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Around the world, when people think about stocks, they think Wall Street.
Worth around $24 trillion today, the U.S. is home to the largest global equity market in the world.
However, it doesn't see as much turnover as some other markets.
"The value of shares traded at an individual country level is dependent on (other than the size of the equity market) any free-float, liquidity restrictions and transaction costs," write Credit Suisse analysts. "Moreover, variations in local equity culture reflect significant differences in the turnover ratio (total value of shares traded during the period divided by the average market capitalization for the period) even among mature equity markets."
According to their research, seven overseas stock markets see more turnover than the U.S.'s.
"China and Turkey appear as relative outliers, with a higher turnover ratio than more developed markets such as Japan and the USA, owing to their high levels of retail participation and a strong equity culture among domestic high net worth individuals," they note.
"The smaller Latin American markets - Chile, Colombia and Peru - have by far the lowest equity turnover given high ownership of pension funds (especially in Chile), with trading concentrated in only a limited number of large capitalization stocks."
Credit Suisse