Market capitalization of listed domestic companies (current US$)
1975 - 2018 - CM.MKT.LCAP.CD (Source database: World Development Indicators)
Overview
Series unique ID
CM.MKT.LCAP.CD
Series Name
Market capitalization of listed domestic companies (current US$)
Database ID
WLD_2019_WDI_v01_M
Periodicity of data
Annual
Definition long
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.
Limitations and exceptions
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.
Relevance
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.
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.
Aggregation method
Sum
Notes
Compliance with international resolution
API documentation
Description
See the Developer Information webpage for detailed documentation of the API
Documentation Link
https://datahelpdesk.worldbank.org/knowledgebase/topics/125589-developer-information
Series links
Series links
| Link type | Description | Link | Format |
|---|---|---|---|
| API | Data in JSON | https://api.worldbank.org/v2/countries/all/indicators/CM.MKT.LCAP.CD?date=1975:2018&format=json | json |
| API | Data in XML | https://api.worldbank.org/v2/countries/all/indicators/CM.MKT.LCAP.CD?date=1975:2018 | XML |
| API | Metadata in JSON | https://api.worldbank.org/v2/sources/2/indicator/cm.mkt.lcap.cd/metadata?format=json | json |
| API | Metadata in XML | https://api.worldbank.org/v2/sources/2/indicator/cm.mkt.lcap.cd/metadata | XML |
Geographic information
Geographic locations
| Location name | Location code |
|---|---|
| Arab World | ARB |
| United Arab Emirates | ARE |
| Argentina | ARG |
| Australia | AUS |
| Austria | AUT |
| Azerbaijan | AZE |
| Belgium | BEL |
| Bangladesh | BGD |
| Bulgaria | BGR |
| Bahrain | BHR |
| Bermuda | BMU |
| Brazil | BRA |
| Barbados | BRB |
| Botswana | BWA |
| Canada | CAN |
| Central Europe and the Baltics | CEB |
| Switzerland | CHE |
| Channel Islands | CHI |
| Chile | CHL |
| China | CHN |
| Colombia | COL |
| Costa Rica | CRI |
| Caribbean small states | CSS |
| Cayman Islands | CYM |
| Cyprus | CYP |
| Czech Republic | CZE |
| Germany | DEU |
| Denmark | DNK |
| East Asia & Pacific (excluding high income) | EAP |
| Early-demographic dividend | EAR |
| East Asia & Pacific | EAS |
| Europe & Central Asia (excluding high income) | ECA |
| Europe & Central Asia | ECS |
| Ecuador | ECU |
| Egypt, Arab Rep. | EGY |
| Euro area | EMU |
| Spain | ESP |
| European Union | EUU |
| Fragile and conflict affected situations | FCS |
| Finland | FIN |
| France | FRA |
| United Kingdom | GBR |
| Ghana | GHA |
| Greece | GRC |
| High income | HIC |
| Hong Kong SAR, China | HKG |
| Croatia | HRV |
| Hungary | HUN |
| IBRD only | IBD |
| IDA & IBRD total | IBT |
| IDA total | IDA |
| IDA blend | IDB |
| Indonesia | IDN |
| IDA only | IDX |
| India | IND |
| Ireland | IRL |
| Iran, Islamic Rep. | IRN |
| Israel | ISR |
| Italy | ITA |
| Jamaica | JAM |
| Jordan | JOR |
| Japan | JPN |
| Kazakhstan | KAZ |
| Kenya | KEN |
| Korea, Rep. | KOR |
| Kuwait | KWT |
| Latin America & Caribbean (excluding high income) | LAC |
| Lebanon | LBN |
| Latin America & Caribbean | LCN |
| Least developed countries: UN classification | LDC |
| Sri Lanka | LKA |
| Lower middle income | LMC |
| Low & middle income | LMY |
| Late-demographic dividend | LTE |
| Luxembourg | LUX |
| Morocco | MAR |
| Middle East & North Africa | MEA |
| Mexico | MEX |
| Middle income | MIC |
| Malta | MLT |
| Middle East & North Africa (excluding high income) | MNA |
| Montenegro | MNE |
| Mauritius | MUS |
| Malaysia | MYS |
| North America | NAC |
| Namibia | NAM |
| Nigeria | NGA |
| Netherlands | NLD |
| Norway | NOR |
| New Zealand | NZL |
| OECD members | OED |
| Oman | OMN |
| Other small states | OSS |
| Pakistan | PAK |
| Panama | PAN |
| Peru | PER |
| Philippines | PHL |
| Papua New Guinea | PNG |
| Poland | POL |
| Pre-demographic dividend | PRE |
| Portugal | PRT |
| Paraguay | PRY |
| West Bank and Gaza | PSE |
| Post-demographic dividend | PST |
| Qatar | QAT |
| Romania | ROU |
| Russian Federation | RUS |
| South Asia | SAS |
| Saudi Arabia | SAU |
| Singapore | SGP |
| Serbia | SRB |
| Sub-Saharan Africa (excluding high income) | SSA |
| Sub-Saharan Africa | SSF |
| Small states | SST |
| Slovak Republic | SVK |
| Slovenia | SVN |
| Sweden | SWE |
| Swaziland | SWZ |
| East Asia & Pacific (IDA & IBRD) | TEA |
| Europe & Central Asia (IDA & IBRD) | TEC |
| Thailand | THA |
| Latin America & Caribbean (IDA & IBRD) | TLA |
| Middle East & North Africa (IDA & IBRD) | TMN |
| South Asia (IDA & IBRD) | TSA |
| Sub-Saharan Africa (IDA & IBRD) | TSS |
| Trinidad and Tobago | TTO |
| Tunisia | TUN |
| Turkey | TUR |
| Tanzania | TZA |
| Ukraine | UKR |
| Upper middle income | UMC |
| Uruguay | URY |
| United States | USA |
| Venezuela, RB | VEN |
| Vietnam | VNM |
| World | WLD |
| South Africa | ZAF |
| Zambia | ZMB |
| Zimbabwe | ZWE |