Stock market history.

[Avantegarde]

Does anyone know what percentage of world stock market value was contributed by the value of shares on the London Stock Exchange back in 1990? The current value appears to be about 4%. I would like to find a figure to illustrate the decline in the relative size of the UK stock market in the past 30 years or so. A figure for 1984 would also be useful as that was the year in which the FTSE 100 index was launched. Thanks.

[1nvest]

By eye, much the same in 1990. Less in 1984 due to Japan's rise that also grabbed a large chunk out of US stocks share of global market cap



That link indicates sourced from Elroy Dimson/Paul Marsh/Mike Stauton DMS database so a search for that might reveal actual data values.

[gryffron]

The graphs says 9% in 2012 (figures down the right). Though I'd be willing to bet USA and China have squeezed UK and RoTW significantly in the last 10 years.

Gryff

[mc2fool]

That link indicates sourced from Elroy Dimson/Paul Marsh/Mike Stauton DMS database so a search for that might reveal actual data values.

The chart comes from the Credit Suisse Global Investment Returns Yearbook 2013, which is at:

https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/credit-suisse-global-investment-returns-yearbook-2013.pdf

All of them are available at: https://www.credit-suisse.com/about-us/en/reports-research/studies-publications.html

Note that the chart is of 22 countries (most of which are included in "All others") which covered 98% of the global stock market in 1900, and over 87% of its market capitalization by the start of 2013.

AFAIK neither CS nor DMS openly publish the underlying datasets, although I gather more details are available in the Global Investment Returns Sourcebook for the year, but the last I looked the sourcebooks were going for £500!

Some interesting historical comments from the Yearbook:

"At its peak, Japan accounted for 45% of the total market capitalization of our 22 countries."

"At our base date of 1900, stock exchanges existed in 33 of today’s nations. Until this year, our database contained 19 countries, accounting for some 87% of world market capitalization at end-1899. But, despite this extensive coverage, it is still possible that we are overstating worldwide equity returns by omitting countries that performed poorly or failed to survive.
The two largest missing markets were Austria-Hungary and Russia, which, at end-1899, accounted for 5% and 6% of world market capitalization, respectively. The best-known cases of markets that failed to survive were Russia and China. We have now added these countries to our database. "

Russian stocks (black in the chart) were, of course, expropriated in 1917 and China (included in "All others" in the chart) in 1949.

[scrumpyjack]

Does anyone know what percentage of world stock market value was contributed by the value of shares on the London Stock Exchange back in 1990? The current value appears to be about 4%. I would like to find a figure to illustrate the decline in the relative size of the UK stock market in the past 30 years or so. A figure for 1984 would also be useful as that was the year in which the FTSE 100 index was launched. Thanks.

I doubt it is a figure with any meaning as most of the largest companies listed in London do virtually all their business overseas and also have their shares listed on other stock exchanges.

[TUK020]

By eye, much the same in 1990. Less in 1984 due to Japan's rise that also grabbed a large chunk out of US stocks share of global market cap



That link indicates sourced from Elroy Dimson/Paul Marsh/Mike Stauton DMS database so a search for that might reveal actual data values.

So China is buried in the "All others"? making it about the same as the UK?

[dealtn]

So China is buried in the "All others"? making it about the same as the UK?

How big, important or relevant do you think the China Listed Market was in the period 1900 - 2012 then? Given that time frame it's hard to argue "other" isn't the appropriate location for it.

[TUK020]

So China is buried in the "All others"? making it about the same as the UK?

How big, important or relevant do you think the China Listed Market was in the period 1900 - 2012 then? Given that time frame it's hard to argue "other" isn't the appropriate location for it.

Ah, hadn't noticed the end date, assumed it was up to today