Eurostat unit ID: CLV10_MNAC Eurostat item ID = B1GQ Eurostat country ID: DK Seasonally and calendar adjusted data. Copyright, European Union, http://ec.europa.eu, 1995-2016. Complete terms of use are available at http://ec.europa.eu/geninfo/legal_notices_en.htm#copyright

GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. World Bank national accounts data, and OECD National Accounts data files.

Source ID: labsh When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

Eurostat unit ID: CP_MEUR Eurostat item ID = B1GQ Eurostat country ID: DK Euro/ECU series is expressed in euro from January 1, 1999 till present. Prior to December 31, 1998, synthetic exchange rate of the national currency to European Community Unit (ECU) is used to adjust for market exchange rate movements. Copyright, European Union, http://ec.europa.eu, 1995-2016.Complete terms of use are available at http://ec.europa.eu/geninfo/legal_notices_en.htm#copyright

Source ID: rgdpna When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

Eurostat unit ID: CP_MNAC Eurostat item ID = B1GQ Eurostat country ID: DK Seasonally and calendar adjusted data. Copyright, European Union, http://ec.europa.eu, 1995-2016. Complete terms of use are available at http://ec.europa.eu/geninfo/legal_notices_en.htm#copyright

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Source Code: NY.GDP.MKTP.CD

Total value of all listed shares in a stock market as a percentage of GDP. Value of listed shares to GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is stock market capitalization, P_e is end-of period CPI, and P_a is average annual CPI. End-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF) and annual CPI (IFS line 64..ZF) are from the IMF's International Financial Statistics. Standard & Poor's, Global Stock Markets Factbook and supplemental S&P data) Source Code: GFDD.DM.01

GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Source Code: NY.GDP.PCAP.CD

OECD descriptor ID: NAEXKP01 OECD unit ID: GPSA OECD country ID: DNK All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission.

Eurostat unit ID: CP_MEUR Eurostat item ID = B1GQ Eurostat country ID: DK Seasonally and calendar adjusted data. Euro/ECU series is expressed in euro from January 1, 1999 till present. Prior to December 31, 1998, synthetic exchange rate of the national currency to European Community Unit (ECU) is used to adjust for market exchange rate movements. Copyright, European Union, http://ec.europa.eu, 1995-2016.Complete terms of use are available at http://ec.europa.eu/geninfo/legal_notices_en.htm#copyright

OECD descriptor ID: LORSGPNO OECD unit ID: STSA OECD country ID: DNK All OECD data should be cited as follows: OECD,"Main Economic Indicators - complete database"Main Economic Indicators(database)http://dx.doi.org/10.1787/data-00052-en(Accessed on date)Copyright, 2016, OECD. Reprinted with permission.

OECD descriptor ID: NAEXKP01 OECD unit ID: STSA OECD country ID: DNK All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission.

Copyright, 2016, OECD. Reprinted with permission. All OECD data should be cited as follows: OECD (2010), "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date)

Converted to U.S. dollars using 2011 purchasing power parities. For more information, see https://www.bls.gov/fls/intl_gdp_capita_gdp_hour.htm#technicalnotes. Bureau of Labor Statistics (BLS) has eliminated the International Labor Comparisons (ILC) program. This is the last BLS release of international comparisons of GDP per capita and per hour.

Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. World Bank Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates. Source Indicator: GC.DOD.TOTL.GD.ZS

Copyright, 2016, OECD. Reprinted with permission. All OECD data should be cited as follows: OECD (2010), "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date)

Eurostat unit ID: CLV10_MNAC Eurostat item ID = B1GQ Eurostat country ID: DK Copyright, European Union, http://ec.europa.eu, 1995-2016. Complete terms of use are available at http://ec.europa.eu/geninfo/legal_notices_en.htm#copyright

OECD descriptor ID: NAEXKP02 OECD unit ID: STSA OECD country ID: DNK All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission.

OECD descriptor ID: NAEXKP01 OECD unit ID: GPSA OECD country ID: DNK All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission.

