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World Economic Forum: 2011 Financial Development Report

December 2011

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The Financial Development Report 2011 and corresponding index provide a score and rank for sixty of the world's leading financial systems, analyzing drivers of development that support economic growth.

The fourth edition of The Financial Development Report comes at a time when the world appears to be moving from crisis to crisis. Many of the underlying issues that emerged as a result of the US subprime crisis have yet to be fully addressed, and new threats seem to arise at an unimaginable speed. The urgency with which policymakers need to respond in order to contain the fallout is increasing daily. A lack of financial stability, particularly with respect to unsustainable public debt levels and high unemployment, is probably the critical issue responsible for these turbulent times. Ultimately, many of the underlying problems can be addressed only by sustainable economic growth. Therefore, the need to create an enabling environment that allows for sustainable growth is of equal, if not more, importance than financial stability.

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