Year 2005: China and India Grow as World Financial Powers

Figure 1. Firm size distribution

Note: The panels of this figure show the estimated Kemel distributions of the log of total assets (in2011 US dollars) for issuing and non-issuing firms in 2003 and 2010. User firms are those that raise capital through equity between 2004 and 2010, and non-users are the other firms in our sample. All firms with capital-raising activity in 2003 are excluded from the sample in this figure. Only firms with data on total assets in both 2003 and 2010 are included in this figure.