Conduits of Capital

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In order to discover the factors that can be influenced by policymakers and which have a strong impact on the GFCI rating, we examine in the following appendix the 60 instrumental factors that are most highly correlated with the GFCI 16 ratings. We have grouped these instrumental factors into five areas of competitiveness—Business Environment, Financial Sector Development, Infrastructure, Human Capital, and Reputational and General Factors. 6.3 Appendix C – Group Performance in the Instrumental Factors The following table is a summary of performance in the 60 most influential instrumental factors. The table shows how centres are ranked relative to each other in each separate instrumental factor (e.g., in the Banking Industry Country Risk Assessments measure, Busan is 1 st (top) amongst the peer group centres; Doha, Johannesburg and Tel Aviv are tied for 2 nd ). Key: (Casablanca (CA), Busan (BU), Doha (DO), Dubai (DU), Istanbul (IS), Johannesburg (JB), Port Louis (PL), and Tel Aviv (TA)) Instrumental Factor CA* BU DO DU IS JB PL TA 1. City Global Image 1 2. Banking Industry Country Risk Assessments 7 1 =2 =5 =5 =2 =2 3. Global City Competitiveness 4 2 1 6 5 3 4. Global Power City Index 1 5. Financial Secrecy Index 3 5 2 4 1 6. World Competitiveness Scoreboard 4 2 1 5 6 3 7. Global Competitiveness Index 8 3 1 2 5 7 6 4 8. Office Occupancy Costs 5 2 4 1 3 9. Liner Shipping Connectivity Index 3 1 2 4 6 5 10. Global Cities Index 6 5 1 2 4 3 11. FDI Confidence 1 3 2 12. Connectivity 3 =1 =1 13. IPD Global Property Index 2 1 14. Business Environment Rankings 7 3 2 4 5 6 1 15. Citywide CO 2 Emissions 16. Securitisation 1 17. Institutional Effectiveness 1 6 2 5 3 4 18. Office Space Around the World 4 5 3 1 2 19. Innovation Cities Global Index 6 =3 5 =1 =3 7 8 =1 20. Capitalisation of Stock Exchanges 7 1 4 6 5 2 8 3 21. Total Net Assets of Mutual Funds 1 3 2 22. Foreign Direct Investment Inflows 6 3 8 4 1 5 7 2 23. Citizens Domestic Purchasing Power 4 1 5 2 3 24. City GDP Figures 6 2 5 1 4 3 25. Quality of Roads 8 2 3 1 =4 =4 7 6 26. Value of Share Trading 7 1 6 4 3 2 8 5 27. Top Tourism Destinations 1 3 4 2 28. Number of International Fairs and Exhibitions 5 1 7 4 2 3 8 6 29. Global Enabling Trade Report 6 =3 2 1 7 8 =3 =3 30. Number of Greenfield Investments 1 31. Number of High Net Worth Individuals 2 1 3 4 140 |
Instrumental Factor CA* BU DO DU IS JB PL TA 32. Volume of Stock Options Trading 3 1 2 33. Volume of Share Trading 7 1 6 5 2 3 8 4 34. City Global Appeal 6 5 2 1 3 4 35. Price Levels 2 5 3 1 4 36. Political Risk 7 2 3 4 6 5 1 8 37. Quality of Ground Transport Network 7 2 4 1 3 8 =5 =5 38. Global Information Technology 8 1 3 4 6 7 5 2 39. Capital Access Index 6 1 2 5 4 3 40. Global Talent Index 2 4 3 1 41. Tax as Percentage of GDP 6 2 1 4 7 3 5 42. Infrastructure 3 2 1 43. Physical Capital 3 4 2 6 5 1 44. Spatial Adjusted Liveability Index 3 2 1 45. Metro Network Length 1 3 2 46. Projected City Economic Growth 2010-2025 1 2 3 47. Wage Comparison Index 1 5 2 3 4 48. Human Capital 5 =2 1 6 =2 4 49. IT Industry Competitiveness 8 1 3 4 6 7 5 2 50. Net External Positions of Banks 4 2 3 6 1 7 5 8 51. Operational Risk Rating 8 5 1 4 7 6 2 3 52. Global Intellectual Property Index 1 4 3 2 53. Global Innovation Index 8 2 4 3 7 6 5 1 54. GDP per Person Employed 7 2 4 6 3 5 1 55. Ease of Doing Business Index 8 1 6 3 7 5 2 4 56. Commodity Futures Notional Turnover 3 2 1 57. Digital Economy Rankings 1 3 5 4 2 58. Regulatory Enforcement =3 1 2 =3 5 59. Commodity Options Notional Turnover 1 60. Open Government 4 2 1 5 6 3 Please note that a full list of all Instrumental Factors, together with details of their providers and web links where applicable, is available in the GFCI 16 report. Conduits of Capital – Onshore Financial Centres and Their Relevance to African Private Equity | 141
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Conduits of Capital Onshore Financi
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TABLE OF CONTENTS I. FOREWORD .....
