From Global Financial Development Database 73517 The Little Data Book on 13 Financial Development Depth—Financial Institutions Ef�ciency—Financial Institutions Depth—Financial Markets Ef�ciency—Financial Markets Access—Financial Institutions Stability—Financial Institutions Access—Financial Markets Stability—Financial Markets 2013 THE LITTLE DATA BOOK ON FINANCIAL DEVELOPMENT Copyright © 2013 by the International Bank for Reconstruction and Development/THE WORLD BANK 1818 H Street, N.W. Washington, D.C. 20433 U.S.A. All rights reserved Manufactured in the United States of America First printing October 2012 ISBN: 978-0-8213-9754-1 eISBN: 978-0-8213-9755-8 DOI: 10.1596/978-0-8213-9754-1 SKU: 19754 The Little Data Book on Financial Development 2013 is a product of the Development Policy and the Development Data Group of the Development Economics Vice Presidency of the World Bank. Design by Communications Development Incorporated, Washington, D.C. Cover design by Peter Grundy Art & Design, London, U.K. Contents Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iv Foreword. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .v Data notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi Regional tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 World . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 East Asia and Pacific . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Europe and Central Asia. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Latin America and the Caribbean . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Middle East and North Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 South Asia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Sub-Saharan Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Income group tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Low income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Middle income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Lower middle income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Upper middle income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Low and middle income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 High income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Euro area . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Country tables (in alphabetical order) . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Glossary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 The Little Data Book on Financial Development 2013 iii Acknowledgments The Little Data Book on Financial Development 2013 is a part of a broader data-collection effort related to the World Bank’s Global Financial Develop- ment Report 2013. The Little Data Book was prepared under the supervi- ˇ sion of Aslı Demirgüç-Kunt by a team led by Martin Cihák and comprising Subika Farazi, Mauricio Pinzon Latorre, Amin Mohseni-Cheraghlou, Benjamin Levine, and Vin Nie Ong. The team was assisted by Hedia Arbi. In compiling and updating the databases underlying the report, the team built on previ- ous compilation efforts at the World Bank, including the work of Erik Feyen, Katie Kibuuka, Diego Sourrouille, Ed Al-Hussainy, Haocong Ren, and Andrea Coppola. The work was carried out under the oversight of Janamitra Devan, Vice Presi- dent (Finance and Private Sector Development and International Finance Cor- poration), Justin Yifu Lin, former Chief Economist and Senior Vice President (Development Economics), and Martin Ravallion, Acting Chief Economist and Senior Vice President (Development Economics). We thank Erik Feyen, Maria Soledad Martinez Peria, I ˙nci Ötker-Robe, Thorsten Beck, Augusto de la Torre, Stijn Claessens, Roberto Rocha, Tunc Uyanik, Ross Levine, Norman Loayza, Aart Kraay, Sergio Schmukler, Gerard Caprio, Patrick Honohan, Alain Ize, Maya Eden, and participants in a series of seminars organized at the World Bank. Financial support from the State Secretariat for Economic Affairs (Switzer- land) is gratefully acknowledged. The Knowledge for Change program and Research Support Budget provided funding for the related research program in the Development Economics Vice Presidency. Production of this volume was managed by the Development Data Group under the direction of Shaida Badiee, with a team consisting of Azita Amjadi, Liu Cui, Shelley Fu, Mohammed Omar Hadi, Wendy Huang, Buyant Erdene Khaltarkhuu, Alison Kwong, Ibrahim Levent, and William Prince. The book’s design was done by Jomo Tariku based on an original design by Communica- tions Development Incorporated. Typesetting was done by Barton Matheson Willse & Worthington. Staff from External Affairs oversaw publication and dis- tribution of the book. ˇ The reference citation for the data provided in this book is: Martin Cihák, Aslı Demirgüç-Kunt, Erik Feyen, and Ross Levine, 2012 “Benchmarking Finan- cial Systems Around the World.� World Bank Policy Research Working Paper ˇ 6175, World Bank, Washington, D.C. (hereafter Cihák, Demirgüç-Kunt, Feyen and Levine, 2012) iv 2013 The Little Data Book on Financial Development Foreword The Little Data Book on Financial Development 2013 is a pocket edition of the Global Financial Development Database published as part of the work on the Global Financial Development Report 2013: Rethinking the Role of the State in Finance. The Global Financial Development Database is an extensive dataset of fi- nancial system characteristics for 203 economies. The database includes measures of (1) size of financial institutions and markets (financial depth), (2) degree to which individuals can and do use financial services (access), (3)  efficiency of financial intermediaries and markets in intermediating re- sources and facilitating financial transactions (efficiency), and (4) stability of financial institutions and markets (stability). For a complete description of the ˇ dataset and a discussion of the underlying literature, see Cihák, Demirgüç- Kunt, Feyen and Levine, 2012. There is ample evidence on the role financial sector development plays in economic development, poverty alleviation and economic stability. However there are serious shortcomings associated with measuring the concept of the “functioning of the financial system.� Recognizing the need for good data to better understand the concept of financial development, the World Bank’s Financial and Private Sector Vice Presidency and Development Economics Vice Presidency have recently launched a Global Financial Development Database, an extensive worldwide database that combines and updates sev- eral financial data sets. The data highlight the multi-dimensional nature of financial systems. Deep financial systems do not necessarily provide high degrees of financial access; highly efficient financial systems are not necessarily more stable than the less efficient ones, and so on. Each of these characteristics has an associa- tion with aspects of the broader socio-economic development, and each is, in turn, strongly associated with financial sector policies and other parts of the enabling environment for finance. The data also demonstrate the effects of the global financial crisis. The crisis not only increased financial instability but also translated into difficulties along other dimensions, such as increasing problems of access to financial services. A basic comparison of data confirms that while financial systems in develop- ing economies tend to be less deep, provide less access, and are somewhat less efficient, their stability has been comparable to financial systems in de- veloped countries in recent years. For instance, the average depth of financial institutions’ (measured as Private Credit to Gross Domestic Product (GDP)) and markets (measured as Stock Market Capitalization plus Outstanding Do- mestic Private Debt Securities to GDP) in developed economies is more than twice of that in developing economies. However in terms of stability of finan- cial institutions (measured by the Z-score), on average, the banking systems in developing economies are less volatile than in developed economies. The level of stability of financial markets (measured as the asset price volatility) is similar, on average, for both developed and developing economies. The Little Data Book on Financial Development 2013 v Data notes The data in this book are for 2000, 2005, and 2010. Figures in italics indi- cate data for years other than those specified. Symbols used: .. indicates that data are not available or that aggregates cannot be calculated because of missing data 0 or 0.0 indicates zero or small enough that the number would round to zero at the displayed number of decimal places $ indicates current U.S. dollars Data are shown for economies with population greater than 30,000 or for smaller economies if they are members of the World Bank. The term country (used interchangeably with economy) does not imply political independence or official recognition by the World Bank but refers to any economy for which the authorities report separate social or economic statistics. Aggregate data for ratios, shares, and percentage rates are medians. The selection of indicators in these pages includes some of those being part of the Global Financial Development Database (GFDD). For more information about the GFDD and the Global Financial Development Report please see ˇ Cihák, Demirgüç-Kunt, Feyen and Levine, 2012 and visit http://worldbank .org/financialdevelopment, http://data.worldbank.org/data-catalog/global- financial-development, and http://databank.worldbank.org/. An important part of the financial inclusion data in GFDD comes from the Global Findex database (for more information please see Demirgüç-Kunt, Asli and Leora Klapper, 2012 “Measuring Financial Inclusion: The Global Findex Database.� World Bank Policy Research Working Paper 6025, World Bank, Washington, D.C., hereafter Demirgüç-Kunt and Klapper, 2012). Indicators with underlying data from Demirgüç-Kunt and Klapper (2012) are reported only for the year 2010 as the Global Findex database represents the first round of data collection done in 2011. Indicators with underlying data from Bankscope—Bureau Van Dijk are con- structed using bank-by-bank unconsolidated data. These indicators will be updated throughout the year to reflect Bankscope updates. vi 2013 The Little Data Book on Financial Development Regional tables The country composition of regions is based on the World Bank’s analytical regions and may differ from common geographic usage. The regions exclude high income economies. East Asia and Paci�c Cambodia, China, Fiji, Indonesia, Kiribati, Korea, Dem. Rep., Lao People’s Democratic Republic, Malaysia, Marshall Islands, Micronesia, Fed. Sts., Mongolia, Myanmar, Palau, Papua New Guinea, Philippines, Samoa, Solomon Islands, Thailand, Timor-Leste, Tuvalu, Tonga, Vanuatu, Vietnam Europe and Central Asia Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Georgia, Kazakhstan, Kosovo, Kyrgyz Republic, Latvia, Lithuania, Former Yugoslav Republic of Macedonia, Moldova, Montenegro, Romania, Russian Federation, Serbia, Tajikistan, Turkey, Turkmenistan, Ukraine, Uzbekistan Latin America and the Caribbean Antigua and Barbuda, Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, St. Lucia, St. Vincent and the Grenadines, Suriname, Uruguay, República Bolivariana de Venezuela Middle East and North Africa Algeria, Djibouti, Arab Republic of Egypt, Islamic Republic of Iran, Iraq, Jordan, Lebanon, Libya, Morocco, Syrian Arab Republic, Tunisia, West Bank and Gaza, Republic of Yemen South Asia Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka Sub-Saharan Africa Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Republic of Congo, Côte d’Ivoire, Eritrea, Ethiopia, Gabon, The Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Rwanda, São Tomé and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Sudan, Swaziland, Tanzania, Togo, Uganda, Zambia, Zimbabwe The Little Data Book on Financial Development 2013 1 World Gross domestic product ($ billions) 63,134.7 Gross national income ($ billions) 63,149.0 Population (millions) 6,894.4 Inflation (%) 3.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 26.6 26.8 40.8 Deposit money bank assets to GDP (%) 33.3 37.0 50.6 Non-bank financial institutions’ assets to GDP (%) 6.6 6.0 0.7 Depth—Financial Markets Stock market capitalization to GDP (%) 31.3 33.7 38.5 Stock market total value traded to GDP (%) 5.2 4.7 4.2 Outstanding domestic private debt securities to GDP (%) 17.7 19.0 22.4 Outstanding domestic public debt securities to GDP (%) 24.5 31.6 31.7 Outstanding international debt securities to GDP (%) 11.1 11.0 14.1 Access—Financial Institutions Bank accounts per 1,000 adults 10 354 812 Bank branches per 100,000 adults 2.4 11.3 16.6 Firms with line of credit to total firms (all firms) (%) .. 34.4 48.6 Small firms with line of credit to total small firms (%) .. 23.3 33.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 38.6 Adults saving at a fin. inst. to total adults (%) .. .. 13.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 48.5 52.2 50.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 45.3 47.6 50.5 Corporate bonds to total bonds and notes outstanding (%) 35.1 34.5 39.6 Efficiency—Financial Institutions Net interest margin (%) 2.9 2.9 3.0 Lending-deposit spread (%) 7.0 6.5 6.3 Non-interest income to total income (%) 36.3 39.9 35.9 Overhead costs to total assets (%) 3.4 2.9 2.8 Return on average assets (%) 1.0 1.4 1.1 Return on average equity (%) 12.5 15.5 11.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 20.7 24.5 20.1 Stability—Financial Institutions Bank Z-score 16.7 15.5 17.5 Bank non-performing loans to gross loans (%) .. 3.5 4.1 Bank capital to total assets (%) .. 8.5 9.3 Bank credit to bank deposits (%) 82.7 80.3 83.2 Regulatory capital to risk-weighted assets (%) .. 14.6 16.0 Liquid assets to deposits and short term funding (%) 39.2 37.8 30.6 Stability—Financial Markets Volatility of stock price index 25.8 17.7 30.5 Other Indicators—Financial Institutions Bank concentration (%) 68.7 63.2 62.8 Bank deposits to GDP (%) 32.5 35.2 55.5 H-statistic .. .. 0.7 Lerner index 0.21 0.25 0.27 Boone indicator –0.06 –0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.13 0.11 0.10 2 2013 The Little Data Book on Financial Development East Asia & Pacific Gross domestic product ($ billions) 7,636.4 Gross national income ($ billions) 7,616.2 Population (millions) 1,961.1 Inflation (%) 3.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 29.2 29.2 40.1 Deposit money bank assets to GDP (%) 33.6 37.0 46.1 Non-bank financial institutions’ assets to GDP (%) 6.5 7.6 3.4 Depth—Financial Markets Stock market capitalization to GDP (%) 34.6 32.1 60.3 Stock market total value traded to GDP (%) 20.5 5.1 17.5 Outstanding domestic private debt securities to GDP (%) 7.1 10.7 18.8 Outstanding domestic public debt securities to GDP (%) 24.5 27.9 29.5 Outstanding international debt securities to GDP (%) 11.3 6.5 4.3 Access—Financial Institutions Bank accounts per 1,000 adults .. 358 488 Bank branches per 100,000 adults 4.7 8.4 7.9 Firms with line of credit to total firms (all firms) (%) .. .. 43.0 Small firms with line of credit to total small firms (%) .. .. 29.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 26.8 Adults saving at a fin. inst. to total adults (%) .. .. 19.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 16.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 36.4 28.8 38.1 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 50.3 52.9 59.4 Corporate bonds to total bonds and notes outstanding (%) 39.4 34.7 26.6 Efficiency—Financial Institutions Net interest margin (%) 2.4 3.0 2.7 Lending-deposit spread (%) 6.0 5.5 6.9 Non-interest income to total income (%) 28.1 27.9 28.2 Overhead costs to total assets (%) 2.0 2.2 1.9 Return on average assets (%) 1.0 1.2 1.2 Return on average equity (%) 9.5 14.2 14.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 31.0 24.8 29.9 Stability—Financial Institutions Bank Z-score 22.4 17.4 21.3 Bank non-performing loans to gross loans (%) .. 9.1 3.4 Bank capital to total assets (%) .. 9.0 11.3 Bank credit to bank deposits (%) 67.2 75.0 82.2 Regulatory capital to risk-weighted assets (%) .. 13.7 17.0 Liquid assets to deposits and short term funding (%) 26.3 31.7 34.8 Stability—Financial Markets Volatility of stock price index 39.5 22.0 29.1 Other Indicators—Financial Institutions Bank concentration (%) 73.5 61.2 44.5 Bank deposits to GDP (%) 31.9 35.6 31.4 H-statistic .. .. 0.7 Lerner index 0.20 0.29 0.32 Boone indicator –0.03 –0.04 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.04 0.03 0.03 The Little Data Book on Financial Development 2013 3 Europe & Central Asia Gross domestic product ($ billions) 3,063.3 Gross national income ($ billions) 2,963.4 Population (millions) 405.7 Inflation (%) 6.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 9.1 18.4 39.4 Deposit money bank assets to GDP (%) 14.2 24.9 49.9 Non-bank financial institutions’ assets to GDP (%) 1.2 1.3 0.2 Depth—Financial Markets Stock market capitalization to GDP (%) 5.4 13.5 19.1 Stock market total value traded to GDP (%) 1.4 1.8 1.0 Outstanding domestic private debt securities to GDP (%) 0.0 0.0 0.2 Outstanding domestic public debt securities to GDP (%) 9.3 20.3 17.8 Outstanding international debt securities to GDP (%) 6.7 6.0 6.9 Access—Financial Institutions Bank accounts per 1,000 adults .. 811 894 Bank branches per 100,000 adults .. 11.3 18.1 Firms with line of credit to total firms (all firms) (%) .. 43.1 41.8 Small firms with line of credit to total small firms (%) .. 38.5 33.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 44.3 Adults saving at a fin. inst. to total adults (%) .. .. 4.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 43.6 41.4 65.1 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 44.8 49.2 46.4 Corporate bonds to total bonds and notes outstanding (%) 0.0 0.0 1.0 Efficiency—Financial Institutions Net interest margin (%) 3.9 3.4 3.9 Lending-deposit spread (%) 14.8 7.6 6.9 Non-interest income to total income (%) 43.0 42.2 35.1 Overhead costs to total assets (%) 6.4 4.0 3.9 Return on average assets (%) 1.7 1.7 0.8 Return on average equity (%) 14.6 14.2 5.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 14.3 16.3 6.2 Stability—Financial Institutions Bank Z-score 11.2 10.3 10.8 Bank non-performing loans to gross loans (%) .. 2.9 12.2 Bank capital to total assets (%) .. 13.2 13.6 Bank credit to bank deposits (%) 90.9 96.5 247.2 Regulatory capital to risk-weighted assets (%) .. 18.2 17.7 Liquid assets to deposits and short term funding (%) 48.8 41.0 26.3 Stability—Financial Markets Volatility of stock price index 54.8 23.2 35.3 Other Indicators—Financial Institutions Bank concentration (%) 74.4 68.4 59.9 Bank deposits to GDP (%) 11.0 21.8 31.4 H-statistic .. .. 0.6 Lerner index 0.25 0.23 0.23 Boone indicator –0.06 –0.06 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.20 0.13 4 2013 The Little Data Book on Financial Development Latin America & Caribbean Gross domestic product ($ billions) 5,038.6 Gross national income ($ billions) 4,933.1 Population (millions) 582.5 Inflation (%) 3.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 30.9 27.0 32.3 Deposit money bank assets to GDP (%) 37.1 38.5 40.3 Non-bank financial institutions’ assets to GDP (%) 2.5 0.9 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 19.1 23.1 20.3 Stock market total value traded to GDP (%) 0.7 1.1 0.8 Outstanding domestic private debt securities to GDP (%) 4.9 8.4 3.8 Outstanding domestic public debt securities to GDP (%) 11.7 25.1 20.3 Outstanding international debt securities to GDP (%) 9.1 15.9 9.9 Access—Financial Institutions Bank accounts per 1,000 adults .. 433 835 Bank branches per 100,000 adults 18.6 8.3 14.5 Firms with line of credit to total firms (all firms) (%) .. 46.9 49.0 Small firms with line of credit to total small firms (%) .. 39.8 35.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 27.7 Adults saving at a fin. inst. to total adults (%) .. .. 11.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.6 65.2 64.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 44.3 37.5 34.8 Corporate bonds to total bonds and notes outstanding (%) 30.4 29.5 29.7 Efficiency—Financial Institutions Net interest margin (%) 3.9 3.9 4.3 Lending-deposit spread (%) 8.5 7.9 7.4 Non-interest income to total income (%) 28.6 34.8 32.7 Overhead costs to total assets (%) 5.0 4.9 4.4 Return on average assets (%) 1.0 1.6 1.3 Return on average equity (%) 10.8 15.8 14.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 4.0 3.9 4.7 Stability—Financial Institutions Bank Z-score 16.1 15.8 18.5 Bank non-performing loans to gross loans (%) .. 3.1 2.4 Bank capital to total assets (%) .. 10.8 10.1 Bank credit to bank deposits (%) 91.6 76.5 74.6 Regulatory capital to risk-weighted assets (%) .. 15.3 16.4 Liquid assets to deposits and short term funding (%) 25.2 27.4 30.1 Stability—Financial Markets Volatility of stock price index 28.8 21.1 26.1 Other Indicators—Financial Institutions Bank concentration (%) 49.6 56.0 62.2 Bank deposits to GDP (%) 33.1 37.1 26.1 H-statistic .. .. 0.8 Lerner index 0.15 0.23 0.28 Boone indicator –0.08 –0.10 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.04 0.04 0.03 The Little Data Book on Financial Development 2013 5 Middle East & North Africa Gross domestic product ($ billions) 1,204.5 Gross national income ($ billions) 1,331.9 Population (millions) 331.0 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 30.1 20.0 32.3 Deposit money bank assets to GDP (%) 34.7 30.9 64.5 Non-bank financial institutions’ assets to GDP (%) 7.4 4.7 1.5 Depth—Financial Markets Stock market capitalization to GDP (%) 25.3 55.0 39.8 Stock market total value traded to GDP (%) 4.4 11.4 20.9 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. 77.9 Outstanding international debt securities to GDP (%) 7.8 1.4 3.7 Access—Financial Institutions Bank accounts per 1,000 adults 0 301 520 Bank branches per 100,000 adults 12.0 9.6 18.8 Firms with line of credit to total firms (all firms) (%) .. .. 8.1 Small firms with line of credit to total small firms (%) .. .. 5.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 24.4 Adults saving at a fin. inst. to total adults (%) .. .. 5.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.8 45.5 47.5 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 62.8 54.7 42.9 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.0 2.3 2.3 Lending-deposit spread (%) 4.9 5.0 5.0 Non-interest income to total income (%) 24.4 25.0 35.9 Overhead costs to total assets (%) 1.7 1.5 1.6 Return on average assets (%) 0.8 0.6 1.0 Return on average equity (%) 11.5 7.8 11.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 14.1 31.0 21.7 Stability—Financial Institutions Bank Z-score 26.4 20.7 24.0 Bank non-performing loans to gross loans (%) .. 16.4 7.9 Bank capital to total assets (%) .. 7.6 7.9 Bank credit to bank deposits (%) 61.6 37.3 36.9 Regulatory capital to risk-weighted assets (%) .. 13.7 13.4 Liquid assets to deposits and short term funding (%) 42.8 47.3 41.9 Stability—Financial Markets Volatility of stock price index 14.7 21.0 19.2 Other Indicators—Financial Institutions Bank concentration (%) 64.4 61.7 64.7 Bank deposits to GDP (%) 38.6 41.8 70.9 H-statistic .. .. 0.3 Lerner index 0.19 0.42 0.32 Boone indicator –0.04 –0.03 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.06 0.05 6 2013 The Little Data Book on Financial Development South Asia Gross domestic product ($ billions) 2,048.0 Gross national income ($ billions) 2,044.0 Population (millions) 1,632.9 Inflation (%) 7.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 24.6 28.2 38.6 Deposit money bank assets to GDP (%) 31.1 36.6 48.5 Non-bank financial institutions’ assets to GDP (%) .. 0.1 0.8 Depth—Financial Markets Stock market capitalization to GDP (%) 8.7 19.1 28.0 Stock market total value traded to GDP (%) 1.6 3.5 10.2 Outstanding domestic private debt securities to GDP (%) 0.4 0.9 5.0 Outstanding domestic public debt securities to GDP (%) 28.5 30.4 31.1 Outstanding international debt securities to GDP (%) 1.5 1.7 2.3 Access—Financial Institutions Bank accounts per 1,000 adults .. 479 334 Bank branches per 100,000 adults .. 8.7 9.8 Firms with line of credit to total firms (all firms) (%) .. .. 48.9 Small firms with line of credit to total small firms (%) .. .. 45.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 30.3 Adults saving at a fin. inst. to total adults (%) .. .. 10.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.4 27.3 17.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 62.6 56.8 65.2 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.5 4.3 3.6 Lending-deposit spread (%) 6.9 6.2 5.9 Non-interest income to total income (%) 36.7 29.3 26.6 Overhead costs to total assets (%) 2.4 2.2 2.5 Return on average assets (%) 0.5 0.9 1.1 Return on average equity (%) 9.7 15.6 15.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 60.1 31.9 66.8 Stability—Financial Institutions Bank Z-score 15.8 14.5 14.0 Bank non-performing loans to gross loans (%) .. 6.8 5.2 Bank capital to total assets (%) .. 7.2 9.3 Bank credit to bank deposits (%) 78.2 73.7 76.3 Regulatory capital to risk-weighted assets (%) .. 12.1 14.0 Liquid assets to deposits and short term funding (%) 33.9 23.1 19.3 Stability—Financial Markets Volatility of stock price index 34.2 24.7 28.8 Other Indicators—Financial Institutions Bank concentration (%) 63.9 43.2 40.2 Bank deposits to GDP (%) 33.2 41.6 58.9 H-statistic .. .. 0.4 Lerner index 0.16 0.28 0.27 Boone indicator –0.08 –0.06 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.04 0.04 The Little Data Book on Financial Development 2013 7 Sub-Saharan Africa Gross domestic product ($ billions) 1,102.9 Gross national income ($ billions) 1,048.3 Population (millions) 853.2 Inflation (%) 4.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.0 10.2 17.5 Deposit money bank assets to GDP (%) 12.6 15.2 23.7 Non-bank financial institutions’ assets to GDP (%) 4.0 3.4 0.1 Depth—Financial Markets Stock market capitalization to GDP (%) 10.4 14.7 26.2 Stock market total value traded to GDP (%) 0.5 0.3 0.7 Outstanding domestic private debt securities to GDP (%) 9.9 12.6 17.5 Outstanding domestic public debt securities to GDP (%) 36.4 32.0 31.7 Outstanding international debt securities to GDP (%) 11.1 10.7 14.9 Access—Financial Institutions Bank accounts per 1,000 adults 6 71 242 Bank branches per 100,000 adults 0.9 1.8 3.4 Firms with line of credit to total firms (all firms) (%) .. 16.6 13.6 Small firms with line of credit to total small firms (%) .. 12.1 10.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 17.5 Adults saving at a fin. inst. to total adults (%) .. .. 9.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 38.2 75.9 65.8 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 56.2 34.8 60.3 Corporate bonds to total bonds and notes outstanding (%) 21.5 29.3 37.3 Efficiency—Financial Institutions Net interest margin (%) 4.8 4.5 4.4 Lending-deposit spread (%) 12.2 11.3 9.8 Non-interest income to total income (%) 42.1 43.6 44.8 Overhead costs to total assets (%) 5.0 4.9 4.8 Return on average assets (%) 1.7 2.0 1.8 Return on average equity (%) 17.5 18.0 17.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.5 2.9 6.3 Stability—Financial Institutions Bank Z-score 13.4 12.1 13.0 Bank non-performing loans to gross loans (%) .. 7.0 6.3 Bank capital to total assets (%) .. 9.8 9.2 Bank credit to bank deposits (%) 71.0 69.6 68.4 Regulatory capital to risk-weighted assets (%) .. 16.3 19.1 Liquid assets to deposits and short term funding (%) 42.4 47.2 36.8 Stability—Financial Markets Volatility of stock price index 19.0 20.4 29.0 Other Indicators—Financial Institutions Bank concentration (%) 88.5 80.6 75.5 Bank deposits to GDP (%) 13.4 15.3 20.2 H-statistic .. .. 0.5 Lerner index 0.28 0.28 0.30 Boone indicator –0.07 –0.05 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.04 0.02 0.02 8 2013 The Little Data Book on Financial Development Income group tables For operational and analytical purposes the World Bank’s main criterion for classifying economies is gross national income (GNI) per capita. Each economy in The Little Data Book on Financial Development is classified as low income, middle income, or high income. Low- and middle-income economies are sometimes referred to as developing economies. The use of the term is convenient; it is not intended to imply that all economies in the group are experiencing similar development or that other economies have reached a preferred or final stage of development. Classification by income does not necessarily reflect development status. Note: Classifications are fixed during the World Bank’s fiscal year (ending on June 30), thus countries remain in the categories in which they are classified irrespective of any revisions to their per capita income data. Low-income economies are those with a GNI per capita of $1,025 or less in 2011. Middle-income economies are those with a GNI per capita of more than $1,025 but less than $12,476. Lower-middle-income and upper-middle- income economies are separated at a GNI per capita of $4,035. High-income economies are those with a GNI per capita of $12,476 or more. Euro area includes the member states of the Economic and Monetary Union of the European Union that have adopted the euro as their currency: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovak Republic, Slovenia, and Spain. The Little Data Book on Financial Development 2013 9 Low income Gross domestic product ($ billions) 425.1 Gross national income ($ billions) 431.3 Population (millions) 799.8 Inflation (%) 5.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.3 8.9 15.5 Deposit money bank assets to GDP (%) 10.6 12.9 19.6 Non-bank financial institutions’ assets to GDP (%) 3.5 3.1 0.1 Depth—Financial Markets Stock market capitalization to GDP (%) 6.2 6.0 20.8 Stock market total value traded to GDP (%) 0.7 1.1 0.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 3 59 108 Bank branches per 100,000 adults 0.7 1.2 2.9 Firms with line of credit to total firms (all firms) (%) .. 16.3 13.6 Small firms with line of credit to total small firms (%) .. 11.3 10.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 14.3 Adults saving at a fin. inst. to total adults (%) .. .. 7.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.2 5.9 4.3 Lending-deposit spread (%) 12.5 11.7 11.1 Non-interest income to total income (%) 44.6 43.2 44.8 Overhead costs to total assets (%) 5.0 5.2 5.1 Return on average assets (%) 1.6 1.9 1.6 Return on average equity (%) 17.6 14.6 17.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 10.0 7.0 9.4 Stability—Financial Institutions Bank Z-score 12.8 11.1 10.1 Bank non-performing loans to gross loans (%) .. 15.2 6.3 Bank capital to total assets (%) .. 9.9 13.2 Bank credit to bank deposits (%) 73.0 63.1 68.6 Regulatory capital to risk-weighted assets (%) .. 16.3 20.8 Liquid assets to deposits and short term funding (%) 47.4 47.2 36.0 Stability—Financial Markets Volatility of stock price index 13.4 14.8 35.6 Other Indicators—Financial Institutions Bank concentration (%) 85.0 85.4 77.0 Bank deposits to GDP (%) 12.7 13.8 19.6 H-statistic .. .. 0.5 Lerner index 0.28 0.28 0.31 Boone indicator –0.04 –0.05 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.01 0.01 10 2013 The Little Data Book on Financial Development Middle income Gross domestic product ($ billions) 19,653.0 Gross national income ($ billions) 19,540.9 Population (millions) 4,966.7 Inflation (%) 4.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 21.0 23.3 33.2 Deposit money bank assets to GDP (%) 31.7 30.9 43.2 Non-bank financial institutions’ assets to GDP (%) 6.2 2.5 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 15.9 21.8 28.2 Stock market total value traded to GDP (%) 1.8 1.9 2.3 Outstanding domestic private debt securities to GDP (%) 4.9 9.6 5.0 Outstanding domestic public debt securities to GDP (%) 15.5 27.9 27.6 Outstanding international debt securities to GDP (%) 7.9 6.7 7.1 Access—Financial Institutions Bank accounts per 1,000 adults 10 352 736 Bank branches per 100,000 adults 4.1 8.3 12.2 Firms with line of credit to total firms (all firms) (%) .. 45.0 48.9 Small firms with line of credit to total small firms (%) .. 38.8 33.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 30.3 Adults saving at a fin. inst. to total adults (%) .. .. 8.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.8 50.9 46.8 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 53.8 48.2 53.3 Corporate bonds to total bonds and notes outstanding (%) 27.5 31.7 29.6 Efficiency—Financial Institutions Net interest margin (%) 3.3 3.3 3.8 Lending-deposit spread (%) 8.3 7.1 6.3 Non-interest income to total income (%) 34.9 38.1 33.8 Overhead costs to total assets (%) 4.4 3.9 3.4 Return on average assets (%) 1.0 1.5 1.2 Return on average equity (%) 11.4 15.5 13.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 8.6 13.5 8.7 Stability—Financial Institutions Bank Z-score 14.7 15.5 17.7 Bank non-performing loans to gross loans (%) .. 5.3 3.9 Bank capital to total assets (%) .. 