Copyright, 2016, OECD. Reprinted with permission. All OECD data should be cited as follows: OECD (2010), "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date)

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: kg

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: ki

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: kc

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: cg

Cash surplus or deficit is revenue (including grants) minus expense, minus net acquisition of nonfinancial assets. In the 1986 GFS manual nonfinancial assets were included under revenue and expenditure in gross terms. This cash surplus or deficit is closest to the earlier overall budget balance (still missing is lending minus repayments, which are now a financing item under net acquisition of financial assets). World Bank sources: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates. Source Indicator: GC.BAL.CASH.GD.ZS

Source ID: cgdpo When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

Source ID: cgdpe When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: ci

OECD descriptor ID: BPBLTT01 OECD unit ID: STSA OECD country ID: DNK All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission.

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: cgdp

Copyright © 2016, International Monetary Fund. Reprinted with permission. Complete terms of use and contact details are available at http://www.imf.org/external/terms.htm.

Copyright © 2016, International Monetary Fund. Reprinted with permission. Complete terms of use and contact details are available at http://www.imf.org/external/terms.htm.

Copyright © 2016, International Monetary Fund. Reprinted with permission. Complete terms of use and contact details are available at http://www.imf.org/external/terms.htm.

Converted to U.S. dollars using 2011 purchasing power parities. For more information, see https://www.bls.gov/fls/intl_gdp_capita_gdp_hour.htm#technicalnotes. Bureau of Labor Statistics (BLS) has eliminated the International Labor Comparisons (ILC) program. This is the last BLS release of international comparisons of GDP per capita and per hour.

Converted to U.S. dollars using 2011 purchasing power parities. For more information, see https://www.bls.gov/fls/intl_gdp_capita_gdp_hour.htm#technicalnotes. Bureau of Labor Statistics (BLS) has eliminated the International Labor Comparisons (ILC) program. This is the last BLS release of international comparisons of GDP per capita and per hour.

Converted to U.S. dollars using 2011 purchasing power parities. For more information, see https://www.bls.gov/fls/intl_gdp_capita_gdp_hour.htm#technicalnotes. Bureau of Labor Statistics (BLS) has eliminated the International Labor Comparisons (ILC) program. This is the last BLS release of international comparisons of GDP per capita and per hour.

Source ID: pl_gdpo When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

Source ID: pl_c When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

This is the current per capita GDP expressed relative to the United State (US=100) in each year. For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: y2

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: cc

OECD descriptor ID: BPBLSE01 OECD unit ID: STSA OECD country ID: DNK All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database),http://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission.

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: cgnp

Total amount of domestic private debt securities (amounts outstanding) issued in domestic markets as a share of GDP. It covers data on long-term bonds and notes, commercial paper and other short-term notes. Total amount of domestic private debt securities (amounts outstanding) issued in domestic markets as a share of GDP. It covers data on long-term bonds and notes, commercial paper and other short-term notes. Table 16A (domestic debt amount): all issuers minus governments / GDP. End of year data (i.e. December data) are considered for debt securities. GDP is from World Development Indicators. (Bank for International Settlements) Source Code: GFDD.DM.03

Total amount of domestic public debt securities (amounts outstanding) issued in domestic markets as a share of GDP. It covers long-term bonds and notes, treasury bills, commercial paper and other short-term notes. Total amount of domestic public debt securities (amounts outstanding) issued in domestic markets as a share of GDP. It covers long-term bonds and notes, treasury bills, commercial paper and other short-term notes. Table 16A (domestic debt amount): governments / GDP. End of year data (i.e. December data) are considered for debt securities. (Bank for International Settlements) Source Code: GFDD.DM.04

Demand, time and saving deposits in deposit money banks and other financial institutions as a share of GDP. Demand, time and saving deposits in deposit money banks and other financial institutions as a share of GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is demand and time and saving deposits, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF's International Financial Statistics. Financial system deposits (IFS lines 24, 25, and 45); GDP in local currency (IFS line 99B..ZF or, if not available, line 99B.CZF); end-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF); and annual CPI (IFS line 64..ZF). (International Monetary Fund, International Financial Statistics, and World Bank GDP estimates) Source Code: GFDD.DI.08

