A worldwide phenomenon
Over the past 100 years, stock markets have prospered. The old ones have grown in size, and dozens of new ones have sprung up all over the globe – now over 140 countries have stock exchanges. One measure of their size is to look at the market value of the shares traded on them. This is the market capitalisation of the companies, which means the price of each share multiplied by the total number of shares the company has issued to investors. According to figures from the World Federation of Exchanges, at the end of 2010 the market capitalisation of its 52 member stock exchanges was an astonishing $57 trillion (that is $57,000,000,000,000 or $8,142 per person with the amount of shares traded in the year valued at $25 trillion. ...
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