10.2 10.0 Bank credit to bank deposits (%) 78.0 79.0 71.8 Regulatory capital to risk-weighted assets (%) .. 15.7 16.3 Liquid assets to deposits and short term funding (%) 39.2 37.8 30.3 Stability—Financial Markets Volatility of stock price index 31.3 21.9 29.4 Other Indicators—Financial Institutions Bank concentration (%) 67.9 60.2 59.0 Bank deposits to GDP (%) 26.5 30.9 29.0 H-statistic .. .. 0.7 Lerner index 0.19 0.25 0.25 Boone indicator –0.06 –0.07 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.06 0.05 The Little Data Book on Financial Development 2013 11 Lower middle income Gross domestic product ($ billions) 4,181.3 Gross national income ($ billions) 4,244.9 Population (millions) 2,494.2 Inflation (%) 4.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 17.3 20.8 30.3 Deposit money bank assets to GDP (%) 29.4 27.2 36.3 Non-bank financial institutions’ assets to GDP (%) 6.7 5.3 0.6 Depth—Financial Markets Stock market capitalization to GDP (%) 11.1 19.0 20.3 Stock market total value traded to GDP (%) 0.8 0.5 1.0 Outstanding domestic private debt securities to GDP (%) 0.4 0.9 1.6 Outstanding domestic public debt securities to GDP (%) 26.5 30.4 29.1 Outstanding international debt securities to GDP (%) 6.3 4.1 4.6 Access—Financial Institutions Bank accounts per 1,000 adults 6 346 641 Bank branches per 100,000 adults 1.3 7.6 8.5 Firms with line of credit to total firms (all firms) (%) .. 46.0 46.2 Small firms with line of credit to total small firms (%) .. 39.3 33.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 21.4 Adults saving at a fin. inst. to total adults (%) .. .. 7.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.7 52.2 43.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 45.8 46.8 57.6 Corporate bonds to total bonds and notes outstanding (%) 3.4 8.5 9.7 Efficiency—Financial Institutions Net interest margin (%) 3.5 3.9 4.0 Lending-deposit spread (%) 9.0 8.0 8.0 Non-interest income to total income (%) 32.0 33.7 32.0 Overhead costs to total assets (%) 4.3 3.9 3.8 Return on average assets (%) 0.9 1.3 1.3 Return on average equity (%) 11.2 15.6 14.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 8.6 4.8 14.9 Stability—Financial Institutions Bank Z-score 14.0 15.7 19.7 Bank non-performing loans to gross loans (%) .. 6.5 5.2 Bank capital to total assets (%) .. 10.6 9.8 Bank credit to bank deposits (%) 76.8 73.5 73.7 Regulatory capital to risk-weighted assets (%) .. 16.2 16.4 Liquid assets to deposits and short term funding (%) 39.9 39.2 34.8 Stability—Financial Markets Volatility of stock price index 30.5 25.0 29.0 Other Indicators—Financial Institutions Bank concentration (%) 68.7 59.4 57.4 Bank deposits to GDP (%) 27.5 27.7 30.0 H-statistic .. .. 0.6 Lerner index 0.23 0.24 0.24 Boone indicator –0.07 –0.07 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.04 0.04 12 2013 The Little Data Book on Financial Development Upper middle income Gross domestic product ($ billions) 15,468.6 Gross national income ($ billions) 15,289.2 Population (millions) 2,472.5 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 23.7 25.2 44.5 Deposit money bank assets to GDP (%) 33.1 37.6 52.0 Non-bank financial institutions’ assets to GDP (%) 5.1 1.1 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 20.3 25.6 36.5 Stock market total value traded to GDP (%) 2.1 2.3 2.4 Outstanding domestic private debt securities to GDP (%) 7.7 12.6 17.1 Outstanding domestic public debt securities to GDP (%) 13.2 25.3 25.3 Outstanding international debt securities to GDP (%) 8.5 8.0 8.5 Access—Financial Institutions Bank accounts per 1,000 adults 10 523 915 Bank branches per 100,000 adults 12.0 10.4 13.8 Firms with line of credit to total firms (all firms) (%) .. 42.2 48.9 Small firms with line of credit to total small firms (%) .. 30.6 40.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 44.4 Adults saving at a fin. inst. to total adults (%) .. .. 9.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.8 49.6 50.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 54.3 49.2 47.1 Corporate bonds to total bonds and notes outstanding (%) 33.3 34.4 29.8 Efficiency—Financial Institutions Net interest margin (%) 3.3 2.9 3.1 Lending-deposit spread (%) 7.8 6.5 5.9 Non-interest income to total income (%) 35.8 39.8 34.3 Overhead costs to total assets (%) 4.5 3.9 3.0 Return on average assets (%) 1.0 1.6 1.0 Return on average equity (%) 11.4 15.2 10.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 9.5 16.9 7.3 Stability—Financial Institutions Bank Z-score 14.8 13.9 14.6 Bank non-performing loans to gross loans (%) .. 4.3 3.7 Bank capital to total assets (%) .. 9.4 10.4 Bank credit to bank deposits (%) 79.5 82.6 70.2 Regulatory capital to risk-weighted assets (%) .. 15.3 16.3 Liquid assets to deposits and short term funding (%) 35.9 35.4 27.7 Stability—Financial Markets Volatility of stock price index 32.5 20.8 29.7 Other Indicators—Financial Institutions Bank concentration (%) 60.5 60.7 59.9 Bank deposits to GDP (%) 26.0 32.5 29.0 H-statistic .. .. 0.7 Lerner index 0.19 0.27 0.27 Boone indicator –0.05 –0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.07 0.07 The Little Data Book on Financial Development 2013 13 Low and middle income Gross domestic product ($ billions) 20,099.1 Gross national income ($ billions) 19,992.8 Population (millions) 5,766.5 Inflation (%) 4.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.5 18.7 30.0 Deposit money bank assets to GDP (%) 24.7 24.8 36.7 Non-bank financial institutions’ assets to GDP (%) 4.4 2.9 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 12.2 21.3 28.0 Stock market total value traded to GDP (%) 1.6 1.7 1.2 Outstanding domestic private debt securities to GDP (%) 4.9 9.6 5.0 Outstanding domestic public debt securities to GDP (%) 15.5 27.9 27.6 Outstanding international debt securities to GDP (%) 7.9 6.7 7.1 Access—Financial Institutions Bank accounts per 1,000 adults 6 318 612 Bank branches per 100,000 adults 1.2 7.0 10.3 Firms with line of credit to total firms (all firms) (%) .. 34.4 48.6 Small firms with line of credit to total small firms (%) .. 23.3 33.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 25.5 Adults saving at a fin. inst. to total adults (%) .. .. 8.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.8 50.9 46.8 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 53.8 48.2 53.3 Corporate bonds to total bonds and notes outstanding (%) 27.5 31.7 29.6 Efficiency—Financial Institutions Net interest margin (%) 3.6 3.7 3.9 Lending-deposit spread (%) 8.7 7.8 7.3 Non-interest income to total income (%) 36.0 40.4 36.7 Overhead costs to total assets (%) 4.6 4.2 3.7 Return on average assets (%) 1.1 1.5 1.3 Return on average equity (%) 12.6 15.5 13.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 8.6 10.9 8.7 Stability—Financial Institutions Bank Z-score 14.1 13.9 16.9 Bank non-performing loans to gross loans (%) .. 5.3 4.1 Bank capital to total assets (%) .. 10.2 10.3 Bank credit to bank deposits (%) 77.9 75.6 70.9 Regulatory capital to risk-weighted assets (%) .. 16.0 16.7 Liquid assets to deposits and short term funding (%) 39.8 39.8 31.5 Stability—Financial Markets Volatility of stock price index 30.9 21.9 29.4 Other Indicators—Financial Institutions Bank concentration (%) 71.4 63.9 63.5 Bank deposits to GDP (%) 22.4 24.6 24.8 H-statistic .. .. 0.7 Lerner index 0.23 0.28 0.27 Boone indicator –0.06 –0.06 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.05 0.04 14 2013 The Little Data Book on Financial Development High income Gross domestic product ($ billions) 43,119.5 Gross national income ($ billions) 43,334.0 Population (millions) 1,127.9 Inflation (%) 2.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 71.4 84.2 105.9 Deposit money bank assets to GDP (%) 83.0 102.0 129.7 Non-bank financial institutions’ assets to GDP (%) 18.4 16.9 17.7 Depth—Financial Markets Stock market capitalization to GDP (%) 63.4 73.2 58.4 Stock market total value traded to GDP (%) 32.2 44.0 23.9 Outstanding domestic private debt securities to GDP (%) 30.4 29.5 33.7 Outstanding domestic public debt securities to GDP (%) 28.2 34.2 40.2 Outstanding international debt securities to GDP (%) 20.4 23.5 48.0 Access—Financial Institutions Bank accounts per 1,000 adults 474 1,130 1,769 Bank branches per 100,000 adults 46.5 28.5 30.1 Firms with line of credit to total firms (all firms) (%) .. 67.3 48.4 Small firms with line of credit to total small firms (%) .. 60.2 41.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 93.0 Adults saving at a fin. inst. to total adults (%) .. .. 42.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 45.6 52.4 69.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 41.9 45.5 46.5 Corporate bonds to total bonds and notes outstanding (%) 37.2 38.3 45.3 Efficiency—Financial Institutions Net interest margin (%) 2.1 1.6 1.6 Lending-deposit spread (%) 4.2 3.9 4.2 Non-interest income to total income (%) 36.8 39.2 34.1 Overhead costs to total assets (%) 1.6 1.4 1.4 Return on average assets (%) 0.9 1.0 0.6 Return on average equity (%) 12.1 15.0 8.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 56.1 61.0 77.1 Stability—Financial Institutions Bank Z-score 20.3 18.4 21.4 Bank non-performing loans to gross loans (%) .. 1.9 4.1 Bank capital to total assets (%) .. 7.2 6.9 Bank credit to bank deposits (%) 99.6 100.9 115.6 Regulatory capital to risk-weighted assets (%) .. 12.6 15.4 Liquid assets to deposits and short term funding (%) 36.8 34.8 30.0 Stability—Financial Markets Volatility of stock price index 23.5 15.5 31.1 Other Indicators—Financial Institutions Bank concentration (%) 63.0 63.2 62.1 Bank deposits to GDP (%) 63.6 69.7 100.2 H-statistic .. .. 0.6 Lerner index 0.20 0.24 0.25 Boone indicator –0.06 –0.05 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.29 0.33 0.32 The Little Data Book on Financial Development 2013 15 Euro area Gross domestic product ($ billions) 12,057.6 Gross national income ($ billions) 12,065.7 Population (millions) 331.9 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 90.1 102.7 114.8 Deposit money bank assets to GDP (%) 101.9 116.7 136.0 Non-bank financial institutions’ assets to GDP (%) 48.4 42.9 .. Depth—Financial Markets Stock market capitalization to GDP (%) 66.4 56.2 26.1 Stock market total value traded to GDP (%) 38.0 22.6 15.5 Outstanding domestic private debt securities to GDP (%) 28.4 27.6 54.3 Outstanding domestic public debt securities to GDP (%) 36.6 34.9 44.0 Outstanding international debt securities to GDP (%) 26.1 50.0 86.9 Access—Financial Institutions Bank accounts per 1,000 adults 929 1,595 1,881 Bank branches per 100,000 adults 46.5 35.1 34.0 Firms with line of credit to total firms (all firms) (%) .. .. 50.8 Small firms with line of credit to total small firms (%) .. .. 43.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 95.3 Adults saving at a fin. inst. to total adults (%) .. .. 42.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 61.8 72.5 88.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 42.4 32.3 22.3 Corporate bonds to total bonds and notes outstanding (%) 30.4 34.3 44.3 Efficiency—Financial Institutions Net interest margin (%) 2.0 1.5 1.5 Lending-deposit spread (%) 4.2 2.8 6.7 Non-interest income to total income (%) 37.6 37.6 38.6 Overhead costs to total assets (%) 1.6 1.4 1.4 Return on average assets (%) 0.9 0.8 0.3 Return on average equity (%) 12.1 12.8 7.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 62.0 50.5 58.3 Stability—Financial Institutions Bank Z-score 22.1 15.4 15.1 Bank non-performing loans to gross loans (%) .. 2.5 4.4 Bank capital to total assets (%) .. 6.2 6.2 Bank credit to bank deposits (%) 120.3 120.5 127.5 Regulatory capital to risk-weighted assets (%) .. 12.1 13.9 Liquid assets to deposits and short term funding (%) 39.0 32.0 34.9 Stability—Financial Markets Volatility of stock price index 22.6 14.7 32.5 Other Indicators—Financial Institutions Bank concentration (%) 60.4 68.3 62.3 Bank deposits to GDP (%) 81.2 92.6 117.5 H-statistic .. .. 0.7 Lerner index 0.19 0.21 0.23 Boone indicator –0.05 –0.03 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.19 0.21 0.15 16 2013 The Little Data Book on Financial Development Country tables Cyprus GDP and GNI data refer to the area controlled by the government of Cyprus. Czech Republic Deposit money bank assets data after 2009 are claims on general govern- ment and claims on other sectors. Denmark Deposit money bank assets data after 2009 are claims on general govern- ment and claims on other sectors. Fiji Data on other financial institutions assets are not available; the sum of claims on central government, claims on local government, claims on non- financial public enterprise, claims on private sector, and real estate are used. Hungary Deposit money bank assets data after 2009 are claims on general govern- ment and claims on other sectors. Ireland Claims on official entities and claims on private sector are used for construct- ing the data on other financial institutions assets. Korea Data on other financial institutions assets are reported in SDR units. Latvia Deposit money bank assets data after 2009 are claims on general govern- ment and claims on other sectors. Lithuania Deposit money bank assets data after 2009 are claims on general govern- ment and claims on other sectors. Variable claims on other sectors are used to construct the 2009 data on private credit by deposit money banks. Madagascar Some data on central bank assets are negative. However, line 12A in the IFS should not be negative as the data on claims on central government are presented on a gross basis. The negative values should be reclassified as government deposits, as they reflect liabilities. Hence, the negative observa- tions are reported as missing. The Little Data Book on Financial Development 2013 17 Country tables Malaysia Data on other financial institutions assets are reported in SDR units. Malta Data on central bank assets commence reporting in 2008 according to Eu- ropean standards. Mauritania Data on central bank assets are not available before 2006. Morocco GDP and GNI data include Former Spanish Sahara. Netherlands Data on other financial institutions assets are not available; the sum of claims on central government, claims on local government, claims on non- financial public enterprise, claims on private sector, and real estate are used. New Zealand Data on other financial institutions assets are reported in SDR units. Norway Data on other financial institutions assets are not available; the sum of claims on central government, claims on local government, claims on non- financial public enterprise, claims on private sector, and real estate are used. Rwanda Claims on official entities and claims on private sector are used for construct- ing the data on other financial institutions assets. Singapore Data on other financial institutions assets are reported in SDR units. Slovak Republic After the year 2009, demand deposit of other resident sector and other de- posits are used to construct the data on bank deposits. Sudan GDP and GNI data include South Sudan. Sweden Deposit money bank assets data after 2009 are claims on general govern- ment and claims on other sectors. Data on other financial institutions assets 18 2013 The Little Data Book on Financial Development Country tables are not available in 2009; the sum of claims on central government, claims on local government, claims on nonfinancial public enterprise, claims on pri- vate sector, and real estate are used. Switzerland Data on other financial institutions assets are reported in SDR units. Tanzania GDP and GNI data refer to mainland Tanzania only. United Kingdom Central bank assets are claims on central government. The Little Data Book on Financial Development 2013 19 Afghanistan South Asia Low income Gross domestic product ($ billions) 17.2 Gross national income ($ billions) 15.2 Population (millions) 34.4 Inflation (%) 0.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 5.0 9.0 Deposit money bank assets to GDP (%) .. 5.3 9.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 100 Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 9.0 Adults saving at a fin. inst. to total adults (%) .. .. 2.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 6.1 1.5 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. 40.2 42.7 Overhead costs to total assets (%) .. 4.5 3.7 Return on average assets (%) .. –2.0 0.8 Return on average equity (%) .. –9.4 5.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 14.5 8.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. 52.9 75.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 97.3 59.7 Bank deposits to GDP (%) .. 8.7 12.0 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. 0.07 –2.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 20 2013 The Little Data Book on Financial Development Europe & Central Asia Albania Lower middle income Gross domestic product ($ billions) 11.9 Gross national income ($ billions) 11.8 Population (millions) 3.2 Inflation (%) 3.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 3.9 11.5 35.8 Deposit money bank assets to GDP (%) 31.9 37.3 59.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 11.3 22.6 Firms with line of credit to total firms (all firms) (%) .. 42.2 .. Small firms with line of credit to total small firms (%) .. 37.9 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 28.3 Adults saving at a fin. inst. to total adults (%) .. .. 8.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.7 3.6 4.0 Lending-deposit spread (%) 13.8 8.0 6.4 Non-interest income to total income (%) 34.9 15.5 13.9 Overhead costs to total assets (%) 2.2 2.3 2.3 Return on average assets (%) 1.8 1.5 1.2 Return on average equity (%) 17.9 20.7 12.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.0 8.3 22.6 Bank non-performing loans to gross loans (%) .. 2.3 13.9 Bank capital to total assets (%) .. 6.6 8.5 Bank credit to bank deposits (%) 10.7 29.2 76.9 Regulatory capital to risk-weighted assets (%) .. 18.6 15.4 Liquid assets to deposits and short term funding (%) 87.4 60.9 24.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 94.0 91.9 68.3 Bank deposits to GDP (%) 40.2 46.7 73.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –0.04 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 21 Algeria Middle East & North Africa Upper middle income Gross domestic product ($ billions) 162.0 Gross national income ($ billions) 155.5 Population (millions) 35.5 Inflation (%) 3.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.0 10.4 14.2 Deposit money bank assets to GDP (%) 33.1 33.6 34.9 Non-bank financial institutions’ assets to GDP (%) 0.1 0.1 0.0 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 315 346 Bank branches per 100,000 adults .. 4.8 5.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 33.3 Adults saving at a fin. inst. to total adults (%) .. .. 4.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.0 4.1 2.0 Lending-deposit spread (%) 2.5 6.1 6.3 Non-interest income to total income (%) 18.1 26.8 39.1 Overhead costs to total assets (%) 0.9 1.1 1.1 Return on average assets (%) 0.2 0.2 1.5 Return on average equity (%) 4.6 3.5 14.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.0 8.3 17.5 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 22.7 31.4 23.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 14.4 55.4 60.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 72.8 83.8 71.1 Bank deposits to GDP (%) 24.0 36.2 58.2 H-statistic .. .. .. Lerner index 0.33 0.59 0.45 Boone indicator –0.05 –0.01 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 22 2013 The Little Data Book on Financial Development Andorra High income Gross domestic product ($ billions) 3.7 Gross national income ($ billions) 3.7 Population (thousands) 85 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.7 1.7 .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 51.4 .. .. Overhead costs to total assets (%) 1.1 .. .. Return on average assets (%) 2.1 2.6 1.7 Return on average equity (%) 20.1 20.2 15.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 18.9 25.0 22.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 78.0 100.0 100.0 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index 0.39 0.50 0.34 Boone indicator –0.06 –0.04 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 23 Angola Sub-Saharan Africa Upper middle income Gross domestic product ($ billions) 82.5 Gross national income ($ billions) 74.3 Population (millions) 19.1 Inflation (%) 14.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 1.1 4.1 18.1 Deposit money bank assets to GDP (%) 1.3 7.1 30.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 35 97 Bank branches per 100,000 adults .. 0.8 1.3 Firms with line of credit to total firms (all firms) (%) .. 4.1 9.5 Small firms with line of credit to total small firms (%) .. 2.2 4.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 39.2 Adults saving at a fin. inst. to total adults (%) .. .. 15.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.8 2.6 3.5 Lending-deposit spread (%) 63.6 54.3 9.8 Non-interest income to total income (%) 76.8 48.9 31.5 Overhead costs to total assets (%) 7.0 4.8 2.8 Return on average assets (%) 0.4 2.1 3.3 Return on average equity (%) 3.5 21.8 29.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 5.8 9.9 13.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 14.1 40.9 65.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 84.5 53.1 37.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 74.6 54.4 Bank deposits to GDP (%) 8.3 9.8 29.0 H-statistic .. .. .. Lerner index 0.38 0.33 0.37 Boone indicator –0.08 –0.14 –0.13 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 24 2013 The Little Data Book on Financial Development Antigua and Barbuda Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 1.2 Gross national income ($ billions) 1.1 Population (thousands) 89 Inflation (%) 3.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 57.6 57.3 75.3 Deposit money bank assets to GDP (%) 74.2 70.9 95.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 9.6 28.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) –1.9 –2.5 .. Lending-deposit spread (%) 7.0 7.5 7.6 Non-interest income to total income (%) 147.2 150.1 .. Overhead costs to total assets (%) 4.0 4.0 .. Return on average assets (%) 0.2 1.1 .. Return on average equity (%) 2.7 15.2 .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.1 20.0 .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 78.0 67.2 76.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 19.0 7.3 .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 83.1 94.1 .. Bank deposits to GDP (%) 74.9 85.8 85.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –1.00 –0.21 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 25 Argentina Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 368.7 Gross national income ($ billions) 358.6 Population (millions) 40.4 Inflation (%) 10.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 23.7 10.0 12.3 Deposit money bank assets to GDP (%) 33.7 29.4 21.6 Non-bank financial institutions’ assets to GDP (%) 0.8 0.3 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 44.2 29.6 15.0 Stock market total value traded to GDP (%) 2.4 6.5 0.7 Outstanding domestic private debt securities to GDP (%) 4.9 8.4 2.7 Outstanding domestic public debt securities to GDP (%) 10.9 25.1 12.7 Outstanding international debt securities to GDP (%) 29.5 42.9 14.3 Access—Financial Institutions Bank accounts per 1,000 adults .. 524 702 Bank branches per 100,000 adults .. 13.2 13.3 Firms with line of credit to total firms (all firms) (%) .. 39.4 49.3 Small firms with line of credit to total small firms (%) .. 23.0 37.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 33.1 Adults saving at a fin. inst. to total adults (%) .. .. 3.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.6 79.9 70.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 27.7 19.4 30.1 Corporate bonds to total bonds and notes outstanding (%) 33.3 25.0 23.0 Efficiency—Financial Institutions Net interest margin (%) 4.0 1.7 2.1 Lending-deposit spread (%) 2.7 2.4 1.4 Non-interest income to total income (%) 51.7 72.4 54.3 Overhead costs to total assets (%) 4.2 4.2 6.8 Return on average assets (%) 0.5 0.6 2.7 Return on average equity (%) 5.4 6.0 24.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.9 30.3 7.2 Stability—Financial Institutions Bank Z-score 4.4 5.4 4.7 Bank non-performing loans to gross loans (%) .. 5.2 1.8 Bank capital to total assets (%) .. 12.9 11.9 Bank credit to bank deposits (%) 84.5 49.3 66.4 Regulatory capital to risk-weighted assets (%) .. 15.3 17.7 Liquid assets to deposits and short term funding (%) 14.5 17.7 29.5 Stability—Financial Markets Volatility of stock price index 31.3 27.4 36.1 Other Indicators—Financial Institutions Bank concentration (%) 30.6 43.2 32.2 Bank deposits to GDP (%) 27.1 21.4 18.7 H-statistic .. .. 0.5 Lerner index 0.17 0.26 0.30 Boone indicator –0.22 –0.22 –0.18 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.03 0.02 26 2013 The Little Data Book on Financial Development Europe & Central Asia Armenia Lower middle income Gross domestic product ($ billions) 9.4 Gross national income ($ billions) 9.7 Population (millions) 3.1 Inflation (%) 8.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 9.1 6.9 22.9 Deposit money bank assets to GDP (%) 10.5 8.8 26.5 Non-bank financial institutions’ assets to GDP (%) .. .. 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 0.3 0.7 0.9 Stock market total value traded to GDP (%) 0.0 0.0 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 357 589 Bank branches per 100,000 adults .. 12.0 17.5 Firms with line of credit to total firms (all firms) (%) .. .. 44.2 Small firms with line of credit to total small firms (%) .. .. 34.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 17.5 Adults saving at a fin. inst. to total adults (%) .. .. 0.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 18.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.6 3.9 3.6 Lending-deposit spread (%) 13.5 12.2 10.3 Non-interest income to total income (%) 38.5 51.8 29.9 Overhead costs to total assets (%) 4.9 4.8 4.2 Return on average assets (%) 0.3 2.2 1.8 Return on average equity (%) 3.0 10.5 8.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 10.8 3.5 0.2 Stability—Financial Institutions Bank Z-score 5.0 14.8 15.8 Bank non-performing loans to gross loans (%) .. 1.9 3.0 Bank capital to total assets (%) .. 21.5 20.4 Bank credit to bank deposits (%) 110.9 80.7 242.4 Regulatory capital to risk-weighted assets (%) .. 33.7 22.2 Liquid assets to deposits and short term funding (%) 45.2 53.5 32.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 66.2 58.6 40.2 Bank deposits to GDP (%) 7.6 9.1 11.8 H-statistic .. .. 0.8 Lerner index 0.25 0.19 0.23 Boone indicator –0.19 –0.12 –0.14 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.34 0.65 0.04 The Little Data Book on Financial Development 2013 27 Aruba High income Gross domestic product ($ billions) .. Gross national income ($ billions) .. Population (thousands) 107 Inflation (%) 2.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 43.0 52.7 59.5 Deposit money bank assets to GDP (%) 44.5 55.2 63.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.0 4.7 .. Lending-deposit spread (%) 5.9 7.6 8.1 Non-interest income to total income (%) 36.6 30.1 .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) 0.7 1.9 .. Return on average equity (%) 17.5 18.9 .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.2 30.0 .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 93.6 100.9 86.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 29.7 19.6 .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 .. Bank deposits to GDP (%) 47.3 53.1 69.1 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.11 –0.10 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 28 2013 The Little Data Book on Financial Development Australia High income Gross domestic product ($ billions) 1,131.6 Gross national income ($ billions) 1,094.5 Population (millions) 22.3 Inflation (%) 2.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 83.5 102.1 128.7 Deposit money bank assets to GDP (%) 87.9 102.5 131.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 96.9 117.1 131.5 Stock market total value traded to GDP (%) 50.7 83.5 94.6 Outstanding domestic private debt securities to GDP (%) 37.8 51.0 62.9 Outstanding domestic public debt securities to GDP (%) 19.6 13.4 26.2 Outstanding international debt securities to GDP (%) 24.0 40.0 54.3 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults 31.4 30.6 31.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 99.1 Adults saving at a fin. inst. to total adults (%) .. .. 61.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 17.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 48.5 38.6 42.4 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 50.6 62.9 58.3 Corporate bonds to total bonds and notes outstanding (%) 37.2 61.2 50.1 Efficiency—Financial Institutions Net interest margin (%) 2.5 1.5 1.7 Lending-deposit spread (%) 4.2 5.2 3.1 Non-interest income to total income (%) 33.8 26.0 25.1 Overhead costs to total assets (%) 2.3 1.1 1.0 Return on average assets (%) 0.1 0.7 0.8 Return on average equity (%) 1.7 15.0 12.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 48.2 75.6 95.1 Stability—Financial Institutions Bank Z-score 11.2 21.2 36.8 Bank non-performing loans to gross loans (%) .. 0.6 2.2 Bank capital to total assets (%) .. 6.9 5.7 Bank credit to bank deposits (%) 138.0 143.7 127.1 Regulatory capital to risk-weighted assets (%) .. 10.2 11.4 Liquid assets to deposits and short term funding (%) 23.8 11.3 16.7 Stability—Financial Markets Volatility of stock price index 18.3 15.3 32.2 Other Indicators—Financial Institutions Bank concentration (%) 44.7 44.2 64.1 Bank deposits to GDP (%) 62.6 72.3 98.8 H-statistic .. .. 0.7 Lerner index 0.07 0.11 0.17 Boone indicator –0.16 –0.65 –0.32 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.69 0.81 0.86 The Little Data Book on Financial Development 2013 29 Austria High income Gross domestic product ($ billions) 376.6 Gross national income ($ billions) 374.6 Population (millions) 8.4 Inflation (%) 1.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 98.3 108.2 121.3 Deposit money bank assets to GDP (%) 121.9 124.6 136.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 15.2 34.6 15.7 Stock market total value traded to GDP (%) 5.1 11.4 9.6 Outstanding domestic private debt securities to GDP (%) 31.8 39.7 59.2 Outstanding domestic public debt securities to GDP (%) 36.6 31.8 34.5 Outstanding international debt securities to GDP (%) 36.9 67.5 92.3 Access—Financial Institutions Bank accounts per 1,000 adults .. 1,420 1,376 Bank branches per 100,000 adults .. 13.3 11.4 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 97.1 Adults saving at a fin. inst. to total adults (%) .. .. 51.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.7 79.3 78.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 41.7 28.7 35.8 Corporate bonds to total bonds and notes outstanding (%) 46.3 58.0 62.0 Efficiency—Financial Institutions Net interest margin (%) 1.7 1.4 1.6 Lending-deposit spread (%) 3.4 .. .. Non-interest income to total income (%) 38.9 37.6 38.6 Overhead costs to total assets (%) 1.5 1.5 1.4 Return on average assets (%) 0.6 0.4 0.3 Return on average equity (%) 10.7 6.8 5.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 29.0 43.5 89.1 Stability—Financial Institutions Bank Z-score 63.1 17.1 15.1 Bank non-performing loans to gross loans (%) .. 2.6 2.8 Bank capital to total assets (%) .. 4.8 7.5 Bank credit to bank deposits (%) 120.3 120.5 114.9 Regulatory capital to risk-weighted assets (%) .. 11.8 15.4 Liquid assets to deposits and short term funding (%) 68.7 71.7 47.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 26.6 28.4 30.0 Bank deposits to GDP (%) 84.4 91.0 105.9 H-statistic .. .. 0.7 Lerner index 0.22 0.23 0.23 Boone indicator –0.03 –0.03 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.12 0.11 0.10 30 2013 The Little Data Book on Financial Development Europe & Central Asia Azerbaijan Upper middle income Gross domestic product ($ billions) 52.9 Gross national income ($ billions) 49.4 Population (millions) 9.1 Inflation (%) 5.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 4.1 7.9 17.0 Deposit money bank assets to GDP (%) 10.2 9.8 21.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 18 41 Bank branches per 100,000 adults .. 6.8 10.4 Firms with line of credit to total firms (all firms) (%) .. .. 19.9 Small firms with line of credit to total small firms (%) .. .. 18.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 14.9 Adults saving at a fin. inst. to total adults (%) .. .. 1.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 17.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.2 3.8 4.5 Lending-deposit spread (%) 6.8 8.5 9.1 Non-interest income to total income (%) 63.9 39.0 35.1 Overhead costs to total assets (%) 7.2 5.2 4.1 Return on average assets (%) –0.6 2.6 0.6 Return on average equity (%) –2.5 13.8 4.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.6 12.2 9.