The Milken Institute, founded by Michael Milken the “Junk Bond King” and real life Gordon Gekko, in an effort not to be referred to as the “Junk Bond King” or real life Gordon Gekko, released an interesting research report on the state of capital access across 122 countries. The research looks at a bunch of factors like interest rates, equity markets, venture capital and the access to credit cards (the fuel of a million start-ups) and comes up with a ranking for each of the 122 countries. In the Top 10 are several countries most American’s couldnt find on a map, including the UK, Singapore, and Canada. I would have included the US in that list except it didnt make the Top 10 ranking in 2007.
Thats right, according to the report, America now ranks 11th in the world in terms of its financial infrastructure for entrepreneurial activity. The report cites volatile interest rates and inflation as the main reasons for the US drop from 5th place in 2006 to 11th in 2007. Big winners in this years ranking include Hong Kong, which help on to the number spot, Ireland (6) and Sweden (5).