Absence of excessive fluctuations, and constant macroeconomic indicators.
Reflects the political and economic efforts in favor of opening the markets and reducing restrictions on investment.
Solvency and efficiency of the banking system.
Size and diversification of the stock market.
Degree to which individuals and companies use the stock market and their ability to access it.
Efficacy and liquidity of participants and financial intermediaries.
Price variations in the stock market.