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 55.9 94.8 195.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 73.0 39.1 26.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 88.5 68.4 62.7 Bank deposits to GDP (%) 7.5 8.9 9.5 H-statistic .. .. 0.6 Lerner index 0.33 0.33 0.26 Boone indicator –0.03 –0.08 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.00 .. .. The Little Data Book on Financial Development 2013 31 Bahamas, The High income Gross domestic product ($ billions) 7.8 Gross national income ($ billions) 7.4 Population (thousands) 343 Inflation (%) 1.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 52.1 58.5 85.1 Deposit money bank assets to GDP (%) 59.6 65.6 99.6 Non-bank financial institutions’ assets to GDP (%) 1.6 1.9 0.5 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 10.5 18.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.8 1.7 1.6 Lending-deposit spread (%) 1.9 2.3 2.1 Non-interest income to total income (%) 59.5 39.9 34.9 Overhead costs to total assets (%) 2.8 1.1 2.0 Return on average assets (%) 3.5 2.3 1.2 Return on average equity (%) 19.8 12.7 5.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 20.9 15.6 24.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 106.5 106.9 110.3 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 60.8 53.1 23.4 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 45.7 44.5 72.8 Bank deposits to GDP (%) 50.0 55.5 76.0 H-statistic .. .. 0.3 Lerner index 0.39 0.48 0.38 Boone indicator 0.17 0.18 0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 32 2013 The Little Data Book on Financial Development Bahrain High income Gross domestic product ($ billions) 22.9 Gross national income ($ billions) 20.6 Population (millions) 1.3 Inflation (%) 2.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 44.8 .. 73.9 Deposit money bank assets to GDP (%) 55.6 .. 90.3 Non-bank financial institutions’ assets to GDP (%) 10.2 .. 45.0 Depth—Financial Markets Stock market capitalization to GDP (%) 86.5 .. 81.7 Stock market total value traded to GDP (%) 4.3 .. 2.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 33.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 64.5 Adults saving at a fin. inst. to total adults (%) .. .. 16.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 21.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.3 1.6 1.5 Lending-deposit spread (%) 5.8 4.7 6.0 Non-interest income to total income (%) 33.0 62.9 26.7 Overhead costs to total assets (%) 1.1 0.8 1.1 Return on average assets (%) 1.0 2.9 0.9 Return on average equity (%) 9.9 19.9 7.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 3.4 .. 1.8 Stability—Financial Institutions Bank Z-score 29.6 38.5 47.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 68.7 80.2 88.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 36.8 31.4 32.6 Stability—Financial Markets Volatility of stock price index .. 11.3 11.3 Other Indicators—Financial Institutions Bank concentration (%) 65.2 59.3 55.0 Bank deposits to GDP (%) 63.6 .. 82.5 H-statistic .. .. 0.8 Lerner index 0.20 0.35 0.33 Boone indicator –0.16 –0.18 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.66 0.65 0.35 The Little Data Book on Financial Development 2013 33 Bangladesh South Asia Low income Gross domestic product ($ billions) 100.4 Gross national income ($ billions) 109.7 Population (millions) 148.7 Inflation (%) 8.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 22.7 31.2 41.2 Deposit money bank assets to GDP (%) 30.0 49.2 59.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 2.1 5.2 11.1 Stock market total value traded to GDP (%) 1.6 1.5 14.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 321 418 Bank branches per 100,000 adults .. 6.3 6.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 39.6 Adults saving at a fin. inst. to total adults (%) .. .. 16.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 23.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.4 2.1 3.3 Lending-deposit spread (%) 6.9 5.9 5.9 Non-interest income to total income (%) 74.9 58.0 44.8 Overhead costs to total assets (%) 1.8 2.0 2.5 Return on average assets (%) –0.2 0.7 1.7 Return on average equity (%) –6.9 25.3 19.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 60.1 31.9 191.1 Stability—Financial Institutions Bank Z-score 2.7 4.6 9.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 81.7 67.1 74.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 17.8 14.4 18.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 56.7 42.8 30.5 Bank deposits to GDP (%) 27.2 46.8 51.3 H-statistic .. .. 0.3 Lerner index 0.23 0.28 0.37 Boone indicator –0.04 –0.05 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.02 0.01 34 2013 The Little Data Book on Financial Development Barbados High income Gross domestic product ($ billions) 4.1 Gross national income ($ billions) 3.5 Population (thousands) 273 Inflation (%) 5.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 55.5 81.1 99.2 Deposit money bank assets to GDP (%) 74.3 109.9 124.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 71.7 178.7 106.6 Stock market total value traded to GDP (%) 0.3 5.4 0.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.8 10.3 37.2 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.0 4.9 4.4 Lending-deposit spread (%) 5.2 6.0 6.0 Non-interest income to total income (%) 27.7 38.2 35.8 Overhead costs to total assets (%) 6.2 3.5 3.6 Return on average assets (%) 0.9 1.4 1.4 Return on average equity (%) 6.9 16.7 12.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 0.3 1.7 0.5 Stability—Financial Institutions Bank Z-score 52.4 15.2 39.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 79.7 67.3 47.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 16.5 88.1 14.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Bank deposits to GDP (%) 67.6 122.3 141.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –2.64 –1.44 –1.46 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.64 0.78 0.80 The Little Data Book on Financial Development 2013 35 Belarus Europe & Central Asia Upper middle income Gross domestic product ($ billions) 55.2 Gross national income ($ billions) 54.1 Population (millions) 9.5 Inflation (%) 7.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.8 13.0 36.0 Deposit money bank assets to GDP (%) 11.3 20.2 50.6 Non-bank financial institutions’ assets to GDP (%) .. .. 0.1 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 5.7 3.1 Firms with line of credit to total firms (all firms) (%) .. .. 49.5 Small firms with line of credit to total small firms (%) .. .. 33.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 58.6 Adults saving at a fin. inst. to total adults (%) .. .. 6.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 16.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 9.6 2.8 5.0 Lending-deposit spread (%) 30.1 2.1 0.1 Non-interest income to total income (%) 35.8 58.0 41.7 Overhead costs to total assets (%) 10.1 7.1 5.2 Return on average assets (%) 2.7 1.2 2.6 Return on average equity (%) 8.1 7.7 16.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 71.0 34.8 16.5 Bank non-performing loans to gross loans (%) .. 3.1 3.5 Bank capital to total assets (%) .. 19.8 13.7 Bank credit to bank deposits (%) 58.8 97.1 136.8 Regulatory capital to risk-weighted assets (%) .. 22.7 20.5 Liquid assets to deposits and short term funding (%) 39.2 33.6 32.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 79.8 78.7 75.2 Bank deposits to GDP (%) 9.3 13.6 17.9 H-statistic .. .. 0.8 Lerner index 0.19 0.20 0.28 Boone indicator –0.17 –0.16 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 36 2013 The Little Data Book on Financial Development Belgium High income Gross domestic product ($ billions) 466.7 Gross national income ($ billions) 475.0 Population (millions) 10.9 Inflation (%) 2.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 77.4 71.6 94.6 Deposit money bank assets to GDP (%) 128.1 101.6 115.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 73.9 75.1 55.6 Stock market total value traded to GDP (%) 19.3 27.4 25.0 Outstanding domestic private debt securities to GDP (%) 40.3 27.6 57.0 Outstanding domestic public debt securities to GDP (%) 88.9 67.2 61.2 Outstanding international debt securities to GDP (%) 43.1 68.2 123.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 53.7 48.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 96.3 Adults saving at a fin. inst. to total adults (%) .. .. 42.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 30.4 26.5 51.7 Efficiency—Financial Institutions Net interest margin (%) 1.7 1.1 1.7 Lending-deposit spread (%) 4.4 5.2 .. Non-interest income to total income (%) 36.3 21.7 24.0 Overhead costs to total assets (%) 1.3 0.7 0.9 Return on average assets (%) 0.4 0.4 0.4 Return on average equity (%) 12.5 14.0 10.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 19.9 44.4 47.5 Stability—Financial Institutions Bank Z-score 12.7 5.9 8.8 Bank non-performing loans to gross loans (%) .. 2.0 2.8 Bank capital to total assets (%) .. 2.7 5.0 Bank credit to bank deposits (%) 81.9 62.5 72.1 Regulatory capital to risk-weighted assets (%) .. 11.5 19.3 Liquid assets to deposits and short term funding (%) 22.4 32.9 34.9 Stability—Financial Markets Volatility of stock price index 22.6 12.7 30.8 Other Indicators—Financial Institutions Bank concentration (%) 71.6 76.4 83.0 Bank deposits to GDP (%) 96.0 114.2 130.4 H-statistic .. .. 0.7 Lerner index 0.14 0.14 0.24 Boone indicator –0.02 0.01 0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.17 0.21 0.15 The Little Data Book on Financial Development 2013 37 Belize Latin America & Caribbean Lower middle income Gross domestic product ($ billions) 1.4 Gross national income ($ billions) 1.2 Population (thousands) 345 Inflation (%) 0.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 39.7 52.0 62.9 Deposit money bank assets to GDP (%) 45.2 56.4 68.1 Non-bank financial institutions’ assets to GDP (%) 7.8 12.9 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 20.3 7.9 Access—Financial Institutions Bank accounts per 1,000 adults .. 728 968 Bank branches per 100,000 adults .. 24.2 24.1 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.1 6.6 4.7 Lending-deposit spread (%) 8.3 6.5 6.1 Non-interest income to total income (%) 24.0 26.8 34.7 Overhead costs to total assets (%) 3.9 3.5 4.7 Return on average assets (%) 1.7 4.3 3.9 Return on average equity (%) 18.8 29.4 19.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.8 15.5 26.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 85.1 100.7 90.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 25.0 28.1 27.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 83.9 97.1 Bank deposits to GDP (%) 44.8 51.2 69.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.05 –0.07 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 38 2013 The Little Data Book on Financial Development Sub-Saharan Africa BeninLow income Gross domestic product ($ billions) 6.6 Gross national income ($ billions) 6.6 Population (millions) 8.8 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.1 15.4 22.1 Deposit money bank assets to GDP (%) 12.8 16.5 27.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 45.6 Small firms with line of credit to total small firms (%) .. .. 42.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 10.5 Adults saving at a fin. inst. to total adults (%) .. .. 7.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.1 4.4 3.4 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 44.0 41.8 52.6 Overhead costs to total assets (%) 4.1 4.1 4.7 Return on average assets (%) 1.0 0.8 1.1 Return on average equity (%) 14.0 8.5 12.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 18.6 21.3 22.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 74.3 91.3 82.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 35.3 30.4 26.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 88.7 85.4 90.7 Bank deposits to GDP (%) 14.9 17.3 26.6 H-statistic .. .. .. Lerner index 0.25 0.14 0.33 Boone indicator 0.00 0.01 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 39 Bermuda High income Gross domestic product ($ billions) 5.8 Gross national income ($ billions) .. Population (thousands) 64 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.6 2.0 1.8 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. 52.0 38.3 Overhead costs to total assets (%) 1.9 2.7 2.9 Return on average assets (%) 0.8 1.9 0.1 Return on average equity (%) 19.1 23.9 0.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.1 8.9 11.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 97.9 85.4 94.0 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.23 –0.12 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 3.54 3.46 2.18 40 2013 The Little Data Book on Financial Development South Asia Bhutan Lower middle income Gross domestic product ($ billions) 1.5 Gross national income ($ billions) 1.4 Population (thousands) 726 Inflation (%) 7.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.5 16.3 36.0 Deposit money bank assets to GDP (%) 10.6 23.1 37.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 10.2 .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 58.6 Small firms with line of credit to total small firms (%) .. .. 54.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. 3.1 Lending-deposit spread (%) 7.8 9.5 .. Non-interest income to total income (%) .. .. 23.4 Overhead costs to total assets (%) .. .. 1.0 Return on average assets (%) 1.5 1.3 1.2 Return on average equity (%) 23.8 15.5 17.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.6 20.4 17.6 Bank non-performing loans to gross loans (%) .. .. 5.2 Bank capital to total assets (%) .. .. 9.3 Bank credit to bank deposits (%) 20.2 40.6 64.7 Regulatory capital to risk-weighted assets (%) .. .. 15.9 Liquid assets to deposits and short term funding (%) 85.4 74.9 64.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. 100.0 Bank deposits to GDP (%) 42.4 43.0 62.5 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.05 –0.02 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.24 .. .. The Little Data Book on Financial Development 2013 41 Bolivia Latin America & Caribbean Lower middle income Gross domestic product ($ billions) 19.6 Gross national income ($ billions) 18.8 Population (millions) 9.9 Inflation (%) 2.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 59.7 39.1 32.5 Deposit money bank assets to GDP (%) 61.8 43.2 34.2 Non-bank financial institutions’ assets to GDP (%) .. 19.6 14.1 Depth—Financial Markets Stock market capitalization to GDP (%) 14.2 21.8 15.5 Stock market total value traded to GDP (%) 0.4 0.0 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 50.1 49.1 Small firms with line of credit to total small firms (%) .. 38.8 33.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 28.0 Adults saving at a fin. inst. to total adults (%) .. .. 17.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 16.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.8 4.0 2.6 Lending-deposit spread (%) 23.6 11.7 8.9 Non-interest income to total income (%) 28.6 48.7 47.5 Overhead costs to total assets (%) 5.1 6.6 4.7 Return on average assets (%) –0.9 0.6 1.4 Return on average equity (%) –9.6 5.4 16.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 5.0 0.1 0.5 Stability—Financial Institutions Bank Z-score 8.2 11.8 24.9 Bank non-performing loans to gross loans (%) .. 11.3 2.2 Bank capital to total assets (%) .. 11.3 8.4 Bank credit to bank deposits (%) 127.2 106.0 75.2 Regulatory capital to risk-weighted assets (%) .. 14.6 11.9 Liquid assets to deposits and short term funding (%) 8.2 11.6 20.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 47.4 50.3 57.1 Bank deposits to GDP (%) 45.9 36.0 38.3 H-statistic .. .. 0.7 Lerner index 0.14 0.16 0.27 Boone indicator –0.04 –0.14 –0.10 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.04 0.04 42 2013 The Little Data Book on Financial Development Bosnia and Herzegovina Europe & Central Asia Upper middle income Gross domestic product ($ billions) 16.6 Gross national income ($ billions) 16.9 Population (millions) 3.8 Inflation (%) 2.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 47.6 56.8 Deposit money bank assets to GDP (%) .. 47.9 57.7 Non-bank financial institutions’ assets to GDP (%) .. 0.0 0.0 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 573 914 Bank branches per 100,000 adults .. 27.0 30.9 Firms with line of credit to total firms (all firms) (%) .. .. 65.0 Small firms with line of credit to total small firms (%) .. .. 54.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 56.2 Adults saving at a fin. inst. to total adults (%) .. .. 6.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 13.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.9 3.6 3.3 Lending-deposit spread (%) 15.8 6.0 4.7 Non-interest income to total income (%) 50.5 41.7 35.5 Overhead costs to total assets (%) 6.6 3.8 3.4 Return on average assets (%) 0.7 0.7 –0.6 Return on average equity (%) 4.1 7.3 –4.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 23.6 12.6 20.7 Bank non-performing loans to gross loans (%) .. 5.3 11.4 Bank capital to total assets (%) .. 14.4 17.6 Bank credit to bank deposits (%) 598.1 325.4 354.8 Regulatory capital to risk-weighted assets (%) .. 17.8 16.2 Liquid assets to deposits and short term funding (%) 57.6 45.0 28.9 Stability—Financial Markets Volatility of stock price index .. 23.2 17.5 Other Indicators—Financial Institutions Bank concentration (%) 46.3 47.4 46.9 Bank deposits to GDP (%) .. 15.4 15.7 H-statistic .. .. .. Lerner index .. 0.21 0.25 Boone indicator –0.03 –0.02 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 43 Botswana Sub-Saharan Africa Upper middle income Gross domestic product ($ billions) 14.9 Gross national income ($ billions) 14.7 Population (millions) 2.0 Inflation (%) 6.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 13.8 18.3 22.3 Deposit money bank assets to GDP (%) 15.6 19.6 23.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 17.3 23.3 29.1 Stock market total value traded to GDP (%) 0.7 0.4 0.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 345 507 Bank branches per 100,000 adults .. 6.4 9.1 Firms with line of credit to total firms (all firms) (%) .. 27.2 50.0 Small firms with line of credit to total small firms (%) .. 20.8 40.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 30.3 Adults saving at a fin. inst. to total adults (%) .. .. 16.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 5.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.0 1.7 3.8 Lending-deposit spread (%) 6.1 6.5 5.9 Non-interest income to total income (%) 33.0 37.7 32.3 Overhead costs to total assets (%) 4.2 4.2 3.5 Return on average assets (%) 4.0 4.0 2.8 Return on average equity (%) 46.0 59.5 36.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 3.3 1.9 5.0 Stability—Financial Institutions Bank Z-score 14.6 12.3 11.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 64.7 71.9 44.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 31.5 28.7 25.9 Stability—Financial Markets Volatility of stock price index .. 24.9 14.9 Other Indicators—Financial Institutions Bank concentration (%) 96.6 74.4 67.8 Bank deposits to GDP (%) 23.5 24.7 58.1 H-statistic .. .. .. Lerner index 0.32 0.28 0.19 Boone indicator 0.00 –0.07 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.09 0.10 0.10 44 2013 The Little Data Book on Financial Development Latin America & Caribbean Brazil Upper middle income Gross domestic product ($ billions) 2,143.0 Gross national income ($ billions) 2,104.4 Population (millions) 194.9 Inflation (%) 5.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 29.5 28.0 46.9 Deposit money bank assets to GDP (%) 62.9 65.7 82.5 Non-bank financial institutions’ assets to GDP (%) 1.5 1.0 2.7 Depth—Financial Markets Stock market capitalization to GDP (%) 35.1 49.5 67.3 Stock market total value traded to GDP (%) 14.5 15.1 38.4 Outstanding domestic private debt securities to GDP (%) 8.4 12.7 24.0 Outstanding domestic public debt securities to GDP (%) 38.7 44.7 44.7 Outstanding international debt securities to GDP (%) 12.9 13.6 8.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 13.1 13.8 Firms with line of credit to total firms (all firms) (%) .. .. 65.3 Small firms with line of credit to total small firms (%) .. .. 42.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 55.9 Adults saving at a fin. inst. to total adults (%) .. .. 10.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 55.1 48.8 50.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 53.8 47.6 44.6 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.5 4.2 1.7 Lending-deposit spread (%) 39.6 37.8 31.1 Non-interest income to total income (%) 31.8 21.0 25.5 Overhead costs to total assets (%) 6.3 4.8 3.3 Return on average assets (%) 1.0 1.8 1.1 Return on average equity (%) 9.0 16.0 10.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 29.6 35.3 78.5 Stability—Financial Institutions Bank Z-score 18.4 20.2 11.4 Bank non-performing loans to gross loans (%) .. 3.5 3.1 Bank capital to total assets (%) .. 10.5 11.1 Bank credit to bank deposits (%) 71.4 59.2 93.2 Regulatory capital to risk-weighted assets (%) .. 17.9 17.6 Liquid assets to deposits and short term funding (%) 60.0 66.2 70.1 Stability—Financial Markets Volatility of stock price index 37.1 28.0 38.5 Other Indicators—Financial Institutions Bank concentration (%) 29.8 30.8 49.0 Bank deposits to GDP (%) 40.5 47.2 66.4 H-statistic .. .. 0.8 Lerner index 0.14 0.22 0.22 Boone indicator –0.08 –0.10 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.02 0.02 The Little Data Book on Financial Development 2013 45 Brunei Darussalam High income Gross domestic product ($ billions) 12.4 Gross national income ($ billions) 10.8 Population (thousands) 399 Inflation (%) 0.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 53.7 39.7 45.2 Deposit money bank assets to GDP (%) 54.7 40.5 47.2 Non-bank financial institutions’ assets to GDP (%) .. 0.0 0.0 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.4 3.3 .. Lending-deposit spread (%) .. 4.5 5.0 Non-interest income to total income (%) 39.3 23.9 39.5 Overhead costs to total assets (%) .. .. .. Return on average assets (%) –1.0 0.9 1.8 Return on average equity (%) –12.4 14.0 19.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 4.4 4.6 6.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 62.8 74.7 77.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 40.0 30.7 51.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 .. Bank deposits to GDP (%) 78.6 55.5 47.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.06 –0.05 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 46 2013 The Little Data Book on Financial Development Europe & Central Asia Bulgaria Upper middle income Gross domestic product ($ billions) 47.7 Gross national income ($ billions) 46.2 Population (millions) 7.5 Inflation (%) 2.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.3 35.6 63.7 Deposit money bank assets to GDP (%) 15.6 41.0 40.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 4.8 13.5 14.7 Stock market total value traded to GDP (%) 0.4 3.2 0.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 37.5 10.9 5.4 Access—Financial Institutions Bank accounts per 1,000 adults .. 1,466 1,958 Bank branches per 100,000 adults .. 84.8 91.2 Firms with line of credit to total firms (all firms) (%) .. 44.1 40.2 Small firms with line of credit to total small firms (%) .. 39.2 33.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 52.8 Adults saving at a fin. inst. to total adults (%) .. .. 4.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.3 3.7 3.9 Lending-deposit spread (%) 8.2 5.6 7.1 Non-interest income to total income (%) 38.8 31.7 26.3 Overhead costs to total assets (%) 4.4 3.0 2.5 Return on average assets (%) 3.7 1.8 0.8 Return on average equity (%) 18.7 16.4 6.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 7.2 35.6 3.9 Stability—Financial Institutions Bank Z-score 9.3 6.6 14.2 Bank non-performing loans to gross loans (%) .. 2.2 11.9 Bank capital to total assets (%) .. 7.4 10.5 Bank credit to bank deposits (%) 54.0 95.3 156.8 Regulatory capital to risk-weighted assets (%) .. 15.3 17.5 Liquid assets to deposits and short term funding (%) 89.3 45.9 22.3 Stability—Financial Markets Volatility of stock price index 48.1 20.7 29.7 Other Indicators—Financial Institutions Bank concentration (%) 71.9 41.1 41.2 Bank deposits to GDP (%) 21.0 37.4 76.6 H-statistic .. .. 0.3 Lerner index 0.29 0.22 0.27 Boone indicator –0.56 –0.51 –0.51 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.62 0.43 0.52 The Little Data Book on Financial Development 2013 47 Burkina Faso Sub-Saharan Africa Low income Gross domestic product ($ billions) 8.8 Gross national income ($ billions) 8.8 Population (millions) 16.5 Inflation (%) –0.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 10.8 15.2 16.5 Deposit money bank assets to GDP (%) 12.1 16.2 18.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 28.4 Small firms with line of credit to total small firms (%) .. .. 21.4 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 13.4 Adults saving at a fin. inst. to total adults (%) .. .. 7.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.9 6.0 3.9 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 45.2 39.4 53.7 Overhead costs to total assets (%) 5.0 5.2 4.0 Return on average assets (%) 0.2 0.9 0.6 Return on average equity (%) 2.5 10.1 9.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.4 10.7 5.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 89.5 118.1 74.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 22.5 18.5 19.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 69.5 54.7 90.6 Bank deposits to GDP (%) 12.3 14.3 20.8 H-statistic .. .. .. Lerner index 0.28 0.32 0.28 Boone indicator –0.05 –0.05 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 48 2013 The Little Data Book on Financial Development Sub-Saharan Africa Burundi Low income Gross domestic product ($ billions) 2.0 Gross national income ($ billions) 2.0 Population (millions) 8.4 Inflation (%) 6.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 17.3 20.9 20.0 Deposit money bank assets to GDP (%) 19.1 23.2 25.3 Non-bank financial institutions’ assets to GDP (%) 4.5 2.7 0.1 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 35.3 .. Small firms with line of credit to total small firms (%) .. 28.9 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 7.2 Adults saving at a fin. inst. to total adults (%) .. .. 3.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 11.3 5.7 3.1 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. 48.4 Overhead costs to total assets (%) 5.1 5.3 5.5 Return on average assets (%) 3.7 2.2 2.6 Return on average equity (%) 28.5 18.0 20.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 16.5 12.7 13.5 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 143.5 83.6 71.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 24.4 45.1 42.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 92.5 100.0 90.0 Bank deposits to GDP (%) 13.3 22.4 34.6 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 0.05 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 49 Cambodia East Asia & Pacific Low income Gross domestic product ($ billions) 11.2 Gross national income ($ billions) 10.7 Population (millions) 14.1 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.9 8.2 25.1 Deposit money bank assets to GDP (%) 5.9 8.6 25.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 108 Bank branches per 100,000 adults .. 2.2 4.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 3.7 Adults saving at a fin. inst. to total adults (%) .. .. 0.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 19.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.0 6.1 6.3 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 42.7 34.6 26.6 Overhead costs to total assets (%) 1.3 2.0 Return on average assets (%) 1.9 1.9 1.1 Return on average equity (%) 8.5 11.2 6.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.1 13.7 14.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 67.2 62.6 73.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 76.3 68.7 53.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 61.1 64.1 Bank deposits to GDP (%) 8.1 13.3 38.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –0.19 –0.35 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 50 2013 The Little Data Book on Financial Development Sub-Saharan African Cameroon Lower middle income Gross domestic product ($ billions) 22.5 Gross national income ($ billions) 22.3 Population (millions) 19.6 Inflation (%) 1.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 7.7 9.0 11.1 Deposit money bank assets to GDP (%) 11.4 11.4 13.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 12 36 72 Bank branches per 100,000 adults 0.8 1.0 1.4 Firms with line of credit to total firms (all firms) (%) .. .. 30.3 Small firms with line of credit to total small firms (%) .. .. 19.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 14.8 Adults saving at a fin. inst. to total adults (%) .. .. 9.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.1 4.5 4.5 Lending-deposit spread (%) 17.0 12.8 .. Non-interest income to total income (%) 82.3 49.2 35.9 Overhead costs to total assets (%) 5.6 3.1 3.8 Return on average assets (%) 1.3 1.3 1.0 Return on average equity (%) 17.9 14.5 15.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 16.7 20.4 19.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 73.9 67.4 61.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 26.7 37.6 41.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 70.7 53.9 76.1 Bank deposits to GDP (%) 10.1 13.2 17.7 H-statistic .. .. 0.7 Lerner index 0.47 0.48 0.41 Boone indicator –0.02 –0.01 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 51 Canada High income Gross domestic product ($ billions) 1,577.0 Gross national income ($ billions) 1,549.7 Population (millions) 34.1 Inflation (%) 1.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 74.3 119.5 126.6 Deposit money bank assets to GDP (%) 83.5 130.1 140.7 Non-bank financial institutions’ assets to GDP (%) 24.6 60.3 .. Depth—Financial Markets Stock market capitalization to GDP (%) 113.5 121.5 127.9 Stock market total value traded to GDP (%) 67.9 68.5 87.2 Outstanding domestic private debt securities to GDP (%) 30.4 31.8 27.9 Outstanding domestic public debt securities to GDP (%) 61.1 54.6 64.5 Outstanding international debt securities to GDP (%) 28.9 28.0 40.7 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 34.6 24.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 95.8 Adults saving at a fin. inst. to total adults (%) .. .. 53.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 20.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 42.2 23.0 25.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 66.4 75.9 76.3 Corporate bonds to total bonds and notes outstanding (%) 22.6 31.2 29.6 Efficiency—Financial Institutions Net interest margin (%) 2.4 1.7 1.8 Lending-deposit spread (%) 3.8 3.6 2.6 Non-interest income to total income (%) 43.8 52.6 45.4 Overhead costs to total assets (%) 1.8 1.9 2.5 Return on average assets (%) –0.1 0.8 0.8 Return on average equity (%) –1.0 8.6 10.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 68.8 61.3 73.7 Stability—Financial Institutions Bank Z-score 17.1 19.0 24.7 Bank non-performing loans to gross loans (%) .. 0.5 1.2 Bank capital to total assets (%) .. 4.7 4.7 Bank credit to bank deposits (%) 108.5 84.6 204.0 Regulatory capital to risk-weighted assets (%) .. 12.9 15.6 Liquid assets to deposits and short term funding (%) 31.4 37.8 36.4 Stability—Financial Markets Volatility of stock price index 24.6 14.7 31.1 Other Indicators—Financial Institutions Bank concentration (%) 39.1 55.5 51.8 Bank deposits to GDP (%) 67.7 142.8 103.6 H-statistic .. .. 0.7 Lerner index 0.17 0.17 0.24 Boone indicator 0.02 0.00 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.46 1.15 1.11 52 2013 The Little Data Book on Financial Development Sub-Saharan Africa Cape Verde Lower middle income Gross domestic product ($ billions) 1.7 Gross national income ($ billions) 1.6 Population (thousands) 496 Inflation (%) 2.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 37.5 43.3 59.2 Deposit money bank assets to GDP (%) 46.9 60.9 74.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 41.5 Small firms with line of credit to total small firms (%) .. .. 38.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. 4.5 Lending-deposit spread (%) 7.6 8.9 7.9 Non-interest income to total income (%) .. .. 22.4 Overhead costs to total assets (%) .. .. 3.3 Return on average assets (%) 0.4 0.6 1.0 Return on average equity (%) 4.4 7.3 15.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 24.7 24.9 41.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 70.4 60.2 63.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 42.4 44.7 11.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. 100.0 Bank deposits to GDP (%) 50.5 69.3 75.