World Economic Forum's Financial Development Index

The Report contains detailed profiles for the 52 countries covered by the FDI this year. Data used in the calculation of the Index are fully annotated and clearly presented.



While financial systems are a key factor in economic growth, there is still surprisingly little agreement about how to define and measure their development. To address this gap, the World Economic Forum has undertaken a research initiative aimed at providing business leaders and policymakers with a common framework to identify and discuss the key factors in the development of global financial systems and markets. This inaugural Financial Development Report 2008measures and analyzes the factors enabling the development of financial systems in 52 countries. The Report aims to provide a comprehensive means for countries to benchmark the various aspects of their financial systems and establish priorities for improvement. It will be published annually so that countries can continue to benchmark themselves and track their progress over time. The Report presents the rankings of the first Financial Development Index (FDI) developed by the World Economic Forum in collaboration with the academic community, multilateral organizations and business leaders. It assembles a vast amount of data to create a holistic assessment of the different aspects of complex financial systems including the institutional environment, the business environment, financial stability, banks, capital markets, and overall capital availability and access. Essay contributions elaborate on the role of financial systems in reducing poverty as well as the relationship between financial stability and the development of financial systems. Written in a nontechnical language and style, the Report appeals to a large audience made up of policymakers, business leaders, academics, and different organizations of civil society. It aims to provide policymakers a balanced perspective as to which aspects of their country’s financial system are most important and the ability to empirically calibrate this view relative to other countries.
The Financial Development Index Rankings
The Financial Development Index: Assessing the Financial Systems
Country/Economy Profiles

Seven pillars form the foundation of the Index:
1. Institutional environment
2. Business environment
3. Financial stability
4. Banks
5. Non-banks
6. Financial markets
7. Size, depth, and accessss


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