World Economic Forum's 2009 Financial Development Report

From RGE newsletter... Australia is 2nd on the world's Financial Development Index.

World Economic Forum's 2009 Financial Development Report: UK Comes First

On October 8, 2009, the World Economic Forum launched its second Financial Development Index, a rigorous, comprehensive analysis of financial systems and capital markets in 55 countries that analyzes key drivers of financial system development and economic growth in developing and developed countries. The research was led by Dr. Nouriel Roubini. Global financial centers continue to top the index, yet financial instability affected them adversely pulling down their scores relative to the 2008 report. The UK, aided by the relative strength of its banking and non-banking financial activities, claimed the index’s top spot from the U.S., which fell to the third position following Australia on account of lower financial stability scores and a weakened banking sector.