U.S., Britain Top World Economic Forum’s Index
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
New York’s status as the world’s leading financial center may be challenged today in a study by the World Economic Forum, the Financial Times reported on its Web site. The study shows that the health of the British financial system is equal to the American system.
America and Britain were at the top of the World Economic Forum’s first “financial development index,” the FT reported. Germany, Japan, Canada, and France followed.
The index was designed to measure the health of financial systems in 52 countries. The WEF looked at factors such as the stability of banks and the soundness of a country’s government, according to the FT.
At the bottom of the index are Venezuela, Ukraine, and Nigeria, the report indicated.
The report, led by a New York University professor, Nouriel Roubini, will be presented to world bankers and regulators during the next few months, the FT reported.