This new research from the McKinsey Global Institute examines how the world’s financial markets are recovering after the 2008 financial crisis. It offers new data for more than 75 countries on the growth and composition of their financial stock, cross-border capital flows, and foreign investment assets and liabilities. It discusses implications for businesses, policy makers, and financial institutions, and invites others to contribute to this dialogue. This update offers readers refreshed data and analysis from its September 2009 report, Global capital markets: Entering a new era.