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 0.02 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 53 Cayman Islands High income Gross domestic product ($ billions) .. Gross national income ($ millions) .. Population (thousands) 56 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.8 0.3 0.5 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 6.7 33.8 37.2 Overhead costs to total assets (%) 1.8 0.8 2.2 Return on average assets (%) 1.1 1.2 0.1 Return on average equity (%) 14.5 9.4 1.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 20.4 17.4 34.7 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 55.7 85.5 91.1 Bank deposits to GDP (%) .. .. .. H-statistic .. .. 0.8 Lerner index 0.25 0.38 0.33 Boone indicator –0.06 –0.03 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.25 0.19 .. 54 2013 The Little Data Book on Financial Development Central African Republic Sub-Saharan Africa Low income Gross domestic product ($ billions) 2.0 Gross national income ($ billions) 2.0 Population (millions) 4.4 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 4.4 6.9 7.4 Deposit money bank assets to GDP (%) 7.3 8.8 9.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 1 3 3 Bank branches per 100,000 adults 0.4 0.4 0.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 3.3 Adults saving at a fin. inst. to total adults (%) .. .. 2.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 0.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 17.0 12.8 .. Non-interest income to total income (%) .. 0.1 44.8 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 1.6 0.9 1.7 Return on average equity (%) 18.1 7.7 21.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 3.5 4.5 7.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 138.6 125.7 102.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 23.2 18.3 29.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 3.8 4.7 8.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 55 Chad Sub-Saharan Africa Low income Gross domestic product ($ billions) 8.5 Gross national income ($ billions) 7.9 Population (millions) 11.2 Inflation (%) –1.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 3.4 3.1 5.0 Deposit money bank assets to GDP (%) 5.3 5.0 7.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 6 7 24 Bank branches per 100,000 adults 0.3 0.4 0.6 Firms with line of credit to total firms (all firms) (%) .. .. 20.6 Small firms with line of credit to total small firms (%) .. .. 25.4 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 9.0 Adults saving at a fin. inst. to total adults (%) .. .. 6.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 6.1 6.5 .. Lending-deposit spread (%) 17.0 12.8 .. Non-interest income to total income (%) 51.8 45.1 .. Overhead costs to total assets (%) 3.8 3.6 .. Return on average assets (%) 1.0 2.3 2.5 Return on average equity (%) 7.0 22.8 27.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.7 13.4 9.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 86.7 94.2 80.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 31.1 25.3 16.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 .. Bank deposits to GDP (%) 3.6 3.3 6.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.02 0.00 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 56 2013 The Little Data Book on Financial Development Latin America & Caribbean Chile Upper middle income Gross domestic product ($ billions) 216.3 Gross national income ($ billions) 201.6 Population (millions) 17.1 Inflation (%) 1.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 59.6 62.2 68.9 Deposit money bank assets to GDP (%) 60.6 63.2 70.5 Non-bank financial institutions’ assets to GDP (%) 9.2 14.8 4.4 Depth—Financial Markets Stock market capitalization to GDP (%) 83.3 109.6 129.5 Stock market total value traded to GDP (%) 8.4 13.0 21.6 Outstanding domestic private debt securities to GDP (%) 17.0 20.1 18.0 Outstanding domestic public debt securities to GDP (%) 26.9 17.4 9.5 Outstanding international debt securities to GDP (%) 6.6 9.5 6.7 Access—Financial Institutions Bank accounts per 1,000 adults .. 1,425 2,134 Bank branches per 100,000 adults .. 13.1 17.6 Firms with line of credit to total firms (all firms) (%) .. 69.1 79.6 Small firms with line of credit to total small firms (%) .. 64.6 72.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 42.2 Adults saving at a fin. inst. to total adults (%) .. .. 12.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.8 49.6 54.1 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 59.9 54.4 53.3 Corporate bonds to total bonds and notes outstanding (%) 42.6 60.4 66.3 Efficiency—Financial Institutions Net interest margin (%) 0.1 0.0 –0.8 Lending-deposit spread (%) 5.6 2.7 3.0 Non-interest income to total income (%) 22.4 28.6 .. Overhead costs to total assets (%) 2.9 2.6 .. Return on average assets (%) 1.4 1.6 0.7 Return on average equity (%) 15.6 18.5 6.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 7.2 11.7 19.7 Stability—Financial Institutions Bank Z-score 28.9 29.3 10.7 Bank non-performing loans to gross loans (%) .. 0.9 2.7 Bank capital to total assets (%) .. 7.1 8.3 Bank credit to bank deposits (%) 125.5 133.5 143.8 Regulatory capital to risk-weighted assets (%) .. 13.0 14.1 Liquid assets to deposits and short term funding (%) 31.9 21.7 43.7 Stability—Financial Markets Volatility of stock price index 18.7 16.2 22.7 Other Indicators—Financial Institutions Bank concentration (%) 38.4 54.9 .. Bank deposits to GDP (%) 48.7 46.1 55.2 H-statistic .. .. .. Lerner index 0.23 0.32 0.31 Boone indicator –0.08 –0.05 0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.17 0.15 0.13 The Little Data Book on Financial Development 2013 57 China East Asia & Pacific Upper middle income Gross domestic product ($ billions) 5,930.5 Gross national income ($ billions) 5,956.3 Population (millions) 1,337.8 Inflation (%) 3.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 107.2 110.3 120.3 Deposit money bank assets to GDP (%) 114.0 120.8 130.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 38.3 32.1 83.8 Stock market total value traded to GDP (%) 46.2 30.3 145.8 Outstanding domestic private debt securities to GDP (%) 7.1 10.7 21.5 Outstanding domestic public debt securities to GDP (%) 8.1 23.7 26.4 Outstanding international debt securities to GDP (%) 1.5 1.2 1.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 63.8 Adults saving at a fin. inst. to total adults (%) .. .. 32.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 5.8 16.1 8.4 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 85.7 74.9 76.7 Corporate bonds to total bonds and notes outstanding (%) 45.3 44.2 56.6 Efficiency—Financial Institutions Net interest margin (%) 1.9 2.1 2.1 Lending-deposit spread (%) 3.6 3.3 3.1 Non-interest income to total income (%) 11.4 12.3 14.8 Overhead costs to total assets (%) 1.0 1.1 1.0 Return on average assets (%) 0.3 0.4 1.0 Return on average equity (%) 4.2 14.2 16.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 146.8 80.8 186.5 Stability—Financial Institutions Bank Z-score 31.8 14.4 38.0 Bank non-performing loans to gross loans (%) .. 8.6 1.1 Bank capital to total assets (%) .. 4.4 6.1 Bank credit to bank deposits (%) 288.5 251.4 235.1 Regulatory capital to risk-weighted assets (%) .. 2.5 12.2 Liquid assets to deposits and short term funding (%) 25.9 19.9 19.8 Stability—Financial Markets Volatility of stock price index 37.0 21.8 30.2 Other Indicators—Financial Institutions Bank concentration (%) 55.4 61.2 49.1 Bank deposits to GDP (%) 36.0 43.3 51.0 H-statistic .. .. 0.6 Lerner index 0.28 0.35 0.38 Boone indicator –0.03 –0.02 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 0.01 0.02 58 2013 The Little Data Book on Financial Development Latin America & Caribbean Colombia Upper middle income Gross domestic product ($ billions) 288.8 Gross national income ($ billions) 276.8 Population (millions) 46.3 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 22.2 23.3 30.0 Deposit money bank assets to GDP (%) 27.8 33.4 38.0 Non-bank financial institutions’ assets to GDP (%) 2.5 0.9 15.3 Depth—Financial Markets Stock market capitalization to GDP (%) 9.8 25.6 62.5 Stock market total value traded to GDP (%) 0.5 2.7 6.5 Outstanding domestic private debt securities to GDP (%) 0.2 0.5 0.5 Outstanding domestic public debt securities to GDP (%) 14.1 25.3 24.2 Outstanding international debt securities to GDP (%) 7.6 10.0 8.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 52.3 57.2 Small firms with line of credit to total small firms (%) .. 41.2 50.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 30.4 Adults saving at a fin. inst. to total adults (%) .. .. 9.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. 74.5 86.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. 37.2 20.7 Corporate bonds to total bonds and notes outstanding (%) 3.2 10.3 29.6 Efficiency—Financial Institutions Net interest margin (%) 3.9 3.3 3.6 Lending-deposit spread (%) 6.6 7.5 5.7 Non-interest income to total income (%) 73.5 58.5 43.2 Overhead costs to total assets (%) 9.3 5.5 4.3 Return on average assets (%) –1.9 2.5 2.0 Return on average equity (%) –17.7 20.5 15.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.9 17.0 16.0 Stability—Financial Institutions Bank Z-score 8.7 12.8 16.0 Bank non-performing loans to gross loans (%) .. 2.7 2.9 Bank capital to total assets (%) .. 14.0 14.3 Bank credit to bank deposits (%) 92.7 146.8 232.6 Regulatory capital to risk-weighted assets (%) .. 17.1 17.3 Liquid assets to deposits and short term funding (%) 25.2 30.4 19.5 Stability—Financial Markets Volatility of stock price index 26.0 25.9 26.1 Other Indicators—Financial Institutions Bank concentration (%) 29.3 41.4 48.1 Bank deposits to GDP (%) 22.6 15.1 22.1 H-statistic .. .. 0.8 Lerner index 0.12 0.33 0.37 Boone indicator 0.21 –0.02 0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.03 0.02 The Little Data Book on Financial Development 2013 59 Comoros Sub-Saharan Africa Low income Gross domestic product ($ millions) 541.1 Gross national income ($ millions) 538.8 Population (thousands) 735 Inflation (%) –0.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.3 7.5 12.2 Deposit money bank assets to GDP (%) 8.7 8.0 13.9 Non-bank financial institutions’ assets to GDP (%) 3.1 0.8 0.2 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 0 59 77 Bank branches per 100,000 adults 0.9 0.5 1.5 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 21.7 Adults saving at a fin. inst. to total adults (%) .. .. 10.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 9.0 8.0 8.8 Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 168.5 58.5 73.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 4.6 13.8 18.0 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 60 2013 The Little Data Book on Financial Development Sub-Saharan Africa Congo, Dem. Rep. Low income Gross domestic product ($ billions) 13.1 Gross national income ($ billions) 12.2 Population (millions) 66.0 Inflation (%) 28.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 1.0 1.6 4.9 Deposit money bank assets to GDP (%) 1.2 2.1 5.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 5.0 10.7 Small firms with line of credit to total small firms (%) .. 4.0 9.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 3.7 Adults saving at a fin. inst. to total adults (%) .. .. 1.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 21.4 8.6 10.0 Lending-deposit spread (%) .. 32.6 39.7 Non-interest income to total income (%) 42.1 57.8 48.8 Overhead costs to total assets (%) 10.3 12.7 9.7 Return on average assets (%) 0.6 1.8 0.5 Return on average equity (%) 2.4 19.1 4.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 14.1 8.9 10.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 35.2 44.5 53.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 51.4 66.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 93.0 61.6 67.9 Bank deposits to GDP (%) 2.8 3.9 13.9 H-statistic .. .. .. Lerner index 0.26 0.15 0.22 Boone indicator –0.01 –0.20 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 61 Congo, Rep. Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) 12.0 Gross national income ($ billions) 9.0 Population (millions) 4.0 Inflation (%) 4.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.7 2.3 4.1 Deposit money bank assets to GDP (%) 7.2 3.1 4.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 15.9 .. .. Access—Financial Institutions Bank accounts per 1,000 adults 0 5 20 Bank branches per 100,000 adults 1.3 1.8 2.4 Firms with line of credit to total firms (all firms) (%) .. .. 12.8 Small firms with line of credit to total small firms (%) .. .. 7.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 9.0 Adults saving at a fin. inst. to total adults (%) .. .. 5.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 2.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. 3.5 Lending-deposit spread (%) 17.0 12.8 .. Non-interest income to total income (%) 42.1 64.1 51.4 Overhead costs to total assets (%) 0.1 0.1 0.0 Return on average assets (%) .. –0.5 1.8 Return on average equity (%) .. –8.5 27.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 5.6 2.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 56.0 34.7 35.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 78.6 80.6 65.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. 100.0 Bank deposits to GDP (%) 6.5 6.0 12.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 62 2013 The Little Data Book on Financial Development Latin America & Caribbean Costa Rica Upper middle income Gross domestic product ($ billions) 36.2 Gross national income ($ billions) 35.2 Population (millions) 4.7 Inflation (%) 5.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 21.4 31.4 45.2 Deposit money bank assets to GDP (%) 24.7 39.7 50.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 15.9 7.0 4.2 Stock market total value traded to GDP (%) 2.0 0.2 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.4 9.0 4.0 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. 19.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 50.4 Adults saving at a fin. inst. to total adults (%) .. .. 19.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.4 4.9 3.2 Lending-deposit spread (%) 11.5 14.5 11.8 Non-interest income to total income (%) 26.9 28.6 34.4 Overhead costs to total assets (%) 5.5 5.1 4.1 Return on average assets (%) 1.6 1.9 0.7 Return on average equity (%) 14.7 17.7 5.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.7 1.8 4.2 Stability—Financial Institutions Bank Z-score 22.1 23.2 21.3 Bank non-performing loans to gross loans (%) .. 1.4 1.9 Bank capital to total assets (%) .. 13.4 14.4 Bank credit to bank deposits (%) 170.9 159.1 253.9 Regulatory capital to risk-weighted assets (%) .. 18.4 17.7 Liquid assets to deposits and short term funding (%) 12.2 15.2 18.4 Stability—Financial Markets Volatility of stock price index 26.3 19.2 22.0 Other Indicators—Financial Institutions Bank concentration (%) 55.3 51.3 47.0 Bank deposits to GDP (%) 12.1 20.2 24.8 H-statistic .. .. 0.7 Lerner index 0.11 0.18 0.15 Boone indicator –0.05 –0.08 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.04 0.02 The Little Data Book on Financial Development 2013 63 Côte d'Ivoire Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) 22.9 Gross national income ($ billions) 21.9 Population (millions) 19.7 Inflation (%) 1.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 15.2 13.7 17.3 Deposit money bank assets to GDP (%) 20.0 17.0 21.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 12.2 13.6 28.2 Stock market total value traded to GDP (%) 0.5 0.2 0.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 11.4 7.4 8.0 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 11.5 Small firms with line of credit to total small firms (%) .. .. 10.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.9 4.5 3.9 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 42.7 50.1 49.2 Overhead costs to total assets (%) 5.3 6.1 4.9 Return on average assets (%) 0.9 0.3 1.4 Return on average equity (%) 10.6 2.8 19.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.2 1.4 2.3 Stability—Financial Institutions Bank Z-score 9.8 12.3 9.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 112.2 89.9 81.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 20.8 26.2 22.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 76.0 57.5 64.4 Bank deposits to GDP (%) 14.2 15.0 20.5 H-statistic .. .. .. Lerner index 0.29 0.29 0.31 Boone indicator –0.04 0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.02 0.02 64 2013 The Little Data Book on Financial Development Croatia High income Gross domestic product ($ billions) 60.9 Gross national income ($ billions) 58.8 Population (millions) 4.4 Inflation (%) 1.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 31.0 48.8 68.3 Deposit money bank assets to GDP (%) 42.7 61.1 86.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 11.6 26.8 40.9 Stock market total value traded to GDP (%) 0.6 1.4 2.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 9.0 14.6 18.8 Outstanding international debt securities to GDP (%) 13.1 16.0 12.3 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 67.3 .. Small firms with line of credit to total small firms (%) .. 60.2 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 88.4 Adults saving at a fin. inst. to total adults (%) .. .. 12.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 14.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.5 2.9 2.8 Lending-deposit spread (%) 8.3 9.5 8.6 Non-interest income to total income (%) 40.9 33.6 28.5 Overhead costs to total assets (%) 3.7 2.4 2.2 Return on average assets (%) 1.4 1.3 0.9 Return on average equity (%) 12.7 14.2 6.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 6.7 6.6 4.9 Stability—Financial Institutions Bank Z-score 31.5 25.5 38.5 Bank non-performing loans to gross loans (%) .. 6.2 11.2 Bank capital to total assets (%) .. 9.0 13.9 Bank credit to bank deposits (%) 86.1 97.6 92.3 Regulatory capital to risk-weighted assets (%) .. 15.2 18.8 Liquid assets to deposits and short term funding (%) 55.7 45.1 23.4 Stability—Financial Markets Volatility of stock price index .. 23.6 33.4 Other Indicators—Financial Institutions Bank concentration (%) 61.7 63.0 57.6 Bank deposits to GDP (%) 32.8 51.3 77.2 H-statistic .. .. 0.4 Lerner index 0.18 0.23 0.19 Boone indicator –0.05 –0.07 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.14 0.33 0.54 The Little Data Book on Financial Development 2013 65 Cuba Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 60.8 Gross national income ($ billions) 59.9 Population (millions) 11.3 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.6 1.3 1.2 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 58.8 25.0 70.1 Overhead costs to total assets (%) 3.0 0.3 0.2 Return on average assets (%) 2.7 0.7 0.8 Return on average equity (%) 30.7 13.3 8.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 18.3 5.3 5.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 95.6 100.0 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.05 –0.01 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 66 2013 The Little Data Book on Financial Development Cyprus High income Gross domestic product ($ billions) 23.1 Gross national income ($ billions) 22.5 Population (millions) 1.1 Inflation (%) 2.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 153.7 157.2 270.8 Deposit money bank assets to GDP (%) 170.3 180.4 296.6 Non-bank financial institutions’ assets to GDP (%) 48.4 42.9 .. Depth—Financial Markets Stock market capitalization to GDP (%) 56.0 33.4 24.9 Stock market total value traded to GDP (%) 80.4 1.7 3.3 Outstanding domestic private debt securities to GDP (%) .. 6.0 6.0 Outstanding domestic public debt securities to GDP (%) .. 35.7 19.0 Outstanding international debt securities to GDP (%) 13.8 27.8 62.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 85.2 Adults saving at a fin. inst. to total adults (%) .. .. 30.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 27.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. 80.7 95.0 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. 20.9 17.1 Corporate bonds to total bonds and notes outstanding (%) .. 19.5 22.9 Efficiency—Financial Institutions Net interest margin (%) 2.1 2.1 2.6 Lending-deposit spread (%) 1.5 3.3 .. Non-interest income to total income (%) 81.9 39.9 30.9 Overhead costs to total assets (%) 7.5 2.1 1.8 Return on average assets (%) 3.0 1.1 0.7 Return on average equity (%) 25.8 20.6 8.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 155.0 7.2 12.4 Stability—Financial Institutions Bank Z-score 9.9 2.6 7.9 Bank non-performing loans to gross loans (%) .. .. 5.6 Bank capital to total assets (%) .. .. 5.9 Bank credit to bank deposits (%) 100.6 93.0 100.4 Regulatory capital to risk-weighted assets (%) .. .. 12.5 Liquid assets to deposits and short term funding (%) 50.9 27.0 49.3 Stability—Financial Markets Volatility of stock price index .. 18.1 48.7 Other Indicators—Financial Institutions Bank concentration (%) 74.5 68.3 82.9 Bank deposits to GDP (%) 153.3 166.8 260.1 H-statistic .. .. 1.3 Lerner index 0.21 0.23 0.34 Boone indicator 0.09 0.13 0.09 Other Indicators—Financial Markets Number of listed firms per 10,000 people 1.27 1.39 1.11 The Little Data Book on Financial Development 2013 67 Czech Republic High income Gross domestic product ($ billions) 197.7 Gross national income ($ billions) 184.3 Population (millions) 10.5 Inflation (%) 1.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 49.1 33.1 50.2 Deposit money bank assets to GDP (%) 53.9 48.3 69.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 18.5 27.6 24.3 Stock market total value traded to GDP (%) 8.8 23.1 8.8 Outstanding domestic private debt securities to GDP (%) 7.0 6.0 13.0 Outstanding domestic public debt securities to GDP (%) 12.4 22.2 28.2 Outstanding international debt securities to GDP (%) 1.8 4.5 11.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 21.3 22.5 Firms with line of credit to total firms (all firms) (%) .. .. 46.6 Small firms with line of credit to total small firms (%) .. .. 39.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 80.7 Adults saving at a fin. inst. to total adults (%) .. .. 35.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 61.4 27.7 35.8 Efficiency—Financial Institutions Net interest margin (%) 2.3 2.2 2.6 Lending-deposit spread (%) 3.7 4.6 4.8 Non-interest income to total income (%) 40.4 42.8 30.0 Overhead costs to total assets (%) 2.5 2.4 1.7 Return on average assets (%) 0.4 1.5 1.5 Return on average equity (%) 4.8 17.9 16.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 54.1 114.3 33.7 Stability—Financial Institutions Bank Z-score 9.6 31.0 28.2 Bank non-performing loans to gross loans (%) .. 3.9 6.2 Bank capital to total assets (%) .. 5.4 6.5 Bank credit to bank deposits (%) 80.9 59.3 93.6 Regulatory capital to risk-weighted assets (%) .. 11.9 15.5 Liquid assets to deposits and short term funding (%) 67.5 44.3 30.1 Stability—Financial Markets Volatility of stock price index 27.4 22.6 34.2 Other Indicators—Financial Institutions Bank concentration (%) 59.4 62.5 61.9 Bank deposits to GDP (%) 54.2 59.0 61.9 H-statistic .. .. 0.7 Lerner index 0.11 0.18 0.33 Boone indicator –0.07 –0.09 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.13 0.04 0.02 68 2013 The Little Data Book on Financial Development Denmark High income Gross domestic product ($ billions) 312.2 Gross national income ($ billions) 319.5 Population (millions) 5.5 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 83.6 161.6 208.1 Deposit money bank assets to GDP (%) 91.8 171.8 219.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 62.2 64.2 66.0 Stock market total value traded to GDP (%) 45.4 48.6 46.1 Outstanding domestic private debt securities to GDP (%) 95.6 136.7 179.4 Outstanding domestic public debt securities to GDP (%) 48.2 39.0 32.0 Outstanding international debt securities to GDP (%) 14.8 22.1 52.0 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults 53.9 50.3 41.1 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 99.7 Adults saving at a fin. inst. to total adults (%) .. .. 56.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 18.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 68.2 82.3 84.9 Efficiency—Financial Institutions Net interest margin (%) 1.4 1.3 1.2 Lending-deposit spread (%) 4.9 .. .. Non-interest income to total income (%) 35.9 41.3 32.8 Overhead costs to total assets (%) 1.6 1.0 0.9 Return on average assets (%) 0.6 0.8 0.2 Return on average equity (%) 9.0 14.4 3.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 83.4 91.9 77.9 Stability—Financial Institutions Bank Z-score 24.7 19.8 16.5 Bank non-performing loans to gross loans (%) .. 0.2 4.1 Bank capital to total assets (%) .. 4.9 5.5 Bank credit to bank deposits (%) 289.0 293.2 311.1 Regulatory capital to risk-weighted assets (%) .. 11.5 16.0 Liquid assets to deposits and short term funding (%) 32.2 42.8 51.6 Stability—Financial Markets Volatility of stock price index .. 13.4 29.6 Other Indicators—Financial Institutions Bank concentration (%) 56.7 55.7 55.7 Bank deposits to GDP (%) 48.1 54.6 72.3 H-statistic .. .. 0.3 Lerner index 0.25 0.32 0.21 Boone indicator –0.07 –0.06 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.42 0.33 0.37 The Little Data Book on Financial Development 2013 69 Djibouti Middle East & North Africa Lower middle income Gross domestic product ($ billions) 1.0 Gross national income ($ billions) 1.1 Population (thousands) 889 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 30.1 20.0 25.9 Deposit money bank assets to GDP (%) 32.3 21.8 28.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 0 24 92 Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 12.3 Adults saving at a fin. inst. to total adults (%) .. .. 3.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 8.7 10.3 9.3 Non-interest income to total income (%) 26.5 23.6 7.8 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 1.2 1.2 0.3 Return on average equity (%) 11.6 21.3 6.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 30.5 15.7 6.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 72.4 29.9 39.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 55.4 84.4 83.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 44.1 63.5 71.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 70 2013 The Little Data Book on Financial Development Latin America & Caribbean Dominica Upper middle income Gross domestic product ($ millions) 471.9 Gross national income ($ millions) 462.5 Population (thousands) 68 Inflation (%) 3.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 49.2 46.8 53.8 Deposit money bank assets to GDP (%) 63.2 55.3 60.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 5.6 16.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 7.8 6.8 6.2 Non-interest income to total income (%) .. 48.9 39.6 Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. 0.7 –0.3 Return on average equity (%) .. 4.3 –2.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 13.6 8.3 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 90.5 66.8 57.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 57.0 21.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 57.6 70.2 99.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 71 Dominican Republic Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 51.6 Gross national income ($ billions) 49.8 Population (millions) 9.9 Inflation (%) 6.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 25.9 18.4 20.1 Deposit money bank assets to GDP (%) 28.1 21.4 24.2 Non-bank financial institutions’ assets to GDP (%) 7.2 6.0 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 3.0 3.8 3.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 38.2 Adults saving at a fin. inst. to total adults (%) .. .. 16.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 13.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 7.7 0.9 2.9 Lending-deposit spread (%) 9.1 10.2 7.3 Non-interest income to total income (%) 29.4 46.0 23.9 Overhead costs to total assets (%) 6.0 8.3 6.3 Return on average assets (%) 2.0 1.6 2.0 Return on average equity (%) 20.0 16.8 21.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 25.7 23.7 23.3 Bank non-performing loans to gross loans (%) .. 5.9 2.9 Bank capital to total assets (%) .. 9.4 9.3 Bank credit to bank deposits (%) 114.1 101.5 106.5 Regulatory capital to risk-weighted assets (%) .. 12.5 13.0 Liquid assets to deposits and short term funding (%) 32.7 42.3 22.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 52.8 57.1 64.8 Bank deposits to GDP (%) 22.8 17.4 20.9 H-statistic .. .. 0.9 Lerner index 0.17 0.11 0.16 Boone indicator –0.12 –0.14 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 72 2013 The Little Data Book on Financial Development Latin America & Caribbean Ecuador Upper middle income Gross domestic product ($ billions) 58.0 Gross national income ($ billions) 56.9 Population (millions) 14.5 Inflation (%) 3.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 34.7 20.6 26.7 Deposit money bank assets to GDP (%) 38.2 21.4 27.0 Non-bank financial institutions’ assets to GDP (%) 6.7 0.4 0.1 Depth—Financial Markets Stock market capitalization to GDP (%) 3.9 7.8 8.2 Stock market total value traded to GDP (%) 0.1 0.3 0.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 58.2 18.1 5.4 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 55.6 48.9 Small firms with line of credit to total small firms (%) .. 47.3 43.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 36.7 Adults saving at a fin. inst. to total adults (%) .. .. 14.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.5 2.7 5.4 Lending-deposit spread (%) 8.3 6.0 .. Non-interest income to total income (%) 59.3 64.8 37.1 Overhead costs to total assets (%) 7.9 6.0 5.1 Return on average assets (%) –11.8 –4.7 1.3 Return on average equity (%) 67.7 23.5 12.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 1.0 5.0 2.7 Stability—Financial Institutions Bank Z-score 17.3 20.6 22.1 Bank non-performing loans to gross loans (%) .. 5.5 3.5 Bank capital to total assets (%) .. 8.5 8.9 Bank credit to bank deposits (%) 138.9 97.1 91.8 Regulatory capital to risk-weighted assets (%) .. 19.2 18.3 Liquid assets to deposits and short term funding (%) 17.0 29.8 33.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 51.9 48.1 51.1 Bank deposits to GDP (%) 18.4 21.6 27.9 H-statistic .. .. 1.0 Lerner index –0.04 0.20 0.17 Boone indicator –0.51 –0.75 –1.61 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.02 0.03 The Little Data Book on Financial Development 2013 73 Egypt, Arab Rep. Middle East & North Africa Lower middle income Gross domestic product ($ billions) 218.9 Gross national income ($ billions) 214.5 Population (millions) 81.1 Inflation (%) 11.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 49.6 49.9 32.3 Deposit money bank assets to GDP (%) 74.3 81.3 65.1 Non-bank financial institutions’ assets to GDP (%) 7.1 6.4 .. Depth—Financial Markets Stock market capitalization to GDP (%) 30.8 66.1 39.8 Stock market total value traded to GDP (%) 10.1 17.2 20.9 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.7 2.4 3.4 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 9.7 Adults saving at a fin. inst. to total adults (%) .. .. 0.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. 52.2 45.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. 46.5 55.7 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.7 1.6 2.4 Lending-deposit spread (%) 3.8 5.9 4.8 Non-interest income to total income (%) 54.0 56.5 46.0 Overhead costs to total assets (%) 1.6 1.3 1.4 Return on average assets (%) 0.8 0.5 0.9 Return on average equity (%) 13.0 7.8 13.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 28.2 42.8 73.8 Stability—Financial Institutions Bank Z-score 22.0 20.7 24.0 Bank non-performing loans to gross loans (%) .. 26.5 11.0 Bank capital to total assets (%) .. 5.0 6.2 Bank credit to bank deposits (%) 80.4 60.8 47.1 Regulatory capital to risk-weighted assets (%) .. 13.7 16.1 Liquid assets to deposits and short term funding (%) 25.2 34.7 41.9 Stability—Financial Markets Volatility of stock price index 30.2 28.0 31.2 Other Indicators—Financial Institutions Bank concentration (%) 51.7 51.5 54.0 Bank deposits to GDP (%) 61.1 80.1 75.4 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.07 –0.06 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.16 0.10 0.03 74 2013 The Little Data Book on Financial Development Latin America & Caribbean El Salvador Lower middle income Gross domestic product ($ billions) 21.4 Gross national income ($ billions) 20.9 Population (millions) 6.2 Inflation (%) 1.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 43.5 40.5 40.4 Deposit money bank assets to GDP (%) 45.4 44.0 43.5 Non-bank financial institutions’ assets to GDP (%) 0.5 0.9 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 16.0 18.4 20.3 Stock market total value traded to GDP (%) 0.3 1.7 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.3 16.9 20.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 48.9 .. Small firms with line of credit to total small firms (%) .. 44.4 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 13.8 Adults saving at a fin. inst. to total adults (%) .. .. 12.