International Financial Centres Index: Difference between revisions
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(Created page with " == History == The Centre for International Finance (CIF) is an non-profit organisation that conducts research in the international financial system and conducts policy advisory and consultancy for governments and international organisations. It was founded in 1978 by economists and experts in the financial services sector. It began publishing an annual report that provided information to the general public on the performance of the global financial sector called the ''F...") Tags: Mobile edit Mobile web edit Visual edit |
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The '''International Financial Centres Index''' (IFCI) is an index of the most globally and regionally influential financial markets in the world. It is prepared by the Center for International Finance.
== History ==
The Centre for International Finance (CIF) is an non-profit organisation that conducts research in the international financial system and conducts policy advisory and consultancy for governments and international organisations. It was founded in 1978 by economists and experts in the financial services sector. It began publishing an annual report that provided information to the general public on the performance of the global financial sector called the ''Financial Review''. As the Financial Review grew in popularity and as global finance became increasingly interlinked, policymakers and public became increasingly interested in identifying and describing the impact of globally significant financial centres. This prompted the Editor of the ''Financial Review'' to introduce the index as ranking system for financial centres in 1987. This was prompted by the collision of many important international conflicts in the 1970s and 1980s that gave rise to several regional and global economic crises such as the [[History of Packilvania#Second Packilvanian Civil War|Second Packilvanian Civil War]], the [[Auroran Imperial War]], and the Novaran Cold War.
==Methodology==
The Index is a ranking of the most influential financial centres in the world. It does this by comparing the integration of the urban center into the economy of the world, and its region, and the impact of the city of the world's financial markets. This includes looking at the presence of large and globally or regionally relevant financial institutions, international organisations and financial services Providers. Additionally, it looks at relations of that centre with other centres, and the size of the economic output of that city.
== Characteristics ==
Global and regional financial centres are characterised by the following traits: a large stable economy, an advanced systems for trade and investment, a stable government and policy environment, macroeconomic policies conducive for large financial institutions, a dependable and globally accepted currency, and strong partnerships and relationships.
==Ranking and Classification==
===Alpha Global Centres===
Alpha Global Centres are regarded as the most influential financial centres. The influences exerted by these cities is unparalleled. The list goes as follows:
#[[Sani Bursil]], {{Flagcountry|Great Morstaybishlia}}, is regarded as the most influential financial centre in the word. It is the largest city by population in the world. It has the largest GVA of any city in the world. It is the home of the largest securities exchange in the world, the [[Auroran Stock Exchange]]. It is the capital and largest city of not only the largest national economy in the world ([[Great Morstaybishlia]]) but also the largest and most deeply integrated trade bloc and monetary and customs union in the world (the [[United Nations of the Auroran Continent]]). It is the headquarters of the some of the largest and most eminent banks in the world such as [[Golding Smithant]] and [[Vocher Cada]].
#[[Matthews]], {{Flagcountry|South Hills}}, is the economic and financial centre of the second largest national economy in the world and of the country whose currency, the Standard Hawking Dollar (SHD), is one of two alpha world reserve currencies. It is home to the most eminent global credit rating agency in the world ([[Preston & Cole]]), the second largest securities exchange in the world (the [[Concordian Stock Exchange]]) and the largest card payment manager in the world ([[Plexis]]).
#[[Bingol]], {{Flagcountry|Packilvania}}, is the second most populous city in the world. It is the capital and largest city of the third largest economy in the world and largest country in the world by population and the largest developing national economy in the world. It is the home of the [[Packilvanian Central Bank]], which issues the [[Packilvanian dinar]] (a beta world reserve currency). It is also the home of some of the largest banks in the world: the [[Industrial and Commercial Bank of Packilvania]], the [[Agricultural Bank of Packilvania]], and the [[Export-Import Bank of Packilvania]].
===Beta Global Centres===
Centers of secondary global influence are as follows:
#[[Tarov]], {{Flagcountry|Tivot}}, is the [[Tivot Sandwich|largest conduit offshore financial center]] (colloquially known as a tax haven) in the world and the home of the most powerful central bank in the world, the [[Auroran Central Bank]], which issues one of two alpha world reserve currencies: the [[Kirib]] (which is the largest multi-national currency in the world).
#Leidenstad, {{Flagicon image|CryriaFlag.png}} [[Cryria]], is the home of the largest inter-bank transfer network in the world, the International Banking Exchange Cooperative and a major financial centre in the [[League of Novaris]] (which despite not being monetary union or free trade area, is the second largest economic bloc in the world).
#[[Osfjord]], {{Flagcountry|Norgsveldet}}, is the home of the North Concordian Bank, which issues the second most used multi-national currency in the world, the United Krone (which is a beta world reserve currency). It is a major financial centre in the second largest free trade area in the world, the [[North Concordian Economic Forum]].
=== Regional Financial Centres ===
In no particular order, the following cities exert considerable influence over the regional economies they are located in:
* [[Volkgoroda]], {{Flagcountry|Volkia}}
* Astryon, {{Flagicon image|FPS Flag.png}} [[Free Pax States]]
* Eldura, {{Flagcountry|Vekaiyu}}
* Stromharad, {{Flagcountry|Asendavia}}
* Cynebury, {{Flagcountry|Tretrid}}
* [[Nuvrenon]], {{Flagcountry|Tavaris}}
* Molebaai, {{Flagcountry|Vistaraland}}
* République, {{Flagcountry|Federation of the Southern Coast}}
* [[Aura]], {{Flagicon image|ECFlag.png}} [[Emberwood Coast]]
* Andel, {{Flagcountry|Axdel}}
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* [[Tokapa]], {{Flagcountry|The Oan Isles}}
* [[Privetia Taurillien]], {{Flagicon image|New Leganes flag.png}} [[New Leganes]]
== Reception ==
The Index is generally cited as a useful metric for comparing financial centres and the characteristics and policies that set them apart from their peers. It also helps institutions and governments identify nodes of risk and opportunity in the global financial system. The commentary which accompanies the index is noteworthy for sharing insights into the outcomes presented by different policy decisions and financial circumstances. Nevertheless, the index has been criticised for prejudicing developing countries and discrediting Socialist economies.
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