Sunday, November 20, 2005

Articles: Best markets for entrepreneurs; hedge funds

Which countries have the best markets for entrepreneurs?

According to the 2005 Milken Institute Capital Access Index, released today, it’s the United Kingdom, which tops the ranking for the first time. Hong Kong, last year’s number one, dropped to second this year, followed by Singapore and the United States.

Started in 1998, the Index is a comprehensive analysis of the breadth, depth and vitality of capital markets around the world. It is based on the simple premise, but complex measurements, showing that efficient financial markets – making capital accessible to the entrepreneurs who can use it to grow and sustain companies and generate jobs – are the key for long-term growth and reducing poverty and income polarization.


The Top 10 markets (with 2004 ranking)

1. United Kingdom (3)

2. Hong Kong (1)
3. Singapore (2)
4. United States (6)
5. Sweden (4)
6. Denmark (9)
7. Australia (7)
8. Norway (13)
9. Finland (5)
10. (tie) Canada (10)
10. (tie) Ireland (11)

This year’s index expands coverage from 88 to 121 countries representing 92 percent of global GDP, ranking them on more than 50 measurements, from the strength of their banking systems and the diversity and efficiency of financial markets to general economic conditions.

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Finance and Investment
From Wall Street to Beijing: Global Finance Has New Rules, New Players The rising power of hedge funds and private equity investment, continued sharp competition among Wall Street firms, and growth in China and India are the key drivers of global finance today, according to industry leaders at a recent Wharton Finance Conference. Participants also discussed the rise in hostile takeovers, increased activism on the part of boards of directors and new investment opportunities in Latin America.Linking up a Hedge Fund, a Revolution and the Fall of the Berlin Wall The collapse of Long-Term Capital Management, The Orange Revolution in Ukraine, and the unification of East and West Germany all caught corporate executives by surprise and revealed the links between global change and business opportunity, according to members of the board of governors of the Joseph H. Lauder Institute of Management and International Studies at Wharton. In the future, China, India and Eastern Europe are likely to play major roles in the development of international business, they said during a recent panel discussion titled, Understanding Global Linkages: Lessons from Recent Events.http://knowledge.wharton.upenn.edu/article/1312.cfm

Larry KehresMount Union Collge
Division III
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