Over the last centuries, the number of countries with stock exchanges has significantly grown and this rise can be easily attributed to the markets’ role in encouraging economic development by providing a generous amount of capital for national development.

Although this connection between progress and stock exchanges has been underrated for many years, it has continued to prove its worth by giving the necessary financial resources for investments that directly benefit the industrial and economic sectors of many developing countries.

Here are three of the largest stock exchanges of today’s developing countries.

 

  1. Shanghai Stock Exchange (SSE)
Image source: business.illinois.edu

Image source: business.illinois.edu

Based in the city of Shanghai in China, the SSE is one of the two major independent stock exchanges in the country and ranks fifth largest in terms of market capitalization (US$3.5 trillion) in the world as of February 2016.

However, SSE is not completely accessible to foreign investors because of the strict policies implemented by the mainland authorities as well as the Central Government.

 

  1. Bombay Stock Exchange (BSE)

 

Image source: ibtimes.co.in

Image source: ibtimes.co.in

BSE is based in Mumbai, India and was founded in 1875. It is Asia’s very first stock exchange and often referred to as the fastest stock exchange in the world (approximately performing at a 6-microsecond median trade speed).

The BSE has 5500 companies in its listings and in the global ranking, it secures the 11th spot with over $ 2 Trillion (as of July 2017 data), with stocks trading accounting for 4% of the country’s economy.

 

  1. Brasil Bolsa Balcão S.A. (B3)
Image source: wikimedia.org

Image source: wikimedia.org

The Brazilian stock exchange based in Sao Paulo was formerly known as BM&FBOVESPA and is currently the 13th largest in the world (R$2.37 Trillion market capitalization at the end of 2011).

However, the growing political turmoil in the country the following years created a slump in their economy that resulted its market capitalization to shrink to R$2.21 trillion in 2015.