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 6.1 5.0 4.1 Lending-deposit spread (%) 4.6 .. .. Non-interest income to total income (%) 4.5 9.5 32.0 Overhead costs to total assets (%) 3.5 2.8 3.3 Return on average assets (%) 0.5 1.1 1.2 Return on average equity (%) 5.6 9.5 8.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 1.0 2.3 0.9 Stability—Financial Institutions Bank Z-score 19.9 24.3 34.6 Bank non-performing loans to gross loans (%) .. 1.9 3.9 Bank capital to total assets (%) .. 11.1 13.9 Bank credit to bank deposits (%) 106.2 109.2 87.3 Regulatory capital to risk-weighted assets (%) .. 13.5 17.5 Liquid assets to deposits and short term funding (%) 30.3 19.4 24.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 66.9 67.5 58.3 Bank deposits to GDP (%) 42.0 38.2 42.4 H-statistic .. .. 1.0 Lerner index 0.23 0.28 0.35 Boone indicator –0.08 –0.07 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.07 0.06 0.10 The Little Data Book on Financial Development 2013 75 Equatorial Guinea High income Gross domestic product ($ billions) 14.5 Gross national income ($ billions) 9.3 Population (thousands) 700 Inflation (%) 1.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 2.7 1.8 3.3 Deposit money bank assets to GDP (%) 2.9 1.9 3.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 19 53 137 Bank branches per 100,000 adults 2.4 3.7 4.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 17.0 12.8 .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. 1.3 0.6 Return on average equity (%) .. 25.3 16.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 19.5 12.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 82.7 41.8 62.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 3.2 4.4 5.3 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 76 2013 The Little Data Book on Financial Development Sub-Saharan Africa Eritrea Low income Gross domestic product ($ billions) 2.1 Gross national income ($ billions) 2.1 Population (millions) 5.3 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 10.9 Small firms with line of credit to total small firms (%) .. .. 6.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 84.5 84.0 72.7 Overhead costs to total assets (%) .. .. .. Return on average assets (%) –0.1 2.3 0.7 Return on average equity (%) –2.6 42.2 13.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 3.7 9.8 9.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 22.8 24.3 25.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 96.4 71.6 71.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –0.02 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 77 Estonia High income Gross domestic product ($ billions) 18.8 Gross national income ($ billions) 17.9 Population (millions) 1.3 Inflation (%) 3.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 31.8 61.4 100.2 Deposit money bank assets to GDP (%) 33.1 63.0 103.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 29.9 35.3 12.7 Stock market total value traded to GDP (%) 5.0 11.9 1.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 3.1 3.7 2.6 Access—Financial Institutions Bank accounts per 1,000 adults .. .. 1,993 Bank branches per 100,000 adults .. 21.0 19.3 Firms with line of credit to total firms (all firms) (%) .. .. 50.8 Small firms with line of credit to total small firms (%) .. .. 43.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 96.8 Adults saving at a fin. inst. to total adults (%) .. .. 28.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.7 1.9 1.8 Lending-deposit spread (%) 3.7 2.8 6.7 Non-interest income to total income (%) 41.4 39.5 40.4 Overhead costs to total assets (%) 3.6 1.9 1.7 Return on average assets (%) 1.9 1.4 1.3 Return on average equity (%) 12.8 15.8 11.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 16.2 50.5 17.1 Stability—Financial Institutions Bank Z-score 12.8 5.9 6.8 Bank non-performing loans to gross loans (%) .. 0.2 5.4 Bank capital to total assets (%) .. 8.6 9.3 Bank credit to bank deposits (%) 130.0 163.1 170.9 Regulatory capital to risk-weighted assets (%) .. 11.7 22.1 Liquid assets to deposits and short term funding (%) 33.3 21.9 25.3 Stability—Financial Markets Volatility of stock price index 27.2 17.1 32.3 Other Indicators—Financial Institutions Bank concentration (%) 97.5 93.4 93.9 Bank deposits to GDP (%) 24.5 36.1 55.5 H-statistic .. .. .. Lerner index 0.12 0.29 0.24 Boone indicator –0.84 –0.10 0.21 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.17 0.11 0.11 78 2013 The Little Data Book on Financial Development Sub-Saharan Africa Ethiopia Low income Gross domestic product ($ billions) 29.7 Gross national income ($ billions) 29.6 Population (millions) 82.9 Inflation (%) 8.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 18.2 16.7 17.2 Deposit money bank assets to GDP (%) 28.0 26.0 25.3 Non-bank financial institutions’ assets to GDP (%) 5.8 3.4 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 66 107 Bank branches per 100,000 adults .. 0.9 1.8 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.7 3.6 4.0 Lending-deposit spread (%) 4.9 3.5 3.3 Non-interest income to total income (%) 41.1 51.1 66.4 Overhead costs to total assets (%) 2.3 2.2 2.2 Return on average assets (%) 0.8 2.0 2.7 Return on average equity (%) 9.3 23.6 30.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 10.3 11.1 10.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 65.7 54.5 55.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 48.1 72.2 36.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 80.3 86.3 75.5 Bank deposits to GDP (%) 26.6 33.0 24.3 H-statistic .. .. 0.1 Lerner index 0.33 0.58 0.57 Boone indicator –0.02 –0.03 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 79 Faeroe Islands High income Gross domestic product ($ billions) 2.2 Gross national income ($ billions) 2.4 Population (thousands) 49 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 80 2013 The Little Data Book on Financial Development East Asia & Pacific Lower middle income Fiji Gross domestic product ($ billions) 3.2 Gross national income ($ billions) 3.1 Population (thousands) 861 Inflation (%) 5.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 29.7 34.3 45.5 Deposit money bank assets to GDP (%) 36.4 40.9 51.9 Non-bank financial institutions’ assets to GDP (%) 7.3 7.6 8.3 Depth—Financial Markets Stock market capitalization to GDP (%) 10.1 18.8 47.5 Stock market total value traded to GDP (%) 0.2 0.2 0.3 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 37.8 Small firms with line of credit to total small firms (%) .. .. 25.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 3.9 .. Lending-deposit spread (%) 5.3 5.0 2.1 Non-interest income to total income (%) .. 32.3 .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. 1.5 .. Return on average equity (%) .. 21.5 .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.2 0.8 0.4 Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 86.7 88.2 93.3 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 15.3 .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 36.7 40.1 48.6 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.11 0.19 0.19 The Little Data Book on Financial Development 2013 81 Finland High income Gross domestic product ($ billions) 236.5 Gross national income ($ billions) 240.4 Population (millions) 5.4 Inflation (%) 1.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 51.4 70.3 92.0 Deposit money bank assets to GDP (%) 57.3 74.3 97.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 246.2 100.7 43.1 Stock market total value traded to GDP (%) 125.2 126.3 39.7 Outstanding domestic private debt securities to GDP (%) 21.6 24.4 24.4 Outstanding domestic public debt securities to GDP (%) 30.6 11.5 12.5 Outstanding international debt securities to GDP (%) 29.5 45.0 57.5 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 14.4 15.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 99.7 Adults saving at a fin. inst. to total adults (%) .. .. 56.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 23.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 22.4 46.9 45.3 Efficiency—Financial Institutions Net interest margin (%) 1.9 1.3 0.9 Lending-deposit spread (%) 4.0 2.7 .. Non-interest income to total income (%) 34.3 44.1 48.4 Overhead costs to total assets (%) 1.3 0.7 0.5 Return on average assets (%) 0.9 0.9 0.3 Return on average equity (%) 18.3 9.8 7.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 64.9 138.7 109.6 Stability—Financial Institutions Bank Z-score 26.7 37.8 16.5 Bank non-performing loans to gross loans (%) .. 0.3 0.6 Bank capital to total assets (%) .. 9.2 5.5 Bank credit to bank deposits (%) 114.9 149.3 144.0 Regulatory capital to risk-weighted assets (%) .. 17.2 14.4 Liquid assets to deposits and short term funding (%) 37.5 81.0 82.2 Stability—Financial Markets Volatility of stock price index 46.6 21.4 35.6 Other Indicators—Financial Institutions Bank concentration (%) 95.7 97.7 88.2 Bank deposits to GDP (%) 46.3 48.8 63.2 H-statistic .. .. .. Lerner index 0.19 0.16 0.09 Boone indicator –0.17 –0.03 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.30 0.26 0.23 82 2013 The Little Data Book on Financial Development FranceHigh income Gross domestic product ($ billions) 2,549.0 Gross national income ($ billions) 2,597.7 Population (millions) 65.1 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 81.7 90.1 111.6 Deposit money bank assets to GDP (%) 101.9 108.0 130.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 102.7 77.8 74.6 Stock market total value traded to GDP (%) 66.5 69.0 54.3 Outstanding domestic private debt securities to GDP (%) 34.2 38.3 55.8 Outstanding domestic public debt securities to GDP (%) 42.4 53.1 64.0 Outstanding international debt securities to GDP (%) 22.3 46.2 76.4 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 22.8 43.1 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 97.0 Adults saving at a fin. inst. to total adults (%) .. .. 49.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 18.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 33.9 29.9 39.2 Efficiency—Financial Institutions Net interest margin (%) 1.1 1.0 1.0 Lending-deposit spread (%) 4.1 4.4 .. Non-interest income to total income (%) 59.8 54.0 41.0 Overhead costs to total assets (%) 1.3 0.9 0.8 Return on average assets (%) 0.4 0.4 0.3 Return on average equity (%) 10.5 13.7 9.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 72.3 91.8 83.1 Stability—Financial Institutions Bank Z-score 16.5 13.5 16.7 Bank non-performing loans to gross loans (%) .. 3.5 4.2 Bank capital to total assets (%) .. 4.4 4.4 Bank credit to bank deposits (%) 133.2 129.7 127.5 Regulatory capital to risk-weighted assets (%) .. 11.3 12.3 Liquid assets to deposits and short term funding (%) 46.0 55.9 54.6 Stability—Financial Markets Volatility of stock price index 20.8 13.5 32.6 Other Indicators—Financial Institutions Bank concentration (%) 40.3 42.0 48.9 Bank deposits to GDP (%) 63.3 69.7 86.5 H-statistic .. .. 0.6 Lerner index 0.15 0.21 0.22 Boone indicator –0.07 –0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.13 0.14 0.14 The Little Data Book on Financial Development 2013 83 French Polynesia High income Gross domestic product ($ billions) .. Gross national income ($ billions) .. Population (thousands) 271 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 84 2013 The Little Data Book on Financial Development Sub-Saharan Africa Gabon Upper middle income Gross domestic product ($ billions) 13.2 Gross national income ($ billions) 11.4 Population (millions) 1.5 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.3 7.9 8.1 Deposit money bank assets to GDP (%) 12.1 10.2 10.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 7.5 Access—Financial Institutions Bank accounts per 1,000 adults 10 43 95 Bank branches per 100,000 adults 3.6 3.6 4.7 Firms with line of credit to total firms (all firms) (%) .. .. 9.0 Small firms with line of credit to total small firms (%) .. .. 4.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 18.9 Adults saving at a fin. inst. to total adults (%) .. .. 8.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 2.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 3.8 5.4 Lending-deposit spread (%) 17.0 12.8 .. Non-interest income to total income (%) .. .. 90.9 Overhead costs to total assets (%) 4.2 4.8 5.4 Return on average assets (%) 2.8 2.1 0.3 Return on average equity (%) 25.7 16.7 3.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 14.8 18.8 5.5 Bank non-performing loans to gross loans (%) .. 14.1 9.9 Bank capital to total assets (%) .. 11.1 11.3 Bank credit to bank deposits (%) 76.5 59.5 45.8 Regulatory capital to risk-weighted assets (%) .. 19.8 22.6 Liquid assets to deposits and short term funding (%) 41.4 52.8 14.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 98.7 100.0 Bank deposits to GDP (%) 10.4 12.8 15.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.04 0.00 0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 85 Gambia, The Sub-Saharan Africa Low income Gross domestic product ($ billions) 1.1 Gross national income ($ billions) 1.0 Population (millions) 1.7 Inflation (%) 5.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.6 11.8 17.7 Deposit money bank assets to GDP (%) 24.6 23.0 36.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 16.6 .. Small firms with line of credit to total small firms (%) .. 8.1 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 6.8 9.4 4.9 Lending-deposit spread (%) 11.5 17.6 12.4 Non-interest income to total income (%) .. 49.0 52.5 Overhead costs to total assets (%) .. 7.7 7.6 Return on average assets (%) 7.3 4.0 2.6 Return on average equity (%) 68.1 36.1 28.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.1 8.9 7.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 45.2 35.8 37.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 85.3 69.7 53.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 90.4 87.1 Bank deposits to GDP (%) 23.5 33.2 47.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.04 0.02 0.15 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 86 2013 The Little Data Book on Financial Development Europe & Central Asia Georgia Lower middle income Gross domestic product ($ billions) 11.6 Gross national income ($ billions) 11.4 Population (millions) 4.5 Inflation (%) 7.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 6.4 11.3 29.0 Deposit money bank assets to GDP (%) 6.5 12.0 31.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 1.7 4.4 7.4 Stock market total value traded to GDP (%) 0.1 0.5 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 6.8 Access—Financial Institutions Bank accounts per 1,000 adults .. 363 697 Bank branches per 100,000 adults .. 10.0 18.6 Firms with line of credit to total firms (all firms) (%) .. .. 41.8 Small firms with line of credit to total small firms (%) .. .. 29.0 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 33.0 Adults saving at a fin. inst. to total adults (%) .. .. 1.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 8.1 5.4 5.4 Lending-deposit spread (%) 22.6 14.1 15.0 Non-interest income to total income (%) 31.4 42.2 28.1 Overhead costs to total assets (%) 8.3 5.2 5.7 Return on average assets (%) 3.5 3.5 1.0 Return on average equity (%) 15.1 20.3 5.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 9.1 13.5 0.5 Stability—Financial Institutions Bank Z-score 8.6 8.5 7.8 Bank non-performing loans to gross loans (%) .. 3.8 12.5 Bank capital to total assets (%) .. 18.8 16.9 Bank credit to bank deposits (%) 143.1 144.3 230.3 Regulatory capital to risk-weighted assets (%) .. 17.5 17.4 Liquid assets to deposits and short term funding (%) 45.9 34.8 28.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 68.4 75.0 88.0 Bank deposits to GDP (%) 4.2 8.9 22.4 H-statistic .. .. 0.6 Lerner index 0.44 0.46 0.24 Boone indicator –0.14 –0.14 –0.18 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.61 0.59 0.32 The Little Data Book on Financial Development 2013 87 Germany High income Gross domestic product ($ billions) 3,258.9 Gross national income ($ billions) 3,319.4 Population (millions) 81.8 Inflation (%) 1.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 116.5 111.6 107.7 Deposit money bank assets to GDP (%) 147.0 138.2 130.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 66.4 43.6 40.6 Stock market total value traded to GDP (%) 46.8 57.1 40.1 Outstanding domestic private debt securities to GDP (%) 57.1 34.8 31.6 Outstanding domestic public debt securities to GDP (%) 29.8 40.9 48.5 Outstanding international debt securities to GDP (%) 37.7 80.3 84.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 20.2 17.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 98.1 Adults saving at a fin. inst. to total adults (%) .. .. 55.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 34.0 49.6 48.8 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 55.7 55.0 54.4 Corporate bonds to total bonds and notes outstanding (%) 63.1 41.2 31.3 Efficiency—Financial Institutions Net interest margin (%) 1.2 1.2 1.2 Lending-deposit spread (%) 6.2 .. .. Non-interest income to total income (%) 51.2 55.7 47.6 Overhead costs to total assets (%) 1.6 1.1 1.3 Return on average assets (%) 0.3 0.3 0.1 Return on average equity (%) 7.0 10.3 2.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 79.1 146.3 115.0 Stability—Financial Institutions Bank Z-score 13.2 11.2 13.1 Bank non-performing loans to gross loans (%) .. 4.1 3.3 Bank capital to total assets (%) .. 4.1 4.3 Bank credit to bank deposits (%) 123.6 108.4 89.8 Regulatory capital to risk-weighted assets (%) .. 12.2 16.1 Liquid assets to deposits and short term funding (%) 28.3 28.1 74.2 Stability—Financial Markets Volatility of stock price index 23.6 14.9 31.9 Other Indicators—Financial Institutions Bank concentration (%) 27.7 35.2 38.1 Bank deposits to GDP (%) 96.3 101.8 117.5 H-statistic .. .. 0.5 Lerner index 0.13 0.17 0.22 Boone indicator –0.04 –0.03 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.12 0.08 0.07 88 2013 The Little Data Book on Financial Development Sub-Saharan Africa Ghana Lower middle income Gross domestic product ($ billions) 32.2 Gross national income ($ billions) 31.6 Population (millions) 24.4 Inflation (%) 10.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.7 13.5 13.7 Deposit money bank assets to GDP (%) 24.5 24.7 23.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 9.8 21.3 9.5 Stock market total value traded to GDP (%) 0.2 0.6 0.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 2.4 Access—Financial Institutions Bank accounts per 1,000 adults .. 173 324 Bank branches per 100,000 adults .. 3.0 5.0 Firms with line of credit to total firms (all firms) (%) .. 22.2 .. Small firms with line of credit to total small firms (%) .. 13.0 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 29.4 Adults saving at a fin. inst. to total adults (%) .. .. 16.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 5.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.1 3.8 6.5 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 35.5 35.5 29.8 Overhead costs to total assets (%) 4.1 6.8 7.0 Return on average assets (%) 3.6 5.3 2.2 Return on average equity (%) 57.8 50.4 16.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 0.8 3.0 6.3 Stability—Financial Institutions Bank Z-score 8.5 9.3 17.2 Bank non-performing loans to gross loans (%) .. 13.0 17.6 Bank capital to total assets (%) .. .. 7.9 Bank credit to bank deposits (%) 84.3 75.6 .. Regulatory capital to risk-weighted assets (%) .. 16.2 19.1 Liquid assets to deposits and short term funding (%) 17.2 40.5 44.5 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 98.8 93.6 39.6 Bank deposits to GDP (%) 14.3 20.1 .. H-statistic .. .. .. Lerner index 0.23 0.20 0.30 Boone indicator –0.21 –0.20 –0.18 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 0.01 0.01 The Little Data Book on Financial Development 2013 89 Greece High income Gross domestic product ($ billions) 299.1 Gross national income ($ billions) 290.9 Population (millions) 11.3 Inflation (%) 4.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 42.6 73.2 105.9 Deposit money bank assets to GDP (%) 71.6 93.2 129.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 115.3 56.2 20.8 Stock market total value traded to GDP (%) 103.7 22.6 15.5 Outstanding domestic private debt securities to GDP (%) 0.2 3.9 23.4 Outstanding domestic public debt securities to GDP (%) 65.5 58.1 55.3 Outstanding international debt securities to GDP (%) 20.2 51.5 129.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. 3,800 Bank branches per 100,000 adults .. 35.8 41.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 77.9 Adults saving at a fin. inst. to total adults (%) .. .. 19.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 28.4 65.7 88.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 55.9 42.4 36.5 Corporate bonds to total bonds and notes outstanding (%) 0.2 8.8 40.0 Efficiency—Financial Institutions Net interest margin (%) 0.0 2.7 1.8 Lending-deposit spread (%) 6.2 4.3 .. Non-interest income to total income (%) 47.5 21.3 4.1 Overhead costs to total assets (%) 3.5 1.8 1.5 Return on average assets (%) –4.7 0.9 –0.7 Return on average equity (%) –12.8 14.0 –10.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 56.1 48.3 81.2 Stability—Financial Institutions Bank Z-score 13.0 12.2 12.1 Bank non-performing loans to gross loans (%) .. 6.3 10.4 Bank capital to total assets (%) .. 6.2 6.9 Bank credit to bank deposits (%) 93.0 94.3 122.0 Regulatory capital to risk-weighted assets (%) .. 13.2 12.2 Liquid assets to deposits and short term funding (%) 100.8 27.9 16.1 Stability—Financial Markets Volatility of stock price index .. 17.6 47.3 Other Indicators—Financial Institutions Bank concentration (%) 94.9 68.5 62.3 Bank deposits to GDP (%) 49.4 78.2 101.7 H-statistic .. .. 0.6 Lerner index 0.39 0.25 0.21 Boone indicator 0.15 –0.04 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.30 0.28 0.25 90 2013 The Little Data Book on Financial Development Latin America & Caribbean Grenada Upper middle income Gross domestic product ($ millions) 783.6 Gross national income ($ millions) 732.2 Population (thousands) 104 Inflation (%) 3.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 58.1 54.9 82.7 Deposit money bank assets to GDP (%) 65.9 62.4 93.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 14.2 13.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 7.0 13.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 5.3 4.9 Lending-deposit spread (%) 7.4 7.2 7.5 Non-interest income to total income (%) 23.4 8.1 20.0 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 1.8 –0.8 1.1 Return on average equity (%) 19.9 –8.9 9.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 10.0 7.9 12.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 85.6 72.3 84.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 9.5 25.0 9.4 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 100.0 Bank deposits to GDP (%) 68.0 82.5 101.0 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –0.17 0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 91 Guatemala Latin America & Caribbean Lower middle income Gross domestic product ($ billions) 41.3 Gross national income ($ billions) 40.1 Population (millions) 14.4 Inflation (%) 3.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 19.3 24.3 23.4 Deposit money bank assets to GDP (%) 21.3 31.5 35.5 Non-bank financial institutions’ assets to GDP (%) 0.8 0.8 0.7 Depth—Financial Markets Stock market capitalization to GDP (%) 0.8 .. .. Stock market total value traded to GDP (%) 0.0 .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 0.8 4.6 2.7 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 18.9 36.5 Firms with line of credit to total firms (all firms) (%) .. 33.6 49.1 Small firms with line of credit to total small firms (%) .. 28.1 33.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 22.3 Adults saving at a fin. inst. to total adults (%) .. .. 10.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 13.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 6.8 5.4 6.0 Lending-deposit spread (%) 10.7 8.7 7.9 Non-interest income to total income (%) 12.0 15.5 13.2 Overhead costs to total assets (%) 5.0 4.2 4.1 Return on average assets (%) 0.8 1.3 1.7 Return on average equity (%) 9.1 15.5 17.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 4.1 .. .. Stability—Financial Institutions Bank Z-score 23.4 23.1 27.5 Bank non-performing loans to gross loans (%) .. 2.4 2.1 Bank capital to total assets (%) .. 8.5 10.3 Bank credit to bank deposits (%) 108.5 67.0 124.2 Regulatory capital to risk-weighted assets (%) .. 13.7 15.7 Liquid assets to deposits and short term funding (%) 24.3 21.6 33.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 31.4 48.0 66.6 Bank deposits to GDP (%) 16.1 34.8 36.6 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.14 –0.07 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 .. .. 92 2013 The Little Data Book on Financial Development Sub-Saharan Africa Guinea Low income Gross domestic product ($ billions) 4.7 Gross national income ($ billions) 4.3 Population (millions) 10.0 Inflation (%) 15.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 3.5 .. Deposit money bank assets to GDP (%) .. 7.7 .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 6.0 .. Small firms with line of credit to total small firms (%) .. 2.5 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 3.7 Adults saving at a fin. inst. to total adults (%) .. .. 2.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 2.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.5 .. .. Lending-deposit spread (%) 11.9 .. .. Non-interest income to total income (%) 59.6 55.8 65.9 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 2.1 4.3 1.3 Return on average equity (%) 24.2 37.7 25.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.0 6.8 3.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 70.2 39.6 .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 38.3 81.6 95.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. 9.7 .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.38 0.00 –0.21 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 93 Guinea-Bissau Sub-Saharan Africa Low income Gross domestic product ($ millions) 835.4 Gross national income ($ millions) 834.5 Population (millions) 1.5 Inflation (%) 2.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 7.6 0.9 5.8 Deposit money bank assets to GDP (%) 7.6 1.6 7.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 2.7 .. Small firms with line of credit to total small firms (%) .. 2.1 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. –4.4 Return on average equity (%) .. .. –39.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 57.7 28.8 47.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 12.7 3.8 11.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 94 2013 The Little Data Book on Financial Development Latin America & Caribbean Guyana Lower middle income Gross domestic product ($ billions) 2.3 Gross national income ($ billions) 2.3 Population (thousands) 754 Inflation (%) 2.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 49.1 40.6 27.8 Deposit money bank assets to GDP (%) 66.3 72.7 44.5 Non-bank financial institutions’ assets to GDP (%) 6.7 14.0 0.6 Depth—Financial Markets Stock market capitalization to GDP (%) .. 19.0 13.9 Stock market total value traded to GDP (%) .. 0.3 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 5.5 6.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.4 2.8 3.0 Lending-deposit spread (%) 8.6 12.0 12.3 Non-interest income to total income (%) 30.4 35.8 32.4 Overhead costs to total assets (%) 3.9 3.4 2.8 Return on average assets (%) 1.0 1.2 2.0 Return on average equity (%) 10.6 15.2 21.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 2.6 0.3 Stability—Financial Institutions Bank Z-score 16.7 15.5 20.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 76.8 49.3 54.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 21.5 15.8 47.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Bank deposits to GDP (%) 62.6 83.1 81.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.07 –0.06 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. 0.15 0.15 The Little Data Book on Financial Development 2013 95 Haiti Latin America & Caribbean Low income Gross domestic product ($ billions) 6.6 Gross national income ($ billions) 6.7 Population (millions) 10.0 Inflation (%) 5.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 13.7 12.6 13.5 Deposit money bank assets to GDP (%) 15.6 16.3 15.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 233 339 Bank branches per 100,000 adults .. 3.1 2.8 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 22.0 Adults saving at a fin. inst. to total adults (%) .. .. 18.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.0 7.8 6.5 Lending-deposit spread (%) 7.0 20.8 16.7 Non-interest income to total income (%) 27.9 42.9 51.8 Overhead costs to total assets (%) 6.5 6.4 5.2 Return on average assets (%) 0.9 0.7 1.3 Return on average equity (%) 15.5 11.7 18.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 15.6 15.1 19.3 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 50.4 40.0 36.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 59.3 54.5 60.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 92.1 93.0 100.0 Bank deposits to GDP (%) 27.2 32.2 24.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.05 –0.07 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 96 2013 The Little Data Book on Financial Development Latin America & Caribbean Honduras Lower middle income Gross domestic product ($ billions) 15.3 Gross national income ($ billions) 14.7 Population (millions) 7.6 Inflation (%) 4.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 32.2 36.0 48.6 Deposit money bank assets to GDP (%) 32.8 37.4 52.4 Non-bank financial institutions’ assets to GDP (%) 0.6 1.9 0.3 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 46.9 31.2 Small firms with line of credit to total small firms (%) .. 39.3 24.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 20.5 Adults saving at a fin. inst. to total adults (%) .. .. 8.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 7.4 6.1 7.1 Lending-deposit spread (%) 10.9 7.9 9.0 Non-interest income to total income (%) 23.0 24.0 23.1 Overhead costs to total assets (%) 4.6 5.0 5.4 Return on average assets (%) 0.8 1.5 1.1 Return on average equity (%) 8.0 15.4 10.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 18.8 27.3 29.7 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 96.8 90.2 128.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 27.7 17.6 12.5 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 46.4 40.8 54.1 Bank deposits to GDP (%) 32.6 39.8 52.9 H-statistic .. .. 0.9 Lerner index 0.13 0.20 0.19 Boone indicator –0.03 –0.05 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.16 .. .. The Little Data Book on Financial Development 2013 97 Hong Kong SAR, China High income Gross domestic product ($ billions) 224.5 Gross national income ($ billions) 229.2 Population (millions) 7.1 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 150.0 141.8 167.0 Deposit money bank assets to GDP (%) 164.0 160.9 207.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 362.1 381.7 440.2 Stock market total value traded to GDP (%) 184.2 161.7 681.5 Outstanding domestic private debt securities to GDP (%) 17.1 17.7 14.3 Outstanding domestic public debt securities to GDP (%) 8.7 9.8 22.3 Outstanding international debt securities to GDP (%) .. 31.6 36.2 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 21.7 23.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 88.7 Adults saving at a fin. inst. to total adults (%) .. .. 42.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 45.6 43.8 29.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 32.0 48.4 63.1 Corporate bonds to total bonds and notes outstanding (%) 60.0 62.3 62.1 Efficiency—Financial Institutions Net interest margin (%) 1.1 1.8 0.4 Lending-deposit spread (%) 4.7 6.5 5.0 Non-interest income to total income (%) 37.5 60.4 68.7 Overhead costs to total assets (%) 1.2 1.0 3.7 Return on average assets (%) 0.3 1.3 1.1 Return on average equity (%) 3.0 27.5 16.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 66.1 43.4 180.7 Stability—Financial Institutions Bank Z-score 5.1 28.4 34.7 Bank non-performing loans to gross loans (%) .. 1.4 0.8 Bank capital to total assets (%) .. 13.3 12.3 Bank credit to bank deposits (%) 69.1 59.2 59.3 Regulatory capital to risk-weighted assets (%) .. 14.8 15.9 Liquid assets to deposits and short term funding (%) 30.2 43.5 31.0 Stability—Financial Markets Volatility of stock price index 29.1 14.8 23.9 Other Indicators—Financial Institutions Bank concentration (%) 53.2 63.2 75.6 Bank deposits to GDP (%) 210.0 242.0 305.8 H-statistic .. .. 0.7 Lerner index 0.23 0.34 0.46 Boone indicator –0.04 –0.18 –0.10 Other Indicators—Financial Markets Number of listed firms per 10,000 people 1.17 1.50 1.98 98 2013 The Little Data Book on Financial Development Hungary High income Gross domestic product ($ billions) 128.6 Gross national income ($ billions) 122.4 Population (millions) 10.0 Inflation (%) 4.