The rise of emerging markets has been accompanied by rapid growth in their capital markets. But some markets have emerged more quickly than others. Chart of the week looks at which markets have grown most quickly, and in which areas.
A recent study by CityUK of 150 emerging economies found that stock market capitalisation in emerging markets more than doubled in the last six years, as did the amount outstanding of domestic and international bonds. Bank assets increased threefold, and contracts traded on derivatives exchanges rose more than fivefold.
Growth was much faster than in the rest of the world, although EMs continue to represent a small part of the global total. They accounted for just 22 per cent of global market capitalisation in 2011, up from 9 per cent in 2005, and for 30 per cent of derivatives exchange trading, up from 12 per cent.