Financial markets development, efficiency - Country rankings

* indicates monthly or quarterly data series

Financial markets development, efficiency, 2021:

The average for 2021 based on 93 countries was 0.325 index points. The highest value was in Brazil: 1 index points and the lowest value was in Rwanda: 0 index points. The indicator is available from 1980 to 2021. Below is a chart for all countries where data are available.

Measure: index points; Source: International Monetary Fund
Select indicator
* indicates monthly or quarterly data series


Countries Financial markets development, efficiency, 2021 Global rank Available data
Brazil 1 1 1980 - 2021
China 1 2 1982 - 2021
Finland 1 3 1980 - 2021
Italy 1 4 1980 - 2021
Japan 1 5 1980 - 2021
Portugal 1 6 1980 - 2021
South Korea 1 7 1980 - 2021
Thailand 1 8 1980 - 2021
Turkey 1 9 1985 - 2021
USA 1 10 1980 - 2021
Germany 0.98 11 1980 - 2021
India 0.925 12 1980 - 2021
Australia 0.88 13 1980 - 2021
Sweden 0.845 14 1980 - 2021
UK 0.815 15 1980 - 2021
Switzerland 0.806 16 1980 - 2021
Spain 0.796 17 1980 - 2021
France 0.785 18 1980 - 2021
Netherlands 0.747 19 1980 - 2021
Malaysia 0.703 20 1980 - 2021
Hong Kong 0.618 21 1980 - 2021
Poland 0.58 22 1980 - 2021
Denmark 0.556 23 1980 - 2021
Hungary 0.499 24 1982 - 2021
Israel 0.493 25 1980 - 2021
Russia 0.491 26 1990 - 2021
Egypt 0.48 27 1980 - 2021
Canada 0.472 28 1980 - 2021
Iran 0.469 29 1980 - 2021
Norway 0.425 30 1980 - 2021
Greece 0.399 31 1982 - 2021
Vietnam 0.377 32 1992 - 2021
Austria 0.372 33 1980 - 2021
Pakistan 0.365 34 1980 - 2021
Ireland 0.36 35 1980 - 2021
Belgium 0.35 36 1980 - 2021
South Africa 0.345 37 1980 - 2021
Indonesia 0.326 38 1980 - 2021
Chile 0.266 39 1980 - 2021
Mexico 0.255 40 1980 - 2021
Saudi Arabia 0.247 41 1980 - 2021
New Zealand 0.207 42 1980 - 2021
Bangladesh 0.205 43 1980 - 2021
Singapore 0.202 44 1980 - 2021
Czechia 0.196 45 1990 - 2021
Qatar 0.173 46 1980 - 2021
UA Emirates 0.157 47 1980 - 2021
Kuwait 0.153 48 1980 - 2021
Philippines 0.148 49 1980 - 2021
Romania 0.142 50 1980 - 2021
Sri Lanka 0.132 51 1980 - 2021
Colombia 0.116 52 1980 - 2021
Serbia 0.116 53 1994 - 2021
Jordan 0.1 54 1980 - 2021
Argentina 0.093 55 1980 - 2021
Oman 0.078 56 1980 - 2021
Morocco 0.068 57 1980 - 2021
Slovenia 0.068 58 1992 - 2021
Tunisia 0.066 59 1980 - 2021
Mauritius 0.062 60 1980 - 2021
Ukraine 0.057 61 1992 - 2021
Botswana 0.055 62 1980 - 2021
Nigeria 0.054 63 1980 - 2021
Tr.&Tobago 0.053 64 1980 - 2021
Paraguay 0.047 65 1980 - 2021
Lebanon 0.043 66 1980 - 2021
Bahrain 0.03 67 1980 - 2021
Ecuador 0.03 68 1980 - 2021
Peru 0.03 69 1980 - 2021
Kenya 0.028 70 1980 - 2021
Venezuela 0.028 71 1980 - 2021
Namibia 0.024 72 1990 - 2021
Ivory Coast 0.023 73 1982 - 2021
Costa Rica 0.02 74 1980 - 2021
Panama 0.019 75 1980 - 2021
Swaziland 0.019 76 1980 - 2021
Belarus 0.018 77 1993 - 2021
Croatia 0.018 78 1992 - 2021
Malta 0.017 79 1980 - 2021
Bulgaria 0.015 80 1988 - 2021
Seychelles 0.012 81 1980 - 2021
Kazakhstan 0.011 82 1993 - 2021
Cyprus 0.01 83 1980 - 2021
Zambia 0.008 84 1980 - 2021
Jamaica 0.005 85 1980 - 2021
Ghana 0.004 86 1980 - 2021
Tanzania 0.004 87 1980 - 2021
Barbados 0.003 88 1980 - 2021
Slovakia 0.002 89 1991 - 2021
Uruguay 0.002 90 1980 - 2021
Luxembourg 0.001 91 1980 - 2021
Papua N.G. 0.001 92 1980 - 2021
Rwanda 0 93 1980 - 2021



Definition: Measures the efficiency of financial markets using the following variable: Stock market turnover ratio (stocks traded to capitalization). See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.

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All articles

1. Brazil
2. China
3. Finland
4. Italy
5. Japan
6. Portugal
7. South Korea
8. Thailand
9. Turkey
10. USA
11. Germany
12. India
13. Australia
14. Sweden
15. UK
16. Switzerland
17. Spain
18. France
19. Netherlands
20. Malaysia
21. Hong Kong
22. Poland
23. Denmark
24. Hungary
25. Israel
26. Russia
27. Egypt
28. Canada
29. Iran
30. Norway
31. Greece
32. Vietnam
33. Austria
34. Pakistan
35. Ireland
36. Belgium
37. South Africa
38. Indonesia
39. Chile
40. Mexico
41. Saudi Arabia
42. New Zealand
43. Bangladesh
44. Singapore
45. Czechia
46. Qatar
47. UA Emirates
48. Kuwait
49. Philippines
50. Romania
51. Sri Lanka
52. Colombia
53. Serbia
54. Jordan
55. Argentina
56. Oman
57. Morocco
58. Slovenia
59. Tunisia
60. Mauritius
61. Ukraine
62. Botswana
63. Nigeria
64. Tr.&Tobago
65. Paraguay
66. Lebanon
67. Bahrain
68. Ecuador
69. Peru
70. Kenya
71. Venezuela
72. Namibia
73. Ivory Coast
74. Costa Rica
75. Panama
76. Swaziland
77. Belarus
78. Croatia
79. Malta
80. Bulgaria
81. Seychelles
82. Kazakhstan
83. Cyprus
84. Zambia
85. Jamaica
86. Ghana
87. Tanzania
88. Barbados
89. Slovakia
90. Uruguay
91. Luxembourg
92. Papua N.G.
93. Rwanda
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
0.980
0.925
0.880
0.845
0.815
0.806
0.796
0.785
0.747
0.703
0.618
0.580
0.556
0.499
0.493
0.491
0.480
0.472
0.469
0.425
0.399
0.377
0.372
0.365
0.360
0.350
0.345
0.326
0.266
0.255
0.247
0.207
0.205
0.202
0.196
0.173
0.157
0.153
0.148
0.142
0.132
0.116
0.116
0.100
0.093
0.078
0.068
0.068
0.066
0.062
0.057
0.055
0.054
0.053
0.047
0.043
0.030
0.030
0.030
0.028
0.028
0.024
0.023
0.020
0.019
0.019
0.018
0.018
0.017
0.015
0.012
0.011
0.010
0.008
0.005
0.004
0.004
0.003
0.002
0.002
0.001
0.001
0.000
0
0.3
0.5
0.8
1


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