitalCity: Willemstad

country_code: CUW

country_name: Curacao

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual


Cayman Islands

iso2Code: KY

capitalCity: George Town

country_code: CYM

country_name: Cayman Islands

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.


value: World Development Indicators

Cyprus

iso2Code: CY

value: Europe & Central Asia

capitalCity: Nicosia

country_code: CYP

country_name: Cyprus

value: Financial Sector: Capital markets

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.


Czechia

iso2Code: CZ

capitalCity: Prague

country_code: CZE

country_name: Czech Republic

value: Sum

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0


value: Financial Sector

Germany

iso2Code: DE

capitalCity: Berlin

country_code: DEU

country_name: Germany

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Djibouti

iso2Code: DJ

iso2code: ZQ

value: Middle East & North Africa

iso2code: XQ

value: Middle East & North Africa (excluding high income)

iso2code: XN

value: Lower middle income

iso2code: XI

value: IDA

capitalCity: Djibouti

country_code: DJI

country_name: Djibouti


Dominica

iso2Code: DM

value: Latin America & Caribbean

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

iso2code: XT

value: Upper middle income

iso2code: XH

value: Blend

capitalCity: Roseau

country_code: DMA

country_name: Dominica

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual


value: World Development Indicators

Denmark

iso2Code: DK

value: Europe & Central Asia

value: High income

value: Not classified

capitalCity: Copenhagen

country_code: DNK

country_name: Denmark

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


value: Financial Sector

Dominican Republic

iso2Code: DO

iso2code: ZJ

iso2code: XF

value: IBRD

capitalCity: Santo Domingo

country_code: DOM

country_name: Dominican Republic

value: Sum

value: Market capitalization of listed domestic companies (current US$)

value: CC BY-4.0

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Algeria

iso2Code: DZ

value: Middle East & North Africa

value: Middle East & North Africa (excluding high income)

value: Lower middle income

capitalCity: Algiers

country_code: DZA

country_name: Algeria

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.


value: World Development Indicators

name: East Asia & Pacific (excluding high income)

value: Aggregates

country_code: EAP

value: Annual


country_code: EAR

country_name: Early-demographic dividend

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.


country_code: EAS

country_name: East Asia & Pacific

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


value: Financial Sector

name: Europe & Central Asia (excluding high income)

country_code: ECA


country_code: ECS

country_name: Europe & Central Asia

value: Sum


Ecuador

iso2Code: EC

value: Latin America & Caribbean

value: Latin America & Caribbean (excluding high income)

value: Upper middle income

value: IBRD

capitalCity: Quito

country_code: ECU

country_name: Ecuador

value: Market capitalization of listed domestic companies (current US$)


Egypt, Arab Rep.

iso2Code: EG

value: Middle East & North Africa

value: Middle East & North Africa (excluding high income)

capitalCity: Cairo

country_code: EGY

country_name: Egypt, Arab Rep.

value: CC BY-4.0

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: World Development Indicators

Euro area

iso2Code: XC

value: Aggregates

country_code: EMU

country_name: Euro area

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual


Eritrea

iso2Code: ER

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XM

value: Low income

value: IDA

capitalCity: Asmara

country_code: ERI

country_name: Eritrea

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


value: Financial Sector

Spain

iso2Code: ES

value: Europe & Central Asia

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: Madrid

country_code: ESP

country_name: Spain

value: Sum

value: Market capitalization of listed domestic companies (current US$)


value: World Development Indicators

Estonia

iso2Code: EE

capitalCity: Tallinn

country_code: EST

country_name: Estonia

value: CC BY-4.0

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


Ethiopia

iso2Code: ET

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

iso2code: XI

capitalCity: Addis Ababa

country_code: ETH

country_name: Ethiopia

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual


European Union

iso2Code: EU

value: Aggregates

country_code: EUU

country_name: European Union

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.


value: Financial Sector

name: Fragile and conflict affected situations

country_code: FCS

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


Finland

iso2Code: FI

value: Europe & Central Asia

value: High income

value: Not classified

capitalCity: Helsinki

country_code: FIN

country_name: Finland


value: World Development Indicators

Fiji

iso2Code: FJ

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

iso2code: XT

value: Upper middle income

iso2code: XH

value: Blend

capitalCity: Suva

country_code: FJI

country_name: Fiji

value: Sum

value: Market capitalization of listed domestic companies (current US$)


France

iso2Code: FR

capitalCity: Paris

country_code: FRA

country_name: France

value: CC BY-4.0

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: Financial Sector

Faroe Islands

iso2Code: FO

capitalCity: Torshavn

country_code: FRO

country_name: Faroe Islands

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.


