International Financial Centres Index: Difference between revisions
International Financial Centres Index (view source)
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{{WIP}}
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.
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== 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==
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Centers of secondary global influence are as follows:
*Molebaai, {{Flagcountry|Vistaraland}}, is the economic centre of a transcontinental country that occupies an important economic role in the [[North Concordian Economic Forum]], in which it is the largest city by population.▼
=== Regional Financial Centres ===
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*Sigested, {{Flagcountry|Tretrid}}, is the financial and economic centre of one of the most influential and economically relevant countries in the [[League of Novaris]]
*[[Nuvrenon]], {{Flagcountry|Tavaris}}, is arguably the economic centre of the [[Tavari Union]] and exerts influence in the [[Council of Gondwana]]
▲*Molebaai, {{Flagcountry|Vistaraland}}, is the economic centre of a transcontinental country that occupies an important economic role in the [[North Concordian Economic Forum]]
*République C.D, {{Flagcountry|Federation of the Southern Coast}}, is the political centre of the third largest monetary union in the world [[Red Crown Economic Union]].
*Leidenstad, {{Flagicon image|CryriaFlag.png}} [[Cryria]], is the home of the largest inter-bank transfer network in the world, the [[International Banking Exchange Cooperative]]. Through Cryria's political stability, extensive economic ties, and prudent economic policies, is a major financial centre in the [[League of Novaris]]
*[[Aura]], {{Flagicon image|ECFlag.png}} [[Emberwood Coast]], is the political capital of the [[United Nations of the Auroran Continent]] and the second-largest city in [[Aurora]] by population and GVA
*Andel, {{Flagcountry|Axdel}}, is the capital of the second largest economy in [[Aurora]]
*[[Tokapa]], {{Flagcountry|The Oan Isles}}, is the home of the [[Auroran Monetary Fund]] (one of the largest development finance and trade balance institutions in the world), and it is home to the largest professional services network in the world ([[Ita Marama]]), and houses prominent financial institutions such as the [[Standard National Bank]] and financial technology companies like [[Café Pay]]
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==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. Some analysts have argued that the criteria for inclusion on the index as an influential offshore financial centre are often routed in capitalist neoliberal economic thinking that prioritises an excessive focus on trade and financial liberalisation at the expense of robust financial, and environment controls and fail to consider the social, political and environmental factors that these centres bring. Others have criticised the CFI for its placement of cities with some arguing that certain cities should be ranked higher, or lower, added and removed altogether.
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