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 27.7 47.6 65.2 Deposit money bank assets to GDP (%) 37.0 58.8 81.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 28.2 28.3 21.7 Stock market total value traded to GDP (%) 26.5 16.9 20.3 Outstanding domestic private debt securities to GDP (%) .. 5.5 7.3 Outstanding domestic public debt securities to GDP (%) 33.0 42.1 52.1 Outstanding international debt securities to GDP (%) 22.5 15.5 29.3 Access—Financial Institutions Bank accounts per 1,000 adults .. 840 1,072 Bank branches per 100,000 adults 13.7 14.8 16.6 Firms with line of credit to total firms (all firms) (%) .. .. 43.0 Small firms with line of credit to total small firms (%) .. .. 39.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 72.7 Adults saving at a fin. inst. to total adults (%) .. .. 17.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 89.7 96.2 99.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 12.4 4.5 4.4 Corporate bonds to total bonds and notes outstanding (%) .. 14.4 15.0 Efficiency—Financial Institutions Net interest margin (%) 2.1 3.9 3.2 Lending-deposit spread (%) 3.1 3.4 2.7 Non-interest income to total income (%) 36.8 41.8 33.3 Overhead costs to total assets (%) 3.8 3.6 2.9 Return on average assets (%) 1.4 2.2 0.3 Return on average equity (%) 17.2 22.4 3.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 69.9 76.7 123.3 Stability—Financial Institutions Bank Z-score 12.3 14.9 14.1 Bank non-performing loans to gross loans (%) .. 2.3 9.7 Bank capital to total assets (%) .. 8.2 9.8 Bank credit to bank deposits (%) 83.6 120.0 161.2 Regulatory capital to risk-weighted assets (%) .. 11.6 14.1 Liquid assets to deposits and short term funding (%) 52.4 31.5 25.9 Stability—Financial Markets Volatility of stock price index 30.7 23.8 52.5 Other Indicators—Financial Institutions Bank concentration (%) 54.1 57.1 58.7 Bank deposits to GDP (%) 36.7 40.8 50.1 H-statistic .. .. 0.7 Lerner index 0.04 0.16 0.24 Boone indicator –0.10 –0.08 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.06 0.04 0.05 The Little Data Book on Financial Development 2013 99 Iceland High income Gross domestic product ($ billions) 12.6 Gross national income ($ billions) 10.4 Population (thousands) 318 Inflation (%) 5.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 82.3 197.2 109.3 Deposit money bank assets to GDP (%) 83.2 197.8 127.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 51.2 145.0 12.5 Stock market total value traded to GDP (%) 16.4 88.3 2.2 Outstanding domestic private debt securities to GDP (%) 54.8 223.2 70.6 Outstanding domestic public debt securities to GDP (%) 15.1 14.5 43.8 Outstanding international debt securities to GDP (%) 85.9 232.8 370.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 47.6 34.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 82.7 95.5 57.4 Efficiency—Financial Institutions Net interest margin (%) 2.9 –1.7 4.1 Lending-deposit spread (%) 6.2 7.2 .. Non-interest income to total income (%) 25.2 .. 23.8 Overhead costs to total assets (%) 2.8 .. 5.3 Return on average assets (%) 0.3 3.6 –2.4 Return on average equity (%) 4.7 41.5 3.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 43.5 73.0 14.3 Stability—Financial Institutions Bank Z-score 16.6 4.2 11.8 Bank non-performing loans to gross loans (%) .. 1.1 39.9 Bank capital to total assets (%) .. 7.4 14.4 Bank credit to bank deposits (%) 228.2 364.3 .. Regulatory capital to risk-weighted assets (%) .. 12.8 18.2 Liquid assets to deposits and short term funding (%) 0.4 0.8 54.2 Stability—Financial Markets Volatility of stock price index 12.9 17.5 40.0 Other Indicators—Financial Institutions Bank concentration (%) 100.0 56.7 63.4 Bank deposits to GDP (%) 40.6 60.0 31.6 H-statistic .. .. 0.5 Lerner index 0.02 0.32 0.32 Boone indicator 0.54 –0.30 0.50 Other Indicators—Financial Markets Number of listed firms per 10,000 people 2.31 0.81 0.22 100 2013 The Little Data Book on Financial Development South Asia India Lower middle income Gross domestic product ($ billions) 1,684.3 Gross national income ($ billions) 1,667.0 Population (millions) 1,224.6 Inflation (%) 12.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 26.5 35.3 43.5 Deposit money bank assets to GDP (%) 41.1 54.2 61.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 34.3 56.6 83.1 Stock market total value traded to GDP (%) 81.6 49.1 64.5 Outstanding domestic private debt securities to GDP (%) 0.4 0.9 5.0 Outstanding domestic public debt securities to GDP (%) 22.5 31.0 33.4 Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 637 747 Bank branches per 100,000 adults .. 9.7 10.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 35.2 Adults saving at a fin. inst. to total adults (%) .. .. 11.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 63.2 11.4 21.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 58.9 64.7 72.4 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.5 3.2 2.9 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 36.7 32.0 34.7 Overhead costs to total assets (%) 2.4 2.1 1.7 Return on average assets (%) 0.7 0.9 1.0 Return on average equity (%) 13.8 15.6 13.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 257.6 91.9 114.7 Stability—Financial Institutions Bank Z-score 21.3 25.0 27.9 Bank non-performing loans to gross loans (%) .. 5.2 2.4 Bank capital to total assets (%) .. 6.4 7.1 Bank credit to bank deposits (%) 62.9 73.7 76.3 Regulatory capital to risk-weighted assets (%) .. 12.8 13.6 Liquid assets to deposits and short term funding (%) 17.6 10.7 7.3 Stability—Financial Markets Volatility of stock price index 34.2 21.9 34.1 Other Indicators—Financial Institutions Bank concentration (%) 34.2 33.6 30.1 Bank deposits to GDP (%) 42.6 50.0 58.9 H-statistic .. .. 0.4 Lerner index 0.16 0.24 0.21 Boone indicator –0.10 –0.07 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.06 0.04 0.04 The Little Data Book on Financial Development 2013 101 Indonesia East Asia & Pacific Lower middle income Gross domestic product ($ billions) 708.0 Gross national income ($ billions) 688.1 Population (millions) 239.9 Inflation (%) 5.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 17.6 22.7 23.8 Deposit money bank assets to GDP (%) 43.7 34.8 29.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 26.5 25.7 39.5 Stock market total value traded to GDP (%) 10.0 11.5 18.5 Outstanding domestic private debt securities to GDP (%) 1.3 2.2 1.6 Outstanding domestic public debt securities to GDP (%) 28.5 16.9 13.5 Outstanding international debt securities to GDP (%) 6.7 3.8 5.2 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults 4.7 5.3 8.3 Firms with line of credit to total firms (all firms) (%) .. .. 18.2 Small firms with line of credit to total small firms (%) .. .. 16.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 19.6 Adults saving at a fin. inst. to total adults (%) .. .. 15.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.1 54.1 42.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 45.8 46.8 59.4 Corporate bonds to total bonds and notes outstanding (%) 4.9 13.9 15.1 Efficiency—Financial Institutions Net interest margin (%) 2.5 5.4 5.9 Lending-deposit spread (%) 6.0 6.0 6.2 Non-interest income to total income (%) 41.6 20.6 23.4 Overhead costs to total assets (%) 2.7 3.4 3.3 Return on average assets (%) 0.2 1.5 1.9 Return on average equity (%) 3.5 16.0 18.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 20.9 57.1 67.5 Stability—Financial Institutions Bank Z-score 3.4 16.0 19.2 Bank non-performing loans to gross loans (%) .. 7.6 2.6 Bank capital to total assets (%) .. 9.7 11.4 Bank credit to bank deposits (%) 40.3 65.9 75.4 Regulatory capital to risk-weighted assets (%) .. 19.3 17.2 Liquid assets to deposits and short term funding (%) 32.5 34.7 30.1 Stability—Financial Markets Volatility of stock price index 52.1 25.2 33.2 Other Indicators—Financial Institutions Bank concentration (%) 62.7 42.6 44.4 Bank deposits to GDP (%) 44.7 35.6 33.2 H-statistic .. .. 0.6 Lerner index 0.12 0.21 0.25 Boone indicator –0.05 –0.07 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 0.01 0.02 102 2013 The Little Data Book on Financial Development Middle East & North Africa Iran, Islamic Rep. Upper middle income Gross domestic product ($ billions) 331.0 Gross national income ($ billions) 328.6 Population (millions) 74.0 Inflation (%) 10.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 17.2 27.1 34.7 Deposit money bank assets to GDP (%) 18.3 28.3 37.6 Non-bank financial institutions’ assets to GDP (%) 7.8 9.5 13.0 Depth—Financial Markets Stock market capitalization to GDP (%) 11.9 22.3 16.5 Stock market total value traded to GDP (%) 1.4 5.6 4.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 0.7 .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 28.3 26.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 73.7 Adults saving at a fin. inst. to total adults (%) .. .. 19.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 30.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.8 38.8 23.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 62.8 63.0 60.7 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.8 2.3 1.8 Lending-deposit spread (%) .. 4.2 0.1 Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) 0.0 0.0 .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 4.6 19.1 58.5 Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 61.7 88.6 91.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 58.0 57.2 59.1 Bank deposits to GDP (%) 28.9 30.9 35.1 H-statistic .. .. .. Lerner index 0.06 0.39 0.11 Boone indicator 0.00 –0.02 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.06 0.05 The Little Data Book on Financial Development 2013 103 Iraq Middle East & North Africa Lower middle income Gross domestic product ($ billions) 81.1 Gross national income ($ billions) 79.1 Population (millions) 32.0 Inflation (%) 2.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. 7.0 Deposit money bank assets to GDP (%) .. .. 13.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 10.6 Adults saving at a fin. inst. to total adults (%) .. .. 5.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.0 2.3 0.8 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. 33.5 67.8 Overhead costs to total assets (%) .. 3.2 1.7 Return on average assets (%) 2.0 4.8 3.5 Return on average equity (%) 181.4 21.5 14.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 5.4 13.5 16.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. 21.2 12.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 88.8 57.4 Bank deposits to GDP (%) .. .. 15.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.03 –0.03 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 104 2013 The Little Data Book on Financial Development IrelandHigh income Gross domestic product ($ billions) 205.3 Gross national income ($ billions) 170.1 Population (millions) 4.5 Inflation (%) –0.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 96.0 141.0 228.2 Deposit money bank assets to GDP (%) 101.6 143.8 245.1 Non-bank financial institutions’ assets to GDP (%) 1.6 .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 72.5 56.3 15.1 Stock market total value traded to GDP (%) 30.4 26.8 8.4 Outstanding domestic private debt securities to GDP (%) 7.8 81.4 117.7 Outstanding domestic public debt securities to GDP (%) 22.3 19.8 28.0 Outstanding international debt securities to GDP (%) 29.5 68.4 262.6 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 34.5 28.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 93.9 Adults saving at a fin. inst. to total adults (%) .. .. 51.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 15.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 79.0 80.8 85.0 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 16.2 18.3 22.3 Corporate bonds to total bonds and notes outstanding (%) .. 70.5 71.6 Efficiency—Financial Institutions Net interest margin (%) 0.8 0.5 0.6 Lending-deposit spread (%) 4.7 2.6 .. Non-interest income to total income (%) 27.4 22.9 59.1 Overhead costs to total assets (%) 0.0 0.2 0.7 Return on average assets (%) 0.3 0.8 –4.6 Return on average equity (%) 9.0 15.8 –92.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 17.2 56.6 58.3 Stability—Financial Institutions Bank Z-score 38.4 5.8 3.8 Bank non-performing loans to gross loans (%) .. 0.7 8.6 Bank capital to total assets (%) .. 4.7 4.4 Bank credit to bank deposits (%) 121.7 156.4 166.6 Regulatory capital to risk-weighted assets (%) .. 12.0 14.6 Liquid assets to deposits and short term funding (%) 23.4 35.0 36.5 Stability—Financial Markets Volatility of stock price index 19.8 15.9 42.5 Other Indicators—Financial Institutions Bank concentration (%) 52.1 52.3 56.9 Bank deposits to GDP (%) 81.2 94.2 134.7 H-statistic .. .. 0.7 Lerner index 0.17 0.22 0.27 Boone indicator 0.00 –0.01 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.20 0.13 0.11 The Little Data Book on Financial Development 2013 105 Isle of Man High income Gross domestic product ($ billions) 4.1 Gross national income ($ billions) 4.2 Population (thousands) 83 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 106 2013 The Little Data Book on Financial Development Israel High income Gross domestic product ($ billions) 217.4 Gross national income ($ billions) 211.2 Population (millions) 7.6 Inflation (%) 2.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 72.4 84.7 91.5 Deposit money bank assets to GDP (%) 82.8 94.5 100.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 51.5 80.2 93.8 Stock market total value traded to GDP (%) 15.6 39.5 51.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.1 12.8 10.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. 1,100 Bank branches per 100,000 adults .. 19.6 20.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 90.5 Adults saving at a fin. inst. to total adults (%) .. .. 24.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 16.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 44.3 47.7 48.1 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 54.6 52.4 47.8 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 0.0 1.9 Lending-deposit spread (%) 4.2 3.2 2.9 Non-interest income to total income (%) 35.6 34.8 30.8 Overhead costs to total assets (%) 2.1 2.3 2.2 Return on average assets (%) 0.6 0.8 0.6 Return on average equity (%) 10.1 13.3 8.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 33.5 55.7 74.5 Stability—Financial Institutions Bank Z-score 22.7 24.2 28.1 Bank non-performing loans to gross loans (%) .. 2.3 1.4 Bank capital to total assets (%) .. 5.6 6.8 Bank credit to bank deposits (%) 97.8 101.0 104.8 Regulatory capital to risk-weighted assets (%) .. 10.7 14.3 Liquid assets to deposits and short term funding (%) 29.0 26.5 19.9 Stability—Financial Markets Volatility of stock price index 29.5 16.2 19.1 Other Indicators—Financial Institutions Bank concentration (%) 66.9 77.0 78.2 Bank deposits to GDP (%) 75.6 84.5 88.4 H-statistic .. .. 0.5 Lerner index 0.15 0.19 0.22 Boone indicator –0.12 –0.11 –0.09 Other Indicators—Financial Markets Number of listed firms per 10,000 people 1.04 0.83 0.80 The Little Data Book on Financial Development 2013 107 Italy High income Gross domestic product ($ billions) 2,043.6 Gross national income ($ billions) 2,033.4 Population (millions) 60.5 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 70.4 85.4 114.8 Deposit money bank assets to GDP (%) 89.1 100.6 145.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 63.4 44.6 15.2 Stock market total value traded to GDP (%) 56.2 53.8 23.9 Outstanding domestic private debt securities to GDP (%) 28.4 37.7 54.3 Outstanding domestic public debt securities to GDP (%) 85.5 79.6 93.1 Outstanding international debt securities to GDP (%) 20.3 42.8 66.1 Access—Financial Institutions Bank accounts per 1,000 adults .. 749 1,307 Bank branches per 100,000 adults .. 64.2 66.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 71.0 Adults saving at a fin. inst. to total adults (%) .. .. 15.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 46.9 59.4 78.7 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 47.7 45.5 38.1 Corporate bonds to total bonds and notes outstanding (%) 23.8 34.3 37.3 Efficiency—Financial Institutions Net interest margin (%) 2.1 1.8 1.4 Lending-deposit spread (%) 5.2 4.9 .. Non-interest income to total income (%) 42.8 48.7 44.6 Overhead costs to total assets (%) 2.3 2.0 1.6 Return on average assets (%) 1.0 0.8 0.3 Return on average equity (%) 16.6 9.1 3.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 98.7 140.1 191.2 Stability—Financial Institutions Bank Z-score 24.9 26.6 28.7 Bank non-performing loans to gross loans (%) .. 5.3 7.8 Bank capital to total assets (%) .. 7.6 9.3 Bank credit to bank deposits (%) 148.2 160.7 132.7 Regulatory capital to risk-weighted assets (%) .. 10.6 12.4 Liquid assets to deposits and short term funding (%) 36.8 57.9 30.5 Stability—Financial Markets Volatility of stock price index 21.2 12.4 35.5 Other Indicators—Financial Institutions Bank concentration (%) 49.2 24.0 37.1 Bank deposits to GDP (%) 49.6 53.3 84.7 H-statistic .. .. 0.6 Lerner index 0.20 0.21 0.20 Boone indicator –0.04 –0.03 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.05 0.05 108 2013 The Little Data Book on Financial Development Latin America & Caribbean Jamaica Upper middle income Gross domestic product ($ billions) 13.9 Gross national income ($ billions) 13.3 Population (millions) 2.7 Inflation (%) 12.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 23.8 19.7 25.1 Deposit money bank assets to GDP (%) 36.0 40.7 40.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 32.8 122.8 47.0 Stock market total value traded to GDP (%) 0.6 4.1 1.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 7.1 21.5 52.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 7.1 6.7 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 71.0 Adults saving at a fin. inst. to total adults (%) .. .. 30.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.4 3.8 6.1 Lending-deposit spread (%) 11.7 9.9 14.1 Non-interest income to total income (%) 27.6 27.6 24.6 Overhead costs to total assets (%) 4.4 5.8 5.9 Return on average assets (%) 9.6 2.6 2.7 Return on average equity (%) 32.9 20.4 20.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 1.5 3.1 5.8 Stability—Financial Institutions Bank Z-score 7.3 25.7 24.3 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 74.6 51.9 88.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 25.0 27.4 18.0 Stability—Financial Markets Volatility of stock price index 18.0 14.0 13.7 Other Indicators—Financial Institutions Bank concentration (%) 76.2 61.4 63.0 Bank deposits to GDP (%) 32.8 39.8 40.5 H-statistic .. .. 0.4 Lerner index 0.25 0.31 0.40 Boone indicator 0.00 –0.11 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.18 0.15 0.14 The Little Data Book on Financial Development 2013 109 Japan High income Gross domestic product ($ billions) 5,488.4 Gross national income ($ billions) 5,628.0 Population (millions) 127.5 Inflation (%) –0.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 195.3 98.7 103.0 Deposit money bank assets to GDP (%) 236.5 155.1 180.0 Non-bank financial institutions’ assets to GDP (%) 64.1 165.7 50.5 Depth—Financial Markets Stock market capitalization to GDP (%) 84.1 91.0 70.5 Stock market total value traded to GDP (%) 49.1 91.2 80.1 Outstanding domestic private debt securities to GDP (%) 48.8 41.2 37.6 Outstanding domestic public debt securities to GDP (%) 80.2 146.1 201.2 Outstanding international debt securities to GDP (%) 6.9 6.3 7.8 Access—Financial Institutions Bank accounts per 1,000 adults .. 7,827 7,169 Bank branches per 100,000 adults .. 34.4 34.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 96.4 Adults saving at a fin. inst. to total adults (%) .. .. 51.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 36.5 26.5 42.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 76.8 69.9 66.2 Corporate bonds to total bonds and notes outstanding (%) 35.1 20.0 13.6 Efficiency—Financial Institutions Net interest margin (%) 1.4 1.2 1.0 Lending-deposit spread (%) 2.0 1.4 1.1 Non-interest income to total income (%) 16.8 28.9 21.3 Overhead costs to total assets (%) 1.0 0.9 0.8 Return on average assets (%) 0.1 0.1 0.2 Return on average equity (%) 1.7 1.5 4.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 69.3 120.1 110.2 Stability—Financial Institutions Bank Z-score 13.1 13.3 35.2 Bank non-performing loans to gross loans (%) .. 1.8 1.8 Bank capital to total assets (%) .. 4.8 4.8 Bank credit to bank deposits (%) 83.5 52.2 50.8 Regulatory capital to risk-weighted assets (%) .. 12.5 16.7 Liquid assets to deposits and short term funding (%) 11.2 11.8 10.0 Stability—Financial Markets Volatility of stock price index 23.7 18.2 23.7 Other Indicators—Financial Institutions Bank concentration (%) 25.1 26.2 33.5 Bank deposits to GDP (%) 230.2 191.9 179.9 H-statistic .. .. 0.5 Lerner index 0.26 0.27 0.23 Boone indicator –0.02 –0.02 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.20 0.26 0.28 110 2013 The Little Data Book on Financial Development Middle East & North Africa Jordan Upper middle income Gross domestic product ($ billions) 26.4 Gross national income ($ billions) 26.3 Population (millions) 6.0 Inflation (%) 5.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 70.0 77.2 67.5 Deposit money bank assets to GDP (%) 86.4 96.4 95.2 Non-bank financial institutions’ assets to GDP (%) 5.9 .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 63.3 220.1 119.1 Stock market total value traded to GDP (%) 5.7 113.8 44.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 9.5 1.4 1.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 18.6 18.1 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 25.5 Adults saving at a fin. inst. to total adults (%) .. .. 8.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. 59.2 49.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. 34.6 30.1 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.5 2.3 2.4 Lending-deposit spread (%) 4.8 4.7 5.5 Non-interest income to total income (%) 29.1 38.1 32.4 Overhead costs to total assets (%) 1.8 2.0 1.6 Return on average assets (%) 0.8 1.5 0.9 Return on average equity (%) 10.5 12.9 5.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 6.9 85.9 40.3 Stability—Financial Institutions Bank Z-score 26.4 36.7 46.3 Bank non-performing loans to gross loans (%) .. 6.6 7.9 Bank capital to total assets (%) .. 8.2 10.5 Bank credit to bank deposits (%) 79.5 75.6 72.6 Regulatory capital to risk-weighted assets (%) .. 17.6 20.3 Liquid assets to deposits and short term funding (%) 50.8 47.3 36.1 Stability—Financial Markets Volatility of stock price index 14.0 19.9 19.2 Other Indicators—Financial Institutions Bank concentration (%) 78.3 78.5 70.9 Bank deposits to GDP (%) 85.5 105.9 91.2 H-statistic .. .. 0.3 Lerner index 0.14 0.44 0.34 Boone indicator –0.07 –0.06 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.34 0.37 0.46 The Little Data Book on Financial Development 2013 111 Kazakhstan Europe & Central Asia Upper middle income Gross domestic product ($ billions) 148.0 Gross national income ($ billions) 129.7 Population (millions) 16.3 Inflation (%) 7.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.4 27.8 39.5 Deposit money bank assets to GDP (%) 10.2 29.9 43.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 9.0 12.6 40.3 Stock market total value traded to GDP (%) 0.3 1.8 2.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 8.2 13.4 .. Access—Financial Institutions Bank accounts per 1,000 adults .. 831 874 Bank branches per 100,000 adults .. 3.9 3.3 Firms with line of credit to total firms (all firms) (%) .. .. 33.2 Small firms with line of credit to total small firms (%) .. .. 18.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 42.1 Adults saving at a fin. inst. to total adults (%) .. .. 6.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 13.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.4 2.9 1.6 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 43.2 36.9 95.7 Overhead costs to total assets (%) 5.4 2.4 3.2 Return on average assets (%) 2.4 1.9 20.3 Return on average equity (%) 15.6 18.0 189.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 3.9 15.0 6.2 Stability—Financial Institutions Bank Z-score 39.2 5.6 4.4 Bank non-performing loans to gross loans (%) .. .. 23.8 Bank capital to total assets (%) .. 13.0 10.9 Bank credit to bank deposits (%) 101.0 165.6 306.6 Regulatory capital to risk-weighted assets (%) .. 14.9 17.9 Liquid assets to deposits and short term funding (%) 39.9 36.3 25.0 Stability—Financial Markets Volatility of stock price index 39.5 37.6 39.6 Other Indicators—Financial Institutions Bank concentration (%) 74.4 60.2 59.9 Bank deposits to GDP (%) 8.7 18.2 39.1 H-statistic .. .. 0.6 Lerner index 0.24 0.33 0.22 Boone indicator –0.03 0.00 0.16 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.04 0.04 112 2013 The Little Data Book on Financial Development Sub-Saharan Africa Kenya Low income Gross domestic product ($ billions) 32.2 Gross national income ($ billions) 32.0 Population (millions) 40.5 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 25.6 25.6 30.6 Deposit money bank assets to GDP (%) 33.8 35.2 45.9 Non-bank financial institutions’ assets to GDP (%) 3.5 2.0 .. Depth—Financial Markets Stock market capitalization to GDP (%) 10.4 28.0 38.4 Stock market total value traded to GDP (%) 0.5 2.3 2.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 115 370 Bank branches per 100,000 adults .. 2.6 4.4 Firms with line of credit to total firms (all firms) (%) .. 25.4 .. Small firms with line of credit to total small firms (%) .. 17.6 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 42.3 Adults saving at a fin. inst. to total adults (%) .. .. 23.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 7.1 7.7 6.0 Lending-deposit spread (%) 14.2 7.8 9.8 Non-interest income to total income (%) 22.9 39.1 37.6 Overhead costs to total assets (%) 4.9 6.1 5.5 Return on average assets (%) 0.8 2.4 3.7 Return on average equity (%) 7.7 18.4 23.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.5 9.6 15.8 Stability—Financial Institutions Bank Z-score 19.0 17.5 20.9 Bank non-performing loans to gross loans (%) .. 10.6 6.3 Bank capital to total assets (%) .. 12.0 13.2 Bank credit to bank deposits (%) 86.5 76.4 67.6 Regulatory capital to risk-weighted assets (%) .. 16.3 20.8 Liquid assets to deposits and short term funding (%) 39.2 32.8 23.4 Stability—Financial Markets Volatility of stock price index 13.4 14.8 21.8 Other Indicators—Financial Institutions Bank concentration (%) 53.8 43.6 36.2 Bank deposits to GDP (%) 29.3 32.9 28.6 H-statistic .. .. 0.7 Lerner index 0.20 0.28 0.35 Boone indicator –0.07 –0.07 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.01 0.01 The Little Data Book on Financial Development 2013 113 Kiribati East Asia & Pacific Lower middle income Gross domestic product ($ millions) 151.2 Gross national income ($ millions) 216.3 Population (thousands) 100 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 67.5 .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) 3.4 .. .. Return on average equity (%) 78.9 .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 98.2 .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 114 2013 The Little Data Book on Financial Development East Asia & Pacific Korea, Dem. Rep. Low income Gross domestic product ($ millions) .. Gross national income ($ millions) .. Population (millions) 24.3 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) 1.0 .. .. Return on average equity (%) 10.5 .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 455.1 .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 115 Korea, Rep. High income Gross domestic product ($ billions) 1,014.9 Gross national income ($ billions) 1,016.2 Population (millions) 49.4 Inflation (%) 2.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 69.6 83.7 99.2 Deposit money bank assets to GDP (%) 73.6 89.0 105.4 Non-bank financial institutions’ assets to GDP (%) 9.4 7.7 .. Depth—Financial Markets Stock market capitalization to GDP (%) 55.4 71.3 99.9 Stock market total value traded to GDP (%) 181.2 114.0 167.8 Outstanding domestic private debt securities to GDP (%) 50.7 53.0 66.8 Outstanding domestic public debt securities to GDP (%) 20.7 44.2 47.0 Outstanding international debt securities to GDP (%) 9.6 9.6 14.2 Access—Financial Institutions Bank accounts per 1,000 adults .. 3,997 4,522 Bank branches per 100,000 adults .. 17.4 18.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 93.0 Adults saving at a fin. inst. to total adults (%) .. .. 46.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 16.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 37.7 19.0 20.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 39.1 61.6 68.0 Corporate bonds to total bonds and notes outstanding (%) 69.2 49.0 55.7 Efficiency—Financial Institutions Net interest margin (%) 1.0 0.7 2.2 Lending-deposit spread (%) 0.6 1.9 1.7 Non-interest income to total income (%) 39.0 21.4 16.4 Overhead costs to total assets (%) 1.5 1.7 1.2 Return on average assets (%) 0.3 1.0 0.6 Return on average equity (%) 6.2 17.8 7.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 306.5 199.8 186.2 Stability—Financial Institutions Bank Z-score 10.9 19.8 14.1 Bank non-performing loans to gross loans (%) .. 1.2 1.9 Bank capital to total assets (%) .. 9.3 7.6 Bank credit to bank deposits (%) 115.6 136.6 138.8 Regulatory capital to risk-weighted assets (%) .. 13.0 14.6 Liquid assets to deposits and short term funding (%) 11.9 8.3 7.8 Stability—Financial Markets Volatility of stock price index 47.4 24.3 35.4 Other Indicators—Financial Institutions Bank concentration (%) 78.0 80.8 46.4 Bank deposits to GDP (%) 58.3 62.5 68.2 H-statistic .. .. 0.4 Lerner index 0.28 0.31 0.34 Boone indicator 2.49 1.59 1.64 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.28 0.34 0.36 116 2013 The Little Data Book on Financial Development Europe & Central Asia Kosovo Lower middle income Gross domestic product ($ billions) 5.6 Gross national income ($ billions) 5.7 Population (millions) 1.8 Inflation (%) 3.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 14.7 32.2 Deposit money bank assets to GDP (%) .. 14.7 32.3 Non-bank financial institutions’ assets to GDP (%) .. 1.5 1.2 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 770 Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 44.3 Adults saving at a fin. inst. to total adults (%) .. .. 4.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 5.4 64.3 89.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. 24.5 31.6 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 117 Kuwait High income Gross domestic product ($ billions) 124.3 Gross national income ($ billions) 132.2 Population (millions) 2.7 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 44.0 46.2 75.8 Deposit money bank assets to GDP (%) 77.0 57.3 82.0 Non-bank financial institutions’ assets to GDP (%) 3.3 6.4 4.0 Depth—Financial Markets Stock market capitalization to GDP (%) 51.8 122.8 91.0 Stock market total value traded to GDP (%) 13.4 87.8 85.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 86.8 Adults saving at a fin. inst. to total adults (%) .. .. 40.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 20.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 0.0 2.3 Lending-deposit spread (%) 3.0 4.0 2.6 Non-interest income to total income (%) 27.4 33.2 30.6 Overhead costs to total assets (%) 1.1 1.1 1.1 Return on average assets (%) 2.0 3.0 1.6 Return on average equity (%) 17.6 23.1 11.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 19.7 94.7 90.7 Stability—Financial Institutions Bank Z-score 19.6 23.9 28.8 Bank non-performing loans to gross loans (%) .. 4.1 8.9 Bank capital to total assets (%) .. 13.0 12.6 Bank credit to bank deposits (%) 67.8 96.1 136.5 Regulatory capital to risk-weighted assets (%) .. 21.1 18.9 Liquid assets to deposits and short term funding (%) 61.2 46.9 20.3 Stability—Financial Markets Volatility of stock price index .. 17.3 15.4 Other Indicators—Financial Institutions Bank concentration (%) 61.2 49.2 70.2 Bank deposits to GDP (%) 64.2 50.0 70.5 H-statistic .. .. 0.8 Lerner index 0.24 0.58 0.39 Boone indicator –0.09 –0.14 –0.15 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.40 0.63 0.79 118 2013 The Little Data Book on Financial Development Europe & Central Asia Kyrgyz Republic Low income Gross domestic product ($ billions) 4.8 Gross national income ($ billions) 4.5 Population (millions) 5.4 Inflation (%) 8.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 4.0 7.2 .. Deposit money bank assets to GDP (%) 4.2 8.3 .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 0.3 1.6 1.5 Stock market total value traded to GDP (%) 1.0 1.7 0.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 181 Bank branches per 100,000 adults .. 5.3 6.2 Firms with line of credit to total firms (all firms) (%) .. .. 20.4 Small firms with line of credit to total small firms (%) .. .. 13.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 3.8 Adults saving at a fin. inst. to total adults (%) .. .. 0.