Micronesia, Fed. Sts.

iso2Code: FM

iso2code: XN

value: Lower middle income

value: IDA

capitalCity: Palikir

country_code: FSM

country_name: Micronesia, Fed. Sts.

value: Financial Sector: Capital markets


value: World Development Indicators

Gabon

iso2Code: GA

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XF

value: IBRD

capitalCity: Libreville

country_code: GAB

country_name: Gabon


United Kingdom

iso2Code: GB

value: Europe & Central Asia

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: London

country_code: GBR

country_name: United Kingdom

value: Sum

value: Market capitalization of listed domestic companies (current US$)


Georgia

iso2Code: GE

value: Europe & Central Asia (excluding high income)

value: Upper middle income

capitalCity: Tbilisi

country_code: GEO

country_name: Georgia

value: CC BY-4.0

value: Stock market data were previously sourced from Standard & Poor's until they discontinued their "Global Stock Markets Factbook" and database in April 2013. Time series have been replaced in December 2015 with data from the World Federation of Exchanges and may differ from the previous S&P definitions and methodology.

value: Annual

value: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values converted to U.S. dollars using corresponding year-end foreign exchange rates.

value: Market capitalization figures include: shares of listed domestic companies; shares of foreign companies which are exclusively listed on an exchange (i.e., the foreign company is not listed on any other exchange); common and preferred shares of domestic companies; and shares without voting rights. Market capitalization figures exclude: collective investment funds ; rights, warrants, ETFs, convertible instruments ; options, futures ; foreign listed shares other than exclusively listed ones; companies whose only business goal is to hold shares of other listed companies, such as holding companies and investment companies, regardless of their legal status; and companies admitted to trading (i.e., companies whose shares are traded at the exchange but not listed at the exchange).


value: Financial Sector

Ghana

iso2Code: GH

value: Lower middle income

iso2code: XI

value: IDA

capitalCity: Accra

country_code: GHA

country_name: Ghana

value: World Federation of Exchanges database.

value:
Stock market size can be measured in various ways, and each may produce a different ranking of countries.

The development of an economy's financial markets is closely related to its overall development. Well-functioning financial systems provide good and easily accessible information which can lower transaction costs and subsequently improve resource allocation and boosts economic growth. Both banking systems and stock markets enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient relative to domestic banks.

Open economies with sound macroeconomic policies, good legal systems, and shareholder protection attract capital and therefore have larger financial markets. Recent research on stock market development shows that modern communications technology and increased financial integration have resulted in more cross-border capital flows, a stronger presence of financial firms around the world, and the migration of stock exchange activities to international exchanges. Many firms in emerging markets now cross-list on international exchanges, which provides them with lower cost capital and more liquidity-traded shares. However, this also means that exchanges in emerging markets may not have enough financial activity to sustain them, putting pressure on them to rethink their operations.

value: Data cover measures of size (market capitalization, number of listed domestic companies) and liquidity (value of shares traded as a percentage of gross domestic product, value of shares traded as a percentage of market capitalization). The comparability of such data across countries may be limited by conceptual and statistical weaknesses, such as inaccurate reporting and differences in accounting standards.

value: Financial Sector: Capital markets


value: World Development Indicators

Gibraltar

iso2Code: GI

value: Europe & Central Asia

value: High income

value: Not classified

country_code: GIB

country_name: Gibraltar


Guinea

iso2Code: GN

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

capitalCity: Conakry

country_code: GIN

country_name: Guinea

value: Sum

value: Market capitalization of listed domestic companies (current US$)