Financial Ethics Index (FEI)
QLM-FE covers 115 countries and measures factors that have a direct influence on meeting international obligations but cannot be assessed through regularly published statistics.  The structure of QLM-FE and the criteria are identified below:

The Expert Opinion.
Please refer to the Explanation of the Criteria page for a more complete description of the methodology.  BERI S.A.’s exclusive panels of professionals with financial responsibilities and many years of experience in a region of the world submit their assessments for QLM-FE each year.  Senior staff members of the firm also enter their viewpoint.

This combination of judgment and perspective by a statistically relevant number of experts greatly increases the accuracy of the average rating.  (The highest and lowest ratings are automatically discarded to moderate opinion.) 

Considerable research has been undertaken in 2003 to support the contributing panel members and senior staff making the subjective assessments.  A version of the Delphi technique is used to obtain convergence within panel and staff ratings for the 115 countries.

The Original QLM-FE Study.
In December 2000 QLM-FE was ordered by the Research Department of the International Bank for Reconstruction and Development (World Bank).  The ratings were being used for internal projects.  It was agreed that this multi-client report would provide criteria ratings for each of the 115 countries for the years 1985, 1990, 1995, and 1997-2000.

Country List for QLM-FE:

	Algeria Angola Argentina Armenia Australia Austria Azerbaijan Bahrain Bangladesh Belgium Bolivia Brazil Bulgaria Cambodia Canada Chile China (P.R.C.) Colombia Congo, Democratic   Republic of Congo, Republic of Costa Rica Croatia Cuba Cyprus Czech Republic Denmark Dominican Republic Ecuador	Egypt Estonia Finland France Gabon Georgia Germany Ghana Greece Guatemala Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakstan Kenya Korea (R.O.K.) Kuwait Kyrgyz Republic	Lao, People's   Democratic Republic Latvia Lebanon Libya Lithuania Malawi Malaysia Mauritius Mexico Moldova Morocco Mozambique Nepal Netherlands New Zealand Nigeria Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Romania Russia	Saudi Arabia Senegal Singapore Slovak Republic Slovenia Spain Sri Lanka Sweden Switzerland Syria Taiwan (R.O.C.) Tanzania Thailand Trinidad & Tobago Tunisia Turkey Turkmenistan Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Venezuela Vietnam Yemen Zambia Zimbabwe

Structure of this Report. 
The details for each country in the primary QLM-FE file are linked to separate Excel files (Office 2000) for each of the eleven criteria. 

This gives divisions by alphabetical order and by ranking for any year. Almost any combination of tables and graphics can be published from these computer programs.

Both the E-mail attachment and CD-ROM methods of delivering the report have a Guide to the Files.  This explains what is in each file, including worksheets that have the alphabetical listings and rankings for QLM-FE and for each criterion.

			Weighting
	Level of resolve toward honoring international obligations		3.0
	Foreign loan structure and terms:
		Range, concessionary to short term	2.0
		Current market terms	1.0
	Corruption in financial transactions:
		Direct fraud	2.0
		Indirect diversion of funds	1.5
	Concessionary loans and grants:
		Level of access	1.5
		Influence of strategic importance	1.5
	Net technocratic competence:
		Overall assessment	2.5
		Political interference	1.5
	Legal framework:
		Convertibility for principal, interest,fees	2.0
		Taxation constraints	1.5
	The 11 criteria listed above have a weighted total of 20. Each criterion is rated from 5 (best case) to zero (worst case). Therefore, a perfect country would receive a score of 100 (20 x 5).

Click Here to order your copy of QLM-FE