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Capital Access Index 2000: Think Locally - Act Globally: Capital Market Restructuring and Sustainable Global Economic Growth
Mar 08, 2000
Glenn Yago, Thomas Hall and Michael Harrington

The Milken Institute 2000 Capital Access Index (CAI) scores the ability of entrepreneurs to gain access to financial capital in countries around the world.

This paper also looks at the development models and the global financial architecture that infused policy and strategy for the past decades are obsolete. The structure of financial institutions and multilateral financial agencies that sustained those models are likewise outmoded. Future demand for finished manufactured goods targeted to developed markets will be insufficient to sustain long-term recovery and growth in the emerging economies.

Developing internal market demand through income and wealth generation as a result of broader access to private long-term capital is critical to sustainable growth. Statist versus entreprenuerial models of finance are at the crux of the global policy debate at hand.