Jordan

Rank: 25 (new entry)
Per Capita GDP: $3,421
Total Financial Assets: $71.4 billion
Assets per Person: $12,102
Strengths: Commercial access to credit, size of banking industry
Weaknesses: Current account deficit, cost of doing business

Why does Jordan place higher in financial development than such economic powerhouses as No. 26-ranked China and No. 38-ranked India? For one thing, despite having lower per capita GDP and assets than the other top-25 countries, Jordan outperforms both China and India on those measures. It also has well-developed financial services and equity markets, surprising strength in IPOs, and a stable banking system. Overall, the country's institutional and business environments are ranked higher than those of either China or India. But Jordan has an Achilles heel in financial stability—especially the risk of a sovereign debt crisis—that could harm its ranking in the future.