Ratio of central bank assets to GDP. Central bank assets are claims on domestic real nonfinancial sector by the Central Bank. Claims on domestic real nonfinancial sector by the Central Bank as a share of GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is Central Bank claims, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF's International Financial Statistics. Central Bank claims (IFS lines 12, a-d); GDP in local currency (IFS line 99B..ZF or, if not available, line 99B.CZF); end-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF); and annual CPI (IFS line 64..ZF). (International Monetary Fund, International Financial Statistics, and World Bank GDP estimates) Source Code: GFDD.DI.06

Total assets held by deposit money banks as a share of GDP. Assets include claims on domestic real nonfinancial sector which includes central, state and local governments, nonfinancial public enterprises and private sector. Deposit money banks comprise commercial banks and other financial institutions that accept transferable deposits, such as demand deposits. Claims on domestic real nonfinancial sector by deposit money banks as a share of GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is deposit money bank claims, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF's International Financial Statistics. Deposit money bank assets (IFS lines 22, a-d); GDP in local currency (IFS line 99B..ZF or, if not available, line 99B.CZF); end-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF); and annual CPI (IFS line 64..ZF). (International Monetary Fund, International Financial Statistics, and World Bank GDP estimates) Source Code: GFDD.DI.02

Ratio of outstanding offshore bank loans to GDP. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. Ratio of outstanding offshore bank loans to GDP. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. Offshore bank loan data from October 2008 version of BIS Statistical Appendix Table 7A: External loans and deposits of reporting banks vis-à-vis all sectors. Bank for International Settlements) Source Code: GFDD.OI.09

The financial resources provided to the private sector by domestic money banks as a share of GDP. Domestic money banks comprise commercial banks and other financial institutions that accept transferable deposits, such as demand deposits. Private credit by deposit money banks and other financial institutions to GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is credit to the private sector, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF's International Financial Statistics. Private credit by deposit money banks (IFS line 22d and FOSAOP); GDP in local currency (IFS line NGDP); end-of period CPI (IFS line PCPI); and average annual CPI is calculated using the monthly CPI values (IFS line PCPI). (International Monetary Fund, International Financial Statistics, and World Bank GDP estimates) Source Code: GFDD.DI.01

Ratio of assets of pension funds to GDP. A pension fund is any plan, fund, or scheme that provides retirement income. Ratio of assets of pension funds to GDP. A pension fund is any plan, fund, or scheme that provides retirement income. Data taken from a variety of sources such as OECD, AIOS, FIAP and national sources. (World Bank - Non banking financial database) Source Code: GFDD.DI.13

Note: Over GDP, 1 US dollar (US$) = 1 international dollar (I$). Purchasing power parity is the number of currency units required to buy goods equivalent to what can be bought with one unit of the base country. We calculated our PPP over GDP. That is, our PPP is the national currency value of GDP divided by the real value of GDP in international dollars. International dollar has the same purchasing power over total U.S. GDP as the U.S. dollar in a given base year. For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: ppp

Worker for this variable is usually a census definition based of economically active population. For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: rgdpwok

Amount of international debt securities (amounts outstanding), as a share of GDP. It covers long-term bonds and notes and money market instruments placed on international markets. Table 12A (international debt amount: all issuers) / GDP. End of year data (i.e. December data) are considered for debt securities. The figures are deflated using the following methodology: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is the level international public debt, P_e is end-of period CPI, and P_a is average annual CPI. GDP is from World Development Indicators. End-of period CPI is taken from IFS line PCPI month of December (or if not available Q4). Average annual CPI is constructed from the monthly CPI figure taken from IFS line PCPI. Source Code: GFDD.DM.07

Series is obtained by adding up consumption, investment, government and exports, and subtracting imports in any given year. For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: rgdpl

Worker for this variable is usually a census definition based of economically active population. For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: rgdpl2wok

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: rgdpch

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: rgdpl2th

Source ID: rgdpe When using these data in your research, please make the following reference: Feenstra, Robert C., Robert Inklaar and Marcel P. Timmer (2015), "The Next Generation of the Penn World Table" American Economic Review, 105(10), 3150-3182, available for download at www.ggdc.net/pwt For more information, see http://www.rug.nl/research/ggdc/data/pwt/.

For more information and proper citation see http://www.rug.nl/research/ggdc/data/pwt/pwt-7.1 Source Indicator: rgdpl2