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predictable, legal systems that res
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works and that everyone loves.” D
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Because of the fragmented nature of
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Industry Views: EMPEA 2015 African
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EXECUTIVE SUMMARY In April 2015, FS
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INTRODUCTION Across the emerging ma
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As a general rule, GPs tend to foll
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“Offshore” refers to a jurisdic
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expressed by GPs). Over 61% of GP r
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“The industry has found a very sa
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INDUSTRY ATTITUDES TOWARD ONSHORE A
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A RANKING OF ONSHORE FUND DOMICILES
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Conduits of Capital - Onshore Finan
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WHAT COULD MAKE ONSHORE SUB-SAHARAN
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“Other” actions include: “rem
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“ STAKEHOLDER VIEWS ON THE RELATI
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APPENDIX 1 - DETAILS ON SURVEY PART
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Expert Perspectives: Onshore Financ
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Experts were asked to make recommen
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Table 2 - Prerequisites for a succe
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3. FINDINGS 3.1 Evolution and Compa
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particular jurisdiction (communicat
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that it is obvious: a well-function
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• The development of an onshore f
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amined the impact that venture capi
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4.1. Where do Private Equity Fund M
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in absolute terms, or relative to t
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average. With respect to regulatory
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For future research, it is importan
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ENDNOTES 1 World Bank Enterprise Su
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33 African Development Bank. Maurit
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71 Unfortunately, the DTAAs lists b
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The financial activities carried in
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The OECD has reviewed over 100 juri
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Importance of Domestic Flows The re
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Rwanda is not included in any of th
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Other possible contenders may emerg
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APPENDIX 1: LISTING OF COUNTRIES IN
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Country / Territory Palau Listed by
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Country Mauritius Morocco 16 Nigeri
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Onshore Options for Africa-focussed
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Developing skills in these areas re
Page 89 and 90: 2.2 Policy Issues Related to Onshor
Page 91 and 92: • Good accessibility. Good commun
Page 93 and 94: 4. ROLE OF DONORS AND TECHNICAL ASS
Page 95 and 96: Thus, while some PE general partner
Page 97 and 98: management extends to monitoring co
Page 99 and 100: ANNEX 1: CATALOGUE OF FINANCIAL CEN
Page 101 and 102: Dublin Mauritius Dubai Botswana Cap
Page 103 and 104: To some extent, policymakers also n
Page 105 and 106: In administrative financial centres
Page 107 and 108: services industry. However, recent
Page 109 and 110: gains, even if it involves offshore
Page 111 and 112: ather than an onshore centre that i
Page 113 and 114: generally look to London or in some
Page 115 and 116: Onshore Options for Africa-focussed
Page 117 and 118: whether it is ‘Local,’ ‘Trans
Page 119 and 120: are suited to particular financial
Page 121 and 122: In GFCI 16, only three African cent
Page 123 and 124: The ‘stable’ centres in the bot
Page 125 and 126: GFCI 16 Investment Management Centr
Page 127 and 128: Professional service providers tend
Page 129 and 130: Busan and Doha have been advancing
Page 131 and 132: Zambia and Zimbabwe, the report not
Page 133 and 134: Get Connected - Ease Scaling Up In
Page 135 and 136: Financial centres are added to the
Page 137 and 138: The SVM then uses the data to predi
Page 139: Instrumental Factor Country or City
Page 143 and 144: Open Government The World Justice P
Page 145 and 146: Securitisation TheCityUK http://www
Page 147 and 148: Human Capital Instrumental Factor S
Page 149 and 150: Global City Competitiveness EIU htt
Page 151 and 152: 6.4 Appendix D - Group Respondent P
Page 153 and 154: Dubai Istanbul Conduits of Capital
Page 155 and 156: 6.5 Appendix E - Country Summary Ov
Page 157 and 158: Uganda 26.086 33,800,000 772 Kampal
Page 159 and 160: Page intentionally left blank Condu
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