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.6 3.4 3.1 Lending-deposit spread (%) 33.5 20.8 27.4 Non-interest income to total income (%) 85.6 40.7 24.5 Overhead costs to total assets (%) 17.6 3.5 5.2 Return on average assets (%) 4.0 2.2 2.6 Return on average equity (%) 17.6 14.2 16.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 517.7 33.6 20.5 Stability—Financial Institutions Bank Z-score 11.4 9.2 14.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 81.3 96.5 .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 79.0 70.6 63.4 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 80.3 100.0 Bank deposits to GDP (%) 4.9 8.2 12.4 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.07 –0.06 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.16 0.02 0.02 The Little Data Book on Financial Development 2013 119 Lao PDR East Asia & Pacific Lower middle income Gross domestic product ($ billions) 7.2 Gross national income ($ billions) 6.7 Population (millions) 6.2 Inflation (%) 3.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 6.7 6.2 13.0 Deposit money bank assets to GDP (%) 8.7 9.2 15.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 44 Bank branches per 100,000 adults .. 1.6 2.6 Firms with line of credit to total firms (all firms) (%) .. .. 18.5 Small firms with line of credit to total small firms (%) .. .. 15.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 26.8 Adults saving at a fin. inst. to total adults (%) .. .. 19.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 18.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 2.4 3.0 Lending-deposit spread (%) 20.0 22.1 19.6 Non-interest income to total income (%) .. 47.8 41.5 Overhead costs to total assets (%) .. 1.7 2.3 Return on average assets (%) 0.0 1.0 1.1 Return on average equity (%) 1.8 50.7 13.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 0.5 14.2 4.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 49.0 43.8 71.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 54.1 44.6 58.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 96.4 Bank deposits to GDP (%) 13.6 15.9 21.3 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.03 0.00 0.16 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 120 2013 The Little Data Book on Financial Development Europe & Central Asia Latvia Upper middle income Gross domestic product ($ billions) 24.0 Gross national income ($ billions) 24.5 Population (millions) 2.2 Inflation (%) –1.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.7 54.9 88.1 Deposit money bank assets to GDP (%) 20.8 59.5 103.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 6.0 12.8 6.3 Stock market total value traded to GDP (%) 1.7 0.6 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 2.7 5.1 5.7 Access—Financial Institutions Bank accounts per 1,000 adults .. 932 1,286 Bank branches per 100,000 adults .. 31.0 31.7 Firms with line of credit to total firms (all firms) (%) .. .. 48.5 Small firms with line of credit to total small firms (%) .. .. 40.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 89.7 Adults saving at a fin. inst. to total adults (%) .. .. 13.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.9 2.7 1.3 Lending-deposit spread (%) 7.5 3.3 7.7 Non-interest income to total income (%) 49.3 40.2 55.0 Overhead costs to total assets (%) 4.5 2.3 1.9 Return on average assets (%) 1.4 1.9 –2.3 Return on average equity (%) 16.6 22.9 –25.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 39.7 4.7 2.5 Stability—Financial Institutions Bank Z-score 3.9 3.7 3.2 Bank non-performing loans to gross loans (%) .. 0.7 19.0 Bank capital to total assets (%) .. 7.6 7.3 Bank credit to bank deposits (%) 103.0 189.0 314.5 Regulatory capital to risk-weighted assets (%) .. 10.1 14.6 Liquid assets to deposits and short term funding (%) 41.2 35.4 43.0 Stability—Financial Markets Volatility of stock price index 33.4 15.7 35.3 Other Indicators—Financial Institutions Bank concentration (%) 52.6 58.2 47.6 Bank deposits to GDP (%) 16.3 30.7 38.8 H-statistic .. .. 0.9 Lerner index 0.31 0.32 0.22 Boone indicator 1.06 0.06 0.22 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.27 0.20 0.15 The Little Data Book on Financial Development 2013 121 Lebanon Middle East & North Africa Upper middle income Gross domestic product ($ billions) 39.0 Gross national income ($ billions) 38.5 Population (millions) 4.2 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. 69.2 Deposit money bank assets to GDP (%) .. .. 143.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. 32.4 Stock market total value traded to GDP (%) .. .. 3.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. 77.9 Outstanding international debt securities to GDP (%) .. .. 61.6 Access—Financial Institutions Bank accounts per 1,000 adults .. 742 917 Bank branches per 100,000 adults .. 29.7 30.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 37.0 Adults saving at a fin. inst. to total adults (%) .. .. 17.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.8 2.4 2.3 Lending-deposit spread (%) 6.9 2.5 2.1 Non-interest income to total income (%) 20.7 22.5 35.9 Overhead costs to total assets (%) 1.7 1.3 1.5 Return on average assets (%) 0.8 0.6 1.1 Return on average equity (%) 10.6 7.8 11.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. 15.6 Stability—Financial Institutions Bank Z-score 26.6 33.5 35.1 Bank non-performing loans to gross loans (%) .. 16.4 4.3 Bank capital to total assets (%) .. 7.5 7.3 Bank credit to bank deposits (%) 46.7 30.4 34.2 Regulatory capital to risk-weighted assets (%) .. 22.9 13.4 Liquid assets to deposits and short term funding (%) 32.7 46.2 30.4 Stability—Financial Markets Volatility of stock price index 15.4 22.1 16.3 Other Indicators—Financial Institutions Bank concentration (%) 41.2 41.2 47.7 Bank deposits to GDP (%) .. .. 213.0 H-statistic .. .. 0.7 Lerner index 0.14 0.17 0.24 Boone indicator –0.05 –0.04 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.03 0.02 122 2013 The Little Data Book on Financial Development Sub-Saharan Africa Lesotho Lower middle income Gross domestic product ($ billions) 2.2 Gross national income ($ billions) 2.7 Population (millions) 2.2 Inflation (%) 3.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 14.0 7.1 12.6 Deposit money bank assets to GDP (%) 25.6 13.4 15.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 271 291 Bank branches per 100,000 adults .. 2.4 3.5 Firms with line of credit to total firms (all firms) (%) .. .. 32.2 Small firms with line of credit to total small firms (%) .. .. 21.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 18.5 Adults saving at a fin. inst. to total adults (%) .. .. 7.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.6 4.3 6.5 Lending-deposit spread (%) 12.2 7.8 7.5 Non-interest income to total income (%) 26.0 47.5 43.3 Overhead costs to total assets (%) 4.0 5.1 4.5 Return on average assets (%) 2.5 2.5 2.7 Return on average equity (%) 25.1 19.7 31.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 21.9 27.1 19.7 Bank non-performing loans to gross loans (%) .. 3.0 3.7 Bank capital to total assets (%) .. 10.2 8.4 Bank credit to bank deposits (%) 54.2 34.5 41.3 Regulatory capital to risk-weighted assets (%) .. 22.0 16.0 Liquid assets to deposits and short term funding (%) 102.7 83.9 69.5 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Bank deposits to GDP (%) 26.3 23.9 38.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 0.02 0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 123 Liberia Sub-Saharan Africa Low income Gross domestic product ($ millions) 987.9 Gross national income ($ millions) 808.5 Population (millions) 4.0 Inflation (%) 6.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 2.9 5.7 13.8 Deposit money bank assets to GDP (%) 5.3 8.6 16.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 14.0 Small firms with line of credit to total small firms (%) .. .. 13.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 18.8 Adults saving at a fin. inst. to total adults (%) .. .. 13.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 8.8 5.6 Lending-deposit spread (%) 14.3 13.6 10.1 Non-interest income to total income (%) .. 71.2 62.7 Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. 2.9 0.0 Return on average equity (%) .. 32.5 0.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 9.4 5.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 51.4 46.4 51.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 102.8 59.4 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 100.0 Bank deposits to GDP (%) 4.5 11.7 27.1 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. 0.00 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 124 2013 The Little Data Book on Financial Development Middle East & North Africa Libya Upper middle income Gross domestic product ($ billions) 62.4 Gross national income ($ billions) 62.0 Population (millions) 6.4 Inflation (%) 2.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.4 7.8 10.3 Deposit money bank assets to GDP (%) 33.0 11.8 14.6 Non-bank financial institutions’ assets to GDP (%) 4.5 4.3 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 8.7 10.5 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.8 1.2 0.7 Lending-deposit spread (%) 4.0 4.0 3.5 Non-interest income to total income (%) 43.9 40.5 41.3 Overhead costs to total assets (%) 0.9 0.4 0.3 Return on average assets (%) 0.8 0.6 0.8 Return on average equity (%) 12.7 7.0 3.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 35.3 44.1 124.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 61.4 38.9 24.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 42.8 82.4 91.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 93.2 84.9 100.0 Bank deposits to GDP (%) 26.9 18.3 43.1 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.02 –0.01 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 125 Liechtenstein High income Gross domestic product ($ billions) 4.8 Gross national income ($ billions) 4.8 Population (thousands) 36 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.4 1.1 1.2 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) 0.0 0.0 0.0 Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 94.9 87.2 94.2 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 126 2013 The Little Data Book on Financial Development Europe & Central Asia Lithuania Upper middle income Gross domestic product ($ billions) 36.3 Gross national income ($ billions) 36.0 Population (millions) 3.3 Inflation (%) 1.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 13.5 32.8 66.1 Deposit money bank assets to GDP (%) 18.2 37.6 69.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 12.0 28.2 13.7 Stock market total value traded to GDP (%) 2.2 2.3 0.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 7.4 10.3 23.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 24.9 27.3 Firms with line of credit to total firms (all firms) (%) .. .. 53.0 Small firms with line of credit to total small firms (%) .. .. 43.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 73.8 Adults saving at a fin. inst. to total adults (%) .. .. 20.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 5.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 0.0 1.5 Lending-deposit spread (%) 8.3 2.9 3.6 Non-interest income to total income (%) 41.5 41.5 46.0 Overhead costs to total assets (%) 4.9 1.9 1.6 Return on average assets (%) 0.5 0.8 –0.4 Return on average equity (%) 4.6 10.3 –5.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 14.2 10.1 7.7 Stability—Financial Institutions Bank Z-score 7.3 4.2 5.0 Bank non-performing loans to gross loans (%) .. 0.6 19.7 Bank capital to total assets (%) .. 7.9 8.9 Bank credit to bank deposits (%) 77.3 125.1 212.8 Regulatory capital to risk-weighted assets (%) .. 10.3 15.6 Liquid assets to deposits and short term funding (%) 55.7 27.8 22.1 Stability—Financial Markets Volatility of stock price index 19.5 16.3 30.5 Other Indicators—Financial Institutions Bank concentration (%) 84.0 78.3 67.8 Bank deposits to GDP (%) 15.4 28.2 36.3 H-statistic .. .. 0.8 Lerner index 0.12 0.21 0.05 Boone indicator 0.11 0.14 0.19 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.15 0.13 0.12 The Little Data Book on Financial Development 2013 127 Luxembourg High income Gross domestic product ($ billions) 53.0 Gross national income ($ billions) 37.7 Population (thousands) 507 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 95.9 112.7 179.6 Deposit money bank assets to GDP (%) 100.0 116.7 187.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 160.4 135.1 189.9 Stock market total value traded to GDP (%) 5.2 0.8 0.4 Outstanding domestic private debt securities to GDP (%) 8.5 .. 2.6 Outstanding domestic public debt securities to GDP (%) 2.9 1.1 0.0 Outstanding international debt securities to GDP (%) 61.9 169.1 176.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 98.0 93.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 94.6 Adults saving at a fin. inst. to total adults (%) .. .. 52.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 17.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.3 85.3 96.8 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 17.4 7.1 3.4 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.8 0.6 1.0 Lending-deposit spread (%) 2.0 .. .. Non-interest income to total income (%) 58.1 56.3 39.2 Overhead costs to total assets (%) 0.7 0.6 0.5 Return on average assets (%) 0.5 0.5 0.5 Return on average equity (%) 11.7 11.9 11.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 3.3 0.5 0.2 Stability—Financial Institutions Bank Z-score 20.3 18.3 27.3 Bank non-performing loans to gross loans (%) .. 0.2 0.2 Bank capital to total assets (%) .. 4.9 5.2 Bank credit to bank deposits (%) 15.0 21.4 37.1 Regulatory capital to risk-weighted assets (%) .. 15.4 17.4 Liquid assets to deposits and short term funding (%) 60.4 62.4 62.4 Stability—Financial Markets Volatility of stock price index 23.1 14.4 33.6 Other Indicators—Financial Institutions Bank concentration (%) 26.8 35.5 33.1 Bank deposits to GDP (%) 641.0 583.1 502.1 H-statistic .. .. 0.8 Lerner index 0.11 0.16 0.23 Boone indicator –0.05 –0.03 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 1.24 0.84 0.65 128 2013 The Little Data Book on Financial Development Macao SAR, China High income Gross domestic product ($ billions) 28.3 Gross national income ($ billions) 25.2 Population (thousands) 544 Inflation (%) 2.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 82.8 42.1 50.9 Deposit money bank assets to GDP (%) 82.8 44.2 51.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 28.5 35.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.8 1.5 0.9 Lending-deposit spread (%) 4.6 5.5 5.2 Non-interest income to total income (%) 25.9 35.0 41.2 Overhead costs to total assets (%) 1.3 1.0 1.1 Return on average assets (%) 0.8 1.4 0.9 Return on average equity (%) 10.1 19.1 10.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 27.6 21.3 20.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 47.0 32.2 69.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 54.7 50.7 34.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 66.8 70.9 82.5 Bank deposits to GDP (%) 170.8 136.4 87.2 H-statistic .. .. 0.0 Lerner index 0.11 0.31 0.45 Boone indicator –0.10 –0.08 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 129 Macedonia, FYR Europe & Central Asia Upper middle income Gross domestic product ($ billions) 9.1 Gross national income ($ billions) 9.0 Population (millions) 2.1 Inflation (%) 1.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 18.2 21.9 43.5 Deposit money bank assets to GDP (%) 20.2 24.7 47.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 0.2 8.8 19.1 Stock market total value traded to GDP (%) 2.0 1.1 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.0 4.8 5.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 15.8 26.6 Firms with line of credit to total firms (all firms) (%) .. .. 61.1 Small firms with line of credit to total small firms (%) .. .. 58.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 73.7 Adults saving at a fin. inst. to total adults (%) .. .. 7.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.0 3.3 2.9 Lending-deposit spread (%) 7.7 6.9 2.4 Non-interest income to total income (%) 43.0 40.0 31.3 Overhead costs to total assets (%) 4.7 3.8 3.1 Return on average assets (%) 0.6 1.4 1.0 Return on average equity (%) 2.9 9.2 8.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 171.2 18.3 2.4 Stability—Financial Institutions Bank Z-score 13.9 12.8 10.4 Bank non-performing loans to gross loans (%) .. 15.0 9.0 Bank capital to total assets (%) .. 15.8 10.6 Bank credit to bank deposits (%) 119.8 76.5 92.5 Regulatory capital to risk-weighted assets (%) .. 21.3 16.1 Liquid assets to deposits and short term funding (%) 49.6 46.5 31.5 Stability—Financial Markets Volatility of stock price index .. 23.7 32.7 Other Indicators—Financial Institutions Bank concentration (%) 78.2 75.1 70.6 Bank deposits to GDP (%) 13.4 29.1 55.7 H-statistic .. .. 0.0 Lerner index 0.40 0.37 0.09 Boone indicator –0.06 –0.06 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.00 0.28 0.17 130 2013 The Little Data Book on Financial Development Sub-Saharan Africa Madagascar Low income Gross domestic product ($ billions) 8.7 Gross national income ($ billions) 8.6 Population (millions) 20.7 Inflation (%) 9.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.0 8.9 11.1 Deposit money bank assets to GDP (%) 10.1 11.2 13.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 18 45 Bank branches per 100,000 adults .. 1.2 1.6 Firms with line of credit to total firms (all firms) (%) .. .. 20.6 Small firms with line of credit to total small firms (%) .. .. 15.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 5.5 Adults saving at a fin. inst. to total adults (%) .. .. 1.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 2.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.3 6.7 5.5 Lending-deposit spread (%) 11.5 8.3 38.5 Non-interest income to total income (%) 29.5 24.2 38.1 Overhead costs to total assets (%) 4.2 3.7 3.9 Return on average assets (%) 2.9 3.8 1.0 Return on average equity (%) 28.3 37.8 9.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.8 13.0 10.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 62.9 69.6 68.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 53.7 54.6 56.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 87.4 87.5 89.1 Bank deposits to GDP (%) 13.0 14.0 16.4 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.02 –0.03 0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 131 Malawi Sub-Saharan Africa Low income Gross domestic product ($ billions) 5.1 Gross national income ($ billions) 4.9 Population (millions) 14.9 Inflation (%) 7.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 4.5 4.8 14.2 Deposit money bank assets to GDP (%) 7.6 8.4 18.3 Non-bank financial institutions’ assets to GDP (%) 4.0 3.4 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 6.7 26.2 Stock market total value traded to GDP (%) .. 0.2 0.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 40.1 Small firms with line of credit to total small firms (%) .. .. 27.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 16.5 Adults saving at a fin. inst. to total adults (%) .. .. 8.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 7.2 6.5 6.3 Lending-deposit spread (%) 19.9 22.2 21.0 Non-interest income to total income (%) 37.4 40.8 44.7 Overhead costs to total assets (%) 7.7 9.3 8.8 Return on average assets (%) 5.1 3.6 4.3 Return on average equity (%) 37.7 25.0 24.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 4.3 2.4 Stability—Financial Institutions Bank Z-score 16.1 16.9 18.7 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 40.5 41.6 70.9 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 65.8 67.9 35.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 77.1 76.3 65.4 Bank deposits to GDP (%) 11.4 11.8 20.8 H-statistic .. .. .. Lerner index 0.35 0.14 0.29 Boone indicator –0.11 –0.07 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. 0.01 0.01 132 2013 The Little Data Book on Financial Development East Asia & Pacific Malaysia Upper middle income Gross domestic product ($ billions) 237.8 Gross national income ($ billions) 229.6 Population (millions) 28.4 Inflation (%) 1.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 122.8 106.0 109.0 Deposit money bank assets to GDP (%) 131.0 113.8 123.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 139.6 135.0 144.7 Stock market total value traded to GDP (%) 56.9 40.0 35.7 Outstanding domestic private debt securities to GDP (%) 32.8 37.2 51.9 Outstanding domestic public debt securities to GDP (%) 28.2 35.9 48.6 Outstanding international debt securities to GDP (%) 16.5 21.0 16.3 Access—Financial Institutions Bank accounts per 1,000 adults .. 1,892 1,620 Bank branches per 100,000 adults .. 11.9 10.5 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 66.2 Adults saving at a fin. inst. to total adults (%) .. .. 35.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 20.8 26.8 37.4 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 59.8 63.2 63.0 Corporate bonds to total bonds and notes outstanding (%) 39.4 39.2 41.0 Efficiency—Financial Institutions Net interest margin (%) 3.3 3.0 3.1 Lending-deposit spread (%) 4.3 3.0 2.5 Non-interest income to total income (%) 25.6 31.5 28.2 Overhead costs to total assets (%) 1.4 1.3 1.4 Return on average assets (%) 1.0 1.3 1.2 Return on average equity (%) 11.0 17.1 14.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 41.0 26.8 29.9 Stability—Financial Institutions Bank Z-score 20.4 18.6 20.9 Bank non-performing loans to gross loans (%) .. 9.4 3.4 Bank capital to total assets (%) .. 7.7 9.1 Bank credit to bank deposits (%) 112.4 97.4 86.7 Regulatory capital to risk-weighted assets (%) .. 13.7 17.5 Liquid assets to deposits and short term funding (%) 26.7 28.7 26.9 Stability—Financial Markets Volatility of stock price index 33.7 10.3 16.6 Other Indicators—Financial Institutions Bank concentration (%) 43.1 35.3 36.6 Bank deposits to GDP (%) 107.6 110.2 109.1 H-statistic .. .. 0.7 Lerner index 0.38 0.33 0.33 Boone indicator –0.02 –0.01 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.34 0.39 0.34 The Little Data Book on Financial Development 2013 133 Maldives South Asia Upper middle income Gross domestic product ($ billions) 2.1 Gross national income ($ billions) 2.0 Population (thousands) 316 Inflation (%) 4.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 41.5 63.3 Deposit money bank assets to GDP (%) .. 45.7 85.6 Non-bank financial institutions’ assets to GDP (%) .. 0.1 0.8 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 795 1,200 Bank branches per 100,000 adults .. 13.7 17.1 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 10.3 6.3 Lending-deposit spread (%) 6.1 6.5 6.3 Non-interest income to total income (%) .. 30.5 28.3 Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. 4.2 0.5 Return on average equity (%) .. 31.8 3.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 9.5 7.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 60.5 95.6 195.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 35.3 19.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. 38.5 43.6 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 134 2013 The Little Data Book on Financial Development Sub-Saharan Africa Mali Low income Gross domestic product ($ billions) 9.4 Gross national income ($ billions) 9.0 Population (millions) 15.4 Inflation (%) 1.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.5 18.3 17.4 Deposit money bank assets to GDP (%) 17.4 19.4 19.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 10.0 16.6 Small firms with line of credit to total small firms (%) .. 5.8 12.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 8.2 Adults saving at a fin. inst. to total adults (%) .. .. 4.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.4 5.3 3.8 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 33.0 40.4 49.8 Overhead costs to total assets (%) 4.4 4.9 4.9 Return on average assets (%) –0.1 –0.3 1.3 Return on average equity (%) –0.8 –2.9 15.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.7 14.4 11.3 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 109.4 97.2 86.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 35.1 31.3 31.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 75.1 72.1 78.5 Bank deposits to GDP (%) 14.4 18.1 19.9 H-statistic .. .. .. Lerner index 0.28 0.28 0.27 Boone indicator –0.13 –0.10 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 135 Malta High income Gross domestic product ($ billions) 8.2 Gross national income ($ billions) 7.5 Population (thousands) 416 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 101.8 102.7 127.7 Deposit money bank assets to GDP (%) 129.0 133.8 156.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 48.1 57.4 26.1 Stock market total value traded to GDP (%) 6.2 2.0 0.3 Outstanding domestic private debt securities to GDP (%) .. 17.3 9.5 Outstanding domestic public debt securities to GDP (%) .. 63.6 62.9 Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 3,116 3,577 Bank branches per 100,000 adults .. 39.3 39.7 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 95.3 Adults saving at a fin. inst. to total adults (%) .. .. 44.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 99.7 99.3 95.7 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 0.9 1.1 6.4 Corporate bonds to total bonds and notes outstanding (%) .. 5.0 7.5 Efficiency—Financial Institutions Net interest margin (%) 3.5 2.4 2.0 Lending-deposit spread (%) 2.4 2.8 .. Non-interest income to total income (%) –16.1 17.0 25.0 Overhead costs to total assets (%) 1.6 1.4 1.4 Return on average assets (%) 1.0 1.9 0.9 Return on average equity (%) 14.0 12.8 8.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 8.6 4.4 1.4 Stability—Financial Institutions Bank Z-score 23.3 16.2 12.8 Bank non-performing loans to gross loans (%) .. 7.4 7.2 Bank capital to total assets (%) .. 12.0 10.8 Bank credit to bank deposits (%) 85.2 77.3 87.2 Regulatory capital to risk-weighted assets (%) .. 17.1 15.3 Liquid assets to deposits and short term funding (%) 40.5 27.5 28.9 Stability—Financial Markets Volatility of stock price index 23.3 15.0 18.1 Other Indicators—Financial Institutions Bank concentration (%) 85.6 71.9 69.3 Bank deposits to GDP (%) 122.5 133.9 145.1 H-statistic .. .. .. Lerner index 0.21 0.34 0.37 Boone indicator –0.07 –0.08 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.26 0.32 0.48 136 2013 The Little Data Book on Financial Development East Asia & Pacific Marshall Islands Lower middle income Gross domestic product ($ millions) 162.9 Gross national income ($ millions) 197.5 Population (thousands) 54 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 137 Mauritania Sub-Saharan Africa Low income Gross domestic product ($ billions) 3.6 Gross national income ($ billions) 3.5 Population (millions) 3.5 Inflation (%) 6.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 11.5 27.8 Deposit money bank assets to GDP (%) .. 22.6 34.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 4.0 4.3 Firms with line of credit to total firms (all firms) (%) .. 16.0 .. Small firms with line of credit to total small firms (%) .. 12.1 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 17.5 Adults saving at a fin. inst. to total adults (%) .. .. 6.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 7.6 3.4 3.7 Lending-deposit spread (%) 16.2 15.1 9.0 Non-interest income to total income (%) 58.1 38.6 57.2 Overhead costs to total assets (%) 5.0 4.2 3.8 Return on average assets (%) 1.6 1.8 0.3 Return on average equity (%) 8.3 9.4 1.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 22.6 20.5 22.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. 128.9 116.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 47.8 43.7 46.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 78.5 66.9 81.6 Bank deposits to GDP (%) .. 8.9 22.8 H-statistic .. .. .. Lerner index 0.35 0.31 0.35 Boone indicator 0.04 0.02 0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 138 2013 The Little Data Book on Financial Development Sub-Saharan Africa Mauritius Upper middle income Gross domestic product ($ billions) 9.7 Gross national income ($ billions) 9.8 Population (millions) 1.3 Inflation (%) 2.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 54.2 72.2 82.5 Deposit money bank assets to GDP (%) 68.4 100.2 105.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 31.7 38.5 58.3 Stock market total value traded to GDP (%) 1.6 1.9 3.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 3.4 .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 322 .. Bank branches per 100,000 adults .. 20.8 .. Firms with line of credit to total firms (all firms) (%) .. .. 47.4 Small firms with line of credit to total small firms (%) .. .. 41.0 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 80.1 Adults saving at a fin. inst. to total adults (%) .. .. 30.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 14.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. 92.6 84.7 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. 13.7 47.1 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.4 2.9 2.9 Lending-deposit spread (%) 11.2 13.8 10.9 Non-interest income to total income (%) 22.0 48.1 63.6 Overhead costs to total assets (%) 0.6 2.7 2.6 Return on average assets (%) 3.0 1.6 2.4 Return on average equity (%) 12.6 9.1 16.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 4.1 6.2 8.7 Stability—Financial Institutions Bank Z-score 28.0 30.9 25.8 Bank non-performing loans to gross loans (%) .. 3.0 2.8 Bank capital to total assets (%) .. 7.3 7.3 Bank credit to bank deposits (%) 77.9 79.4 87.6 Regulatory capital to risk-weighted assets (%) .. 15.8 15.8 Liquid assets to deposits and short term funding (%) 49.2 30.2 39.6 Stability—Financial Markets Volatility of stock price index 10.6 14.4 26.2 Other Indicators—Financial Institutions Bank concentration (%) 91.3 64.8 46.2 Bank deposits to GDP (%) 70.4 91.5 85.7 H-statistic .. .. .. Lerner index 0.30 0.15 0.36 Boone indicator –0.15 –0.12 –0.09 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.34 0.34 0.67 The Little Data Book on Financial Development 2013 139 Mexico Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 1,035.9 Gross national income ($ billions) 1,024.0 Population (millions) 113.4 Inflation (%) 4.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.7 13.2 17.7 Deposit money bank assets to GDP (%) 32.6 24.8 34.0 Non-bank financial institutions’ assets to GDP (%) 4.3 8.3 9.2 Depth—Financial Markets Stock market capitalization to GDP (%) 24.4 24.4 39.5 Stock market total value traded to GDP (%) 7.0 5.7 9.2 Outstanding domestic private debt securities to GDP (%) 9.8 13.9 16.7 Outstanding domestic public debt securities to GDP (%) 11.7 15.4 22.8 Outstanding international debt securities to GDP (%) 15.0 10.3 10.2 Access—Financial Institutions Bank accounts per 1,000 adults .. .. 1,245 Bank branches per 100,000 adults .. 11.2 15.2 Firms with line of credit to total firms (all firms) (%) .. 11.4 32.0 Small firms with line of credit to total small firms (%) .. 11.7 26.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 27.4 Adults saving at a fin. inst. to total adults (%) .. .. 6.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.8 70.5 60.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 36.0 36.5 33.9 Corporate bonds to total bonds and notes outstanding (%) 27.5 47.6 42.5 Efficiency—Financial Institutions Net interest margin (%) 5.9 6.7 5.2 Lending-deposit spread (%) 8.7 6.2 4.1 Non-interest income to total income (%) 22.9 9.8 17.8 Overhead costs to total assets (%) 4.9 9.3 2.8 Return on average assets (%) 1.0 1.6 0.6 Return on average equity (%) 11.1 12.3 6.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 25.1 25.4 33.0 Stability—Financial Institutions Bank Z-score 13.1 10.2 8.5 Bank non-performing loans to gross loans (%) .. 1.5 2.0 Bank capital to total assets (%) .. 8.8 10.4 Bank credit to bank deposits (%) 72.9 66.4 86.7 Regulatory capital to risk-weighted assets (%) .. 14.3 16.9 Liquid assets to deposits and short term funding (%) 20.4 98.7 132.2 Stability—Financial Markets Volatility of stock price index 34.8 17.7 31.3 Other Indicators—Financial Institutions Bank concentration (%) 57.2 59.0 74.2 Bank deposits to GDP (%) 24.5 20.6 22.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.31 –0.13 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.01 0.01 140 2013 The Little Data Book on Financial Development East Asia & Pacific Micronesia, Fed. Sts. Lower middle income Gross domestic product ($ millions) 297.5 Gross national income ($ millions) 311.7 Population (thousands) 111 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 43.0 Small firms with line of credit to total small firms (%) .. .. 29.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 10.7 14.8 14.2 Non-interest income to total income (%) 13.6 17.5 10.2 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 2.8 1.2 1.6 Return on average equity (%) 12.6 7.5 8.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 30.5 19.9 24.5 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 65.8 49.9 53.