Abu Dhabi's 'New York' Launches Global Financial Competitiveness Institute

NYU Abu Dhabi's Stern Business School just launched the Global Financial Competitiveness Institute, a new research center that uses data science to study and rank international financial hubs worldwide. The institute has backing from Ray Dalio, the billionaire investor who founded Bridgewater Associates and has spent decades analyzing global economic systems.

The institute brings together an international team of researchers and advisors based at NYU Abu Dhabi's campus. Dalio's involvement adds serious weight to the project - he's known for his deep research into how global financial systems work and change over time. His support signals that this institute aims to produce influential research on international finance.

The research will focus on how the global economic system is evolving, particularly looking at the role different financial centers play around the world. This comes at a time when traditional financial hubs like New York and London face growing competition from centers in Asia and the Middle East.

Ahmed Jasim Al Zaabi, who heads Abu Dhabi's Department of Economic Development, called the institute's launch a pivotal moment for using data science to understand how financial centers really stack up against each other globally. Abu Dhabi has been working to position itself as a major financial hub in the region, competing with Dubai and other Middle Eastern centers.

For investors and financial institutions, this research could provide valuable insights into which markets are gaining or losing ground. The institute's data-driven approach might offer a clearer picture than existing rankings, which sometimes rely on subjective measures or outdated criteria.

Robert Salomon, dean of NYU Stern Abu Dhabi, said the institute fits with the school's mission to research and teach about issues that matter for global economic growth and development. The timing makes sense - as economic power shifts globally, understanding which financial centers are rising or declining becomes more important for businesses and governments making strategic decisions.