Global Financial Development
Efficiency of Financial Markets
This map reflects the efficiency of financial markets, based on the stock market turnover ratio. This ratio is calculated as the total value of shares traded divided by the average market capitalization for the period. The data are compiled by the authors of the Global Financial Development database from Standard and Poor's, the Global Stock Markets Factbook and supplemental S&P data, and are reported by the World Development Indicator.
Source: World Bank Global Financial Development Database, updated September 2015.