Hong Kong topped the World Economic Forum’s 2011 index of financial market development. Singapore slipped one place to fourth. Extracts on Singapore as below.
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Singapore falls one spot to place 4th in the Index, accompanied by a decrease in overall score. Like Hong
Kong, Singapore exhibits strength in its factors, policies, and institutions. Singapore’s strong institutional (1st)
and business (2nd) environment is reflected in its commitment to contract enforcement (1st), improvement
in human capital (3rd), and low cost of doing business (2nd). Singapore experiences declines in score across all
three financial intermediation pillars: banking financial services (16th), non-banking financial services (12th),
and financial markets (2nd). Of particular significance are the 13-rank declines in both securitization (28th)
and banking system efficiency (14th). Nevertheless, Singapore continues to make access to commercial capital
(2nd) readily available. This is further highlighted by a strong venture capital presence (3rd) and high level of
foreign direct investment (2nd).
Its 2nd rank in the variable Quality of overall infrastructure makes this variable a development advantage, whereas Internet users, on which it ranks 19th, constitutes a development disadvantage for the country.
source :-
World Economic Forum’s 2011 index
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