TABLE 10.2 The importance of public debt markets in the economy (end-2011 data) Market value of (bank-owned) public corporate debt securities as a percentage of GDP Country Belgium 12.7% Denmark 5.7% Finland 15.5% France 27.4% Germany Italy 14.7% 21.2% Netherlands 25.7% Portugal Spain Sweden 26,7% 3.3% 15.7% Switzeriand 8.6% UK 14.2%

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TABLE 10.2 The importance of public debt markets in the economy (end-2011 data)
Market value of (bank-owned) public corporate
debt securities as a percentage of GDP
Country
Belgium
12,7%
Denmark
5.7%
Finland
15.5%
France
27.4%
Germany
Italy
Netherlands
14.7%
21.2%
25.7%
Portugal
Spain
26,7%
3.3%
Sweden
15.7%
Switzerland
8.6%
UK
14.2%
Source International Banking Statistics of the Bank for International Settlements
From the figure above, how would you explain the heterogeneity in the ratio of public corporate debt to GDP across Europe?
Transcribed Image Text:TABLE 10.2 The importance of public debt markets in the economy (end-2011 data) Market value of (bank-owned) public corporate debt securities as a percentage of GDP Country Belgium 12,7% Denmark 5.7% Finland 15.5% France 27.4% Germany Italy Netherlands 14.7% 21.2% 25.7% Portugal Spain 26,7% 3.3% Sweden 15.7% Switzerland 8.6% UK 14.2% Source International Banking Statistics of the Bank for International Settlements From the figure above, how would you explain the heterogeneity in the ratio of public corporate debt to GDP across Europe?
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