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 14.3 19.9 38.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 141 Moldova Europe & Central Asia Lower middle income Gross domestic product ($ billions) 5.8 Gross national income ($ billions) 6.3 Population (millions) 3.6 Inflation (%) 7.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.0 20.8 32.1 Deposit money bank assets to GDP (%) 14.2 24.9 36.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 2.7 .. .. Stock market total value traded to GDP (%) 2.2 1.2 1.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 5.5 .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 811 1,197 Bank branches per 100,000 adults .. 7.5 10.3 Firms with line of credit to total firms (all firms) (%) .. .. 39.6 Small firms with line of credit to total small firms (%) .. .. 30.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 18.1 Adults saving at a fin. inst. to total adults (%) .. .. 3.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 7.2 3.6 4.1 Lending-deposit spread (%) 8.9 6.0 8.7 Non-interest income to total income (%) 45.2 47.6 36.3 Overhead costs to total assets (%) 6.3 4.9 5.0 Return on average assets (%) 6.0 2.9 0.9 Return on average equity (%) 36.9 17.0 5.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 52.3 .. .. Stability—Financial Institutions Bank Z-score 17.0 17.0 16.5 Bank non-performing loans to gross loans (%) .. 5.3 13.3 Bank capital to total assets (%) .. 15.7 16.0 Bank credit to bank deposits (%) 96.4 79.0 118.9 Regulatory capital to risk-weighted assets (%) .. 27.2 30.1 Liquid assets to deposits and short term funding (%) 51.2 38.0 24.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 82.0 52.2 50.1 Bank deposits to GDP (%) 11.0 25.5 44.7 H-statistic .. .. 0.4 Lerner index 0.36 0.28 0.27 Boone indicator –0.12 –0.09 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.09 .. .. 142 2013 The Little Data Book on Financial Development Monaco High income Gross domestic product ($ billions) 6.1 Gross national income ($ billions) 6.1 Population (thousands) 35 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 0.0 1.0 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 59.4 .. .. Overhead costs to total assets (%) 1.6 .. .. Return on average assets (%) 0.2 –1.8 .. Return on average equity (%) 4.0 –17.4 .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.9 8.2 .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 87.2 100.0 .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.04 0.00 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 143 Mongolia East Asia & Pacific Lower middle income Gross domestic product ($ billions) 6.2 Gross national income ($ billions) 5.6 Population (millions) 2.8 Inflation (%) 10.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 6.8 24.9 36.8 Deposit money bank assets to GDP (%) 10.8 26.3 37.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 3.1 1.4 12.7 Stock market total value traded to GDP (%) 0.5 0.1 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 346 1,339 Bank branches per 100,000 adults .. 41.2 53.6 Firms with line of credit to total firms (all firms) (%) .. .. 52.9 Small firms with line of credit to total small firms (%) .. .. 51.8 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 77.7 Adults saving at a fin. inst. to total adults (%) .. .. 23.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 24.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.8 4.2 1.6 Lending-deposit spread (%) 20.2 17.6 8.2 Non-interest income to total income (%) 36.4 21.9 36.7 Overhead costs to total assets (%) 4.7 3.1 1.6 Return on average assets (%) 1.6 0.6 1.2 Return on average equity (%) 14.7 5.1 18.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 16.5 6.0 10.5 Stability—Financial Institutions Bank Z-score 24.6 21.7 21.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 53.2 84.2 118.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 45.6 39.2 12.8 Stability—Financial Markets Volatility of stock price index 57.9 140.6 26.5 Other Indicators—Financial Institutions Bank concentration (%) 90.3 65.3 100.0 Bank deposits to GDP (%) 12.4 29.1 55.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –0.07 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people 1.70 1.54 1.22 144 2013 The Little Data Book on Financial Development Europe & Central Asia Montenegro Upper middle income Gross domestic product ($ billions) 4.1 Gross national income ($ billions) 4.1 Population (thousands) 631 Inflation (%) 0.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 25.6 70.0 Deposit money bank assets to GDP (%) .. 29.0 74.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 52.1 93.4 Stock market total value traded to GDP (%) .. 7.3 4.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 50.4 Adults saving at a fin. inst. to total adults (%) .. .. 3.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 21.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.8 4.3 5.0 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. 50.2 33.0 Overhead costs to total assets (%) .. 6.1 4.0 Return on average assets (%) .. 0.1 –4.7 Return on average equity (%) .. 1.0 –39.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 21.1 1.0 Stability—Financial Institutions Bank Z-score 11.1 9.0 5.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 71.5 79.9 139.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 75.5 91.0 Bank deposits to GDP (%) .. 30.2 47.1 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. –0.19 –0.09 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. 0.30 0.46 The Little Data Book on Financial Development 2013 145 Morocco Middle East & North Africa Lower middle income Gross domestic product ($ billions) 90.8 Gross national income ($ billions) 88.6 Population (millions) 32.0 Inflation (%) 1.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 48.9 50.1 72.2 Deposit money bank assets to GDP (%) 63.7 64.0 86.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 31.9 43.9 71.8 Stock market total value traded to GDP (%) 4.7 4.9 21.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.2 0.9 1.5 Access—Financial Institutions Bank accounts per 1,000 adults .. 301 694 Bank branches per 100,000 adults .. 10.5 21.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 39.1 Adults saving at a fin. inst. to total adults (%) .. .. 12.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. 74.1 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. 25.7 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 0.0 3.2 Lending-deposit spread (%) 8.2 8.0 .. Non-interest income to total income (%) 14.1 18.5 24.6 Overhead costs to total assets (%) 2.4 2.0 1.9 Return on average assets (%) 1.1 0.5 1.2 Return on average equity (%) 10.7 5.5 13.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 8.6 15.9 18.4 Stability—Financial Institutions Bank Z-score 41.0 29.8 34.5 Bank non-performing loans to gross loans (%) .. 15.7 4.4 Bank capital to total assets (%) .. 7.7 8.4 Bank credit to bank deposits (%) 85.9 73.4 93.6 Regulatory capital to risk-weighted assets (%) .. 11.5 12.3 Liquid assets to deposits and short term funding (%) 16.5 28.9 28.2 Stability—Financial Markets Volatility of stock price index 11.4 13.7 19.2 Other Indicators—Financial Institutions Bank concentration (%) 46.6 58.6 73.0 Bank deposits to GDP (%) 56.4 68.0 81.6 H-statistic .. .. .. Lerner index 0.58 0.66 0.69 Boone indicator –0.07 –0.02 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.02 0.02 146 2013 The Little Data Book on Financial Development Sub-Saharan Africa Mozambique Low income Gross domestic product ($ billions) 9.2 Gross national income ($ billions) 9.1 Population (millions) 23.4 Inflation (%) 13.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 15.4 9.6 23.3 Deposit money bank assets to GDP (%) 17.0 17.7 32.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 2.0 3.4 Firms with line of credit to total firms (all firms) (%) .. 14.8 .. Small firms with line of credit to total small firms (%) .. 6.6 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 39.9 Adults saving at a fin. inst. to total adults (%) .. .. 17.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 5.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.5 6.1 5.2 Lending-deposit spread (%) 9.3 11.7 6.6 Non-interest income to total income (%) 63.9 48.0 39.8 Overhead costs to total assets (%) 8.7 6.9 6.3 Return on average assets (%) –10.4 1.6 2.5 Return on average equity (%) 118.0 23.7 21.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 1.4 5.8 23.3 Bank non-performing loans to gross loans (%) .. 3.5 1.9 Bank capital to total assets (%) .. 6.6 8.0 Bank credit to bank deposits (%) 71.7 50.0 43.5 Regulatory capital to risk-weighted assets (%) .. 13.4 14.4 Liquid assets to deposits and short term funding (%) 55.8 70.4 32.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 82.5 96.3 82.0 Bank deposits to GDP (%) 20.3 20.8 29.4 H-statistic .. .. .. Lerner index 0.26 0.23 0.34 Boone indicator –0.16 –0.09 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 147 Myanmar East Asia & Pacific Low income Gross domestic product ($ millions) .. Gross national income ($ millions) .. Population (millions) 48.0 Inflation (%) 7.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.2 4.0 3.8 Deposit money bank assets to GDP (%) 10.6 4.1 3.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.9 –0.1 –3.6 Lending-deposit spread (%) 5.5 5.5 5.0 Non-interest income to total income (%) 20.6 108.3 745.7 Overhead costs to total assets (%) 1.1 0.1 0.5 Return on average assets (%) 1.2 0.0 0.0 Return on average equity (%) 34.6 12.5 3.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 40.0 0.8 2.5 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 53.0 63.1 37.3 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 25.0 6.0 90.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Bank deposits to GDP (%) 14.7 6.5 10.0 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.01 –0.01 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 148 2013 The Little Data Book on Financial Development Sub-Saharan Africa Namibia Upper middle income Gross domestic product ($ billions) 11.1 Gross national income ($ billions) 10.7 Population (millions) 2.3 Inflation (%) 4.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 39.1 47.4 43.7 Deposit money bank assets to GDP (%) 43.2 53.3 47.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 6.0 9.5 Stock market total value traded to GDP (%) .. 0.2 0.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 624 Bank branches per 100,000 adults .. 7.3 7.6 Firms with line of credit to total firms (all firms) (%) .. 24.0 .. Small firms with line of credit to total small firms (%) .. 23.6 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 8.6 5.2 4.6 Lending-deposit spread (%) 7.9 4.4 4.7 Non-interest income to total income (%) .. 34.8 40.5 Overhead costs to total assets (%) .. 4.2 4.5 Return on average assets (%) 6.5 2.7 2.1 Return on average equity (%) 8.7 15.2 15.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 1.5 2.5 Stability—Financial Institutions Bank Z-score 17.6 37.0 40.8 Bank non-performing loans to gross loans (%) .. 2.3 2.0 Bank capital to total assets (%) .. 7.8 8.4 Bank credit to bank deposits (%) 104.1 143.3 136.8 Regulatory capital to risk-weighted assets (%) .. 14.6 15.3 Liquid assets to deposits and short term funding (%) 59.5 9.2 18.6 Stability—Financial Markets Volatility of stock price index .. 20.4 43.6 Other Indicators—Financial Institutions Bank concentration (%) 100.0 88.7 97.3 Bank deposits to GDP (%) 32.7 34.5 35.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.08 0.00 0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.07 0.06 0.03 The Little Data Book on Financial Development 2013 149 Nepal South Asia Low income Gross domestic product ($ billions) 16.0 Gross national income ($ billions) 16.1 Population (millions) 30.0 Inflation (%) 10.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 27.7 26.6 52.1 Deposit money bank assets to GDP (%) 31.9 36.1 59.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 10.5 13.6 33.1 Stock market total value traded to GDP (%) 0.5 0.7 1.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 39.1 Small firms with line of credit to total small firms (%) .. .. 36.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 25.3 Adults saving at a fin. inst. to total adults (%) .. .. 9.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.6 4.4 3.8 Lending-deposit spread (%) 3.5 5.9 4.4 Non-interest income to total income (%) 32.9 22.5 23.8 Overhead costs to total assets (%) 1.8 2.3 2.3 Return on average assets (%) 1.8 2.2 1.9 Return on average equity (%) 28.9 –32.9 36.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 4.5 4.3 2.9 Stability—Financial Institutions Bank Z-score 22.0 11.5 17.3 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 78.2 68.3 80.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 46.1 28.3 23.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 63.9 53.3 27.1 Bank deposits to GDP (%) 35.2 40.1 82.6 H-statistic .. .. 0.9 Lerner index 0.29 0.35 0.29 Boone indicator –0.07 –0.05 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.05 0.06 150 2013 The Little Data Book on Financial Development Netherlands High income Gross domestic product ($ billions) 774.2 Gross national income ($ billions) 767.7 Population (millions) 16.6 Inflation (%) 1.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 125.5 159.3 205.4 Deposit money bank assets to GDP (%) 140.1 171.0 217.7 Non-bank financial institutions’ assets to GDP (%) 95.2 .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 161.9 89.4 76.3 Stock market total value traded to GDP (%) 141.9 125.1 75.7 Outstanding domestic private debt securities to GDP (%) 43.3 64.9 76.7 Outstanding domestic public debt securities to GDP (%) 41.9 43.7 48.4 Outstanding international debt securities to GDP (%) 64.2 110.0 165.7 Access—Financial Institutions Bank accounts per 1,000 adults .. 1,769 1,769 Bank branches per 100,000 adults .. 28.1 23.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 98.7 Adults saving at a fin. inst. to total adults (%) .. .. 57.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 53.9 63.7 64.8 Efficiency—Financial Institutions Net interest margin (%) 2.6 1.5 0.9 Lending-deposit spread (%) 1.9 0.4 0.2 Non-interest income to total income (%) 17.7 17.1 45.3 Overhead costs to total assets (%) 0.6 0.6 0.8 Return on average assets (%) 1.3 0.8 0.2 Return on average equity (%) 14.1 16.0 5.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 96.1 146.4 108.2 Stability—Financial Institutions Bank Z-score 29.4 18.4 17.1 Bank non-performing loans to gross loans (%) .. .. 2.8 Bank capital to total assets (%) .. 3.1 4.4 Bank credit to bank deposits (%) 139.3 140.8 142.8 Regulatory capital to risk-weighted assets (%) .. 12.6 13.9 Liquid assets to deposits and short term funding (%) 31.6 25.1 36.3 Stability—Financial Markets Volatility of stock price index 19.0 13.2 30.8 Other Indicators—Financial Institutions Bank concentration (%) 84.8 83.1 71.1 Bank deposits to GDP (%) 91.7 110.6 139.8 H-statistic .. .. 0.7 Lerner index 0.20 0.20 0.21 Boone indicator –0.06 –0.04 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.15 0.15 0.07 The Little Data Book on Financial Development 2013 151 New Caledonia High income Gross domestic product ($ billions) .. Gross national income ($ billions) .. Population (thousands) 247 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 152 2013 The Little Data Book on Financial Development New Zealand High income Gross domestic product ($ billions) 142.5 Gross national income ($ billions) 137.9 Population (millions) 4.4 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 107.0 114.8 145.1 Deposit money bank assets to GDP (%) 113.0 119.0 152.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 41.5 39.6 40.5 Stock market total value traded to GDP (%) 19.7 14.9 13.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 27.5 22.0 26.7 Outstanding international debt securities to GDP (%) 14.9 8.7 8.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 35.1 34.7 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 99.4 Adults saving at a fin. inst. to total adults (%) .. .. 60.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 26.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 82.8 76.4 91.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 38.2 40.1 44.8 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.9 1.4 1.6 Lending-deposit spread (%) 1.5 1.1 1.7 Non-interest income to total income (%) 42.8 33.3 23.5 Overhead costs to total assets (%) 1.6 1.3 1.1 Return on average assets (%) 0.9 0.8 0.6 Return on average equity (%) 29.2 38.9 9.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 44.6 38.9 35.7 Stability—Financial Institutions Bank Z-score 14.7 12.6 19.7 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 139.5 157.3 156.9 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 3.4 46.3 23.9 Stability—Financial Markets Volatility of stock price index 25.7 15.7 27.6 Other Indicators—Financial Institutions Bank concentration (%) 100.0 96.1 75.1 Bank deposits to GDP (%) 78.3 74.8 91.0 H-statistic .. .. .. Lerner index 0.29 0.21 0.22 Boone indicator –0.55 –0.04 0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.37 0.37 0.33 The Little Data Book on Financial Development 2013 153 Nicaragua Latin America & Caribbean Lower middle income Gross domestic product ($ billions) 6.6 Gross national income ($ billions) 6.3 Population (millions) 5.8 Inflation (%) 5.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 28.7 25.9 31.6 Deposit money bank assets to GDP (%) 31.7 32.8 35.8 Non-bank financial institutions’ assets to GDP (%) 1.9 .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 40.7 43.4 Small firms with line of credit to total small firms (%) .. 39.9 32.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 14.2 Adults saving at a fin. inst. to total adults (%) .. .. 6.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) –2.5 3.2 4.3 Lending-deposit spread (%) 7.3 8.1 10.3 Non-interest income to total income (%) 22.8 28.7 29.4 Overhead costs to total assets (%) 4.4 4.7 4.5 Return on average assets (%) 1.3 2.4 1.4 Return on average equity (%) 16.4 28.6 14.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 10.3 17.0 16.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 88.6 80.7 145.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 18.2 22.6 35.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 59.5 84.0 84.6 Bank deposits to GDP (%) 33.5 35.3 32.5 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –2.45 –1.59 –1.64 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 154 2013 The Little Data Book on Financial Development Sub-Saharan Africa NigerLow income Gross domestic product ($ billions) 5.4 Gross national income ($ billions) 5.4 Population (millions) 15.5 Inflation (%) 0.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 4.3 6.4 11.8 Deposit money bank assets to GDP (%) 5.4 7.0 12.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 29.7 Small firms with line of credit to total small firms (%) .. .. 17.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 1.5 Adults saving at a fin. inst. to total adults (%) .. .. 1.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.1 4.1 4.8 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 82.2 64.6 41.9 Overhead costs to total assets (%) 7.1 7.2 3.4 Return on average assets (%) 0.2 1.0 1.8 Return on average equity (%) 2.2 10.7 18.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 19.5 25.1 34.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 87.2 87.9 102.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 27.3 33.8 28.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 80.6 100.0 Bank deposits to GDP (%) 5.0 7.8 11.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.08 –0.05 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 155 Nigeria Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) 196.8 Gross national income ($ billions) 178.1 Population (millions) 158.4 Inflation (%) 13.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.1 12.3 30.3 Deposit money bank assets to GDP (%) 16.5 17.0 40.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 7.5 15.8 21.0 Stock market total value traded to GDP (%) 0.4 1.7 2.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 4.3 1.4 .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 3.8 .. Small firms with line of credit to total small firms (%) .. 2.9 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 29.7 Adults saving at a fin. inst. to total adults (%) .. .. 23.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 2.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.8 3.4 4.0 Lending-deposit spread (%) 9.6 7.4 11.1 Non-interest income to total income (%) 44.4 41.3 43.2 Overhead costs to total assets (%) 7.4 6.3 7.0 Return on average assets (%) 2.8 2.2 3.5 Return on average equity (%) 30.6 13.6 143.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 3.7 10.9 20.6 Stability—Financial Institutions Bank Z-score 8.5 7.5 15.3 Bank non-performing loans to gross loans (%) .. 9.3 17.2 Bank capital to total assets (%) .. 16.0 3.2 Bank credit to bank deposits (%) 78.0 95.5 210.3 Regulatory capital to risk-weighted assets (%) .. 23.4 7.0 Liquid assets to deposits and short term funding (%) 84.9 83.4 32.8 Stability—Financial Markets Volatility of stock price index 30.5 15.5 29.0 Other Indicators—Financial Institutions Bank concentration (%) 31.2 37.1 35.6 Bank deposits to GDP (%) 13.5 13.2 26.0 H-statistic .. .. 0.6 Lerner index 0.30 0.29 0.24 Boone indicator –0.10 –0.08 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.02 0.01 156 2013 The Little Data Book on Financial Development Norway High income Gross domestic product ($ billions) 417.8 Gross national income ($ billions) 422.8 Population (millions) 4.9 Inflation (%) 2.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 61.6 74.9 .. Deposit money bank assets to GDP (%) 66.3 77.4 .. Non-bank financial institutions’ assets to GDP (%) 12.3 9.7 .. Depth—Financial Markets Stock market capitalization to GDP (%) 36.2 55.8 58.4 Stock market total value traded to GDP (%) 32.2 55.4 57.0 Outstanding domestic private debt securities to GDP (%) 20.2 22.9 35.9 Outstanding domestic public debt securities to GDP (%) 13.3 12.6 23.9 Outstanding international debt securities to GDP (%) 19.2 .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 422 529 Bank branches per 100,000 adults .. 6.9 7.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 51.3 69.4 83.5 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 38.1 30.5 37.2 Corporate bonds to total bonds and notes outstanding (%) 58.0 68.3 74.7 Efficiency—Financial Institutions Net interest margin (%) 2.2 2.0 1.2 Lending-deposit spread (%) 2.2 2.2 2.0 Non-interest income to total income (%) 37.8 35.4 36.2 Overhead costs to total assets (%) 2.0 1.4 1.0 Return on average assets (%) 0.9 1.0 0.8 Return on average equity (%) 13.7 15.7 14.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 90.5 114.9 99.6 Stability—Financial Institutions Bank Z-score 21.0 18.6 25.3 Bank non-performing loans to gross loans (%) .. 0.7 1.5 Bank capital to total assets (%) .. 7.4 6.4 Bank credit to bank deposits (%) 142.6 157.8 .. Regulatory capital to risk-weighted assets (%) .. 11.9 14.2 Liquid assets to deposits and short term funding (%) 17.0 11.8 20.3 Stability—Financial Markets Volatility of stock price index 20.5 17.7 44.3 Other Indicators—Financial Institutions Bank concentration (%) 85.4 68.8 60.6 Bank deposits to GDP (%) 44.0 48.6 .. H-statistic .. .. 0.3 Lerner index 0.18 0.29 0.27 Boone indicator –0.09 –0.05 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.43 0.41 0.40 The Little Data Book on Financial Development 2013 157 Oman High income Gross domestic product ($ billions) 57.8 Gross national income ($ billions) 54.7 Population (millions) 2.8 Inflation (%) 3.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 38.9 29.0 46.5 Deposit money bank assets to GDP (%) 44.4 32.8 50.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 16.4 34.7 34.0 Stock market total value traded to GDP (%) 2.4 8.0 15.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 1,012 Bank branches per 100,000 adults .. .. 22.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 73.6 Adults saving at a fin. inst. to total adults (%) .. .. 22.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.0 3.7 2.8 Lending-deposit spread (%) 2.4 3.8 3.5 Non-interest income to total income (%) 21.2 23.9 24.6 Overhead costs to total assets (%) 2.3 2.3 1.9 Return on average assets (%) 1.4 2.6 1.6 Return on average equity (%) 11.5 16.6 12.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 15.7 30.0 46.5 Stability—Financial Institutions Bank Z-score 21.1 24.8 23.4 Bank non-performing loans to gross loans (%) .. 7.0 3.3 Bank capital to total assets (%) .. 14.6 13.5 Bank credit to bank deposits (%) 132.1 114.9 88.4 Regulatory capital to risk-weighted assets (%) .. 18.5 15.8 Liquid assets to deposits and short term funding (%) 24.8 33.7 24.8 Stability—Financial Markets Volatility of stock price index .. 12.2 20.4 Other Indicators—Financial Institutions Bank concentration (%) 69.8 65.8 53.5 Bank deposits to GDP (%) 31.2 24.3 41.2 H-statistic .. .. 0.4 Lerner index 0.23 0.41 0.42 Boone indicator –0.08 –0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.58 0.40 0.43 158 2013 The Little Data Book on Financial Development South Asia Pakistan Lower middle income Gross domestic product ($ billions) 176.9 Gross national income ($ billions) 183.6 Population (millions) 173.6 Inflation (%) 13.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 21.0 27.1 21.0 Deposit money bank assets to GDP (%) 30.2 37.2 36.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 8.7 33.9 19.8 Stock market total value traded to GDP (%) 35.0 97.0 10.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 34.4 29.8 28.8 Outstanding international debt securities to GDP (%) 1.5 0.5 0.9 Access—Financial Institutions Bank accounts per 1,000 adults .. 131 249 Bank branches per 100,000 adults .. 7.7 8.8 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 10.3 Adults saving at a fin. inst. to total adults (%) .. .. 1.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.4 4.4 7.0 Lending-deposit spread (%) .. 6.5 5.9 Non-interest income to total income (%) 38.5 23.7 22.3 Overhead costs to total assets (%) 3.3 2.2 2.7 Return on average assets (%) 0.2 1.8 1.0 Return on average equity (%) 5.4 21.0 10.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 398.2 379.3 66.8 Stability—Financial Institutions Bank Z-score 4.7 9.8 10.7 Bank non-performing loans to gross loans (%) .. 8.3 14.7 Bank capital to total assets (%) .. 7.9 9.8 Bank credit to bank deposits (%) 80.8 76.0 .. Regulatory capital to risk-weighted assets (%) .. 11.3 14.0 Liquid assets to deposits and short term funding (%) 21.8 17.9 15.7 Stability—Financial Markets Volatility of stock price index 35.3 26.5 28.1 Other Indicators—Financial Institutions Bank concentration (%) 64.1 43.2 40.2 Bank deposits to GDP (%) 26.5 35.1 35.7 H-statistic .. .. 0.3 Lerner index 0.13 0.34 0.09 Boone indicator –0.20 –0.14 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.04 0.04 The Little Data Book on Financial Development 2013 159 Palau East Asia & Pacific Upper middle income Gross domestic product ($ millions) 171.3 Gross national income ($ millions) 134.8 Population (thousands) 20 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 160 2013 The Little Data Book on Financial Development Latin America & Caribbean Panama Upper middle income Gross domestic product ($ billions) 26.8 Gross national income ($ billions) 24.9 Population (millions) 3.5 Inflation (%) 3.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 93.2 75.0 78.8 Deposit money bank assets to GDP (%) 94.5 78.5 82.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 28.2 27.5 35.9 Stock market total value traded to GDP (%) 0.9 0.4 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 42.2 45.7 38.0 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 55.6 20.7 Small firms with line of credit to total small firms (%) .. 43.1 18.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 24.9 Adults saving at a fin. inst. to total adults (%) .. .. 12.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.0 3.7 3.1 Lending-deposit spread (%) 3.4 6.0 4.7 Non-interest income to total income (%) 24.3 36.2 30.4 Overhead costs to total assets (%) 1.7 2.8 2.1 Return on average assets (%) 1.5 1.7 1.3 Return on average equity (%) 16.5 15.5 13.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 4.5 1.8 2.4 Stability—Financial Institutions Bank Z-score 18.5 23.4 22.3 Bank non-performing loans to gross loans (%) .. 1.8 1.1 Bank capital to total assets (%) .. 12.8 12.5 Bank credit to bank deposits (%) 124.4 108.2 102.7 Regulatory capital to risk-weighted assets (%) .. 16.8 16.3 Liquid assets to deposits and short term funding (%) 40.4 25.3 30.6 Stability—Financial Markets Volatility of stock price index 9.8 3.9 8.6 Other Indicators—Financial Institutions Bank concentration (%) 29.4 48.8 72.9 Bank deposits to GDP (%) 73.8 71.1 87.8 H-statistic .. .. 0.6 Lerner index 0.20 0.32 0.31 Boone indicator –0.02 –0.04 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.10 0.07 0.07 The Little Data Book on Financial Development 2013 161 Papua New Guinea East Asia & Pacific Lower middle income Gross domestic product ($ billions) 9.5 Gross national income ($ billions) 9.3 Population (millions) 6.9 Inflation (%) 6.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.9 12.4 24.9 Deposit money bank assets to GDP (%) 28.1 24.5 36.3 Non-bank financial institutions’ assets to GDP (%) .. .. 3.4 Depth—Financial Markets Stock market capitalization to GDP (%) 46.0 62.6 117.9 Stock market total value traded to GDP (%) 0.0 0.2 0.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 157 178 Bank branches per 100,000 adults .. 1.9 1.8 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.9 4.1 4.0 Lending-deposit spread (%) 9.1 10.6 9.1 Non-interest income to total income (%) .. 52.8 43.8 Overhead costs to total assets (%) .. 3.1 3.7 Return on average assets (%) 0.1 4.6 3.8 Return on average equity (%) 3.0 39.6 28.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 0.1 0.6 0.2 Stability—Financial Institutions Bank Z-score 3.6 35.3 39.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 59.1 46.0 53.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 12.6 50.4 50.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 .. Bank deposits to GDP (%) 28.5 26.3 61.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.08 –0.04 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 0.01 0.01 162 2013 The Little Data Book on Financial Development Latin America & Caribbean Paraguay Lower middle income Gross domestic product ($ billions) 18.3 Gross national income ($ billions) 18.0 Population (millions) 6.5 Inflation (%) 4.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 26.8 16.4 32.3 Deposit money bank assets to GDP (%) 28.5 17.6 34.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 4.7 3.4 .. Stock market total value traded to GDP (%) 0.2 0.0 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 46.0 60.2 Small firms with line of credit to total small firms (%) .. 39.8 54.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 21.7 Adults saving at a fin. inst. to total adults (%) .. .. 9.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 8.2 8.5 6.8 Lending-deposit spread (%) 11.1 28.2 24.8 Non-interest income to total income (%) 14.6 58.7 54.2 Overhead costs to total assets (%) 7.5 11.4 7.5 Return on average assets (%) 1.3 1.9 2.6 Return on average equity (%) 10.1 16.5 23.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.3 0.6 .. Stability—Financial Institutions Bank Z-score 9.2 10.5 20.8 Bank non-performing loans to gross loans (%) .. 6.5 1.3 Bank capital to total assets (%) .. 11.0 9.4 Bank credit to bank deposits (%) 122.4 91.6 116.3 Regulatory capital to risk-weighted assets (%) .. 20.4 16.4 Liquid assets to deposits and short term funding (%) 46.3 45.8 35.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 45.4 47.8 49.5 Bank deposits to GDP (%) 22.1 18.6 17.5 H-statistic .. .. 0.9 Lerner index 0.01 0.10 0.03 Boone indicator –0.12 –0.11 –0.22 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.10 0.09 0.10 The Little Data Book on Financial Development 2013 163 Peru Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 153.9 Gross national income ($ billions) 151.0 Population (millions) 29.1 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 26.1 17.8 22.7 Deposit money bank assets to GDP (%) 28.9 20.2 24.3 Non-bank financial institutions’ assets to GDP (%) 0.4 0.3 0.2 Depth—Financial Markets Stock market capitalization to GDP (%) 22.2 35.7 56.2 Stock market total value traded to GDP (%) 3.5 2.0 2.4 Outstanding domestic private debt securities to GDP (%) 3.7 4.0 3.8 Outstanding domestic public debt securities to GDP (%) 7.3 10.0 12.7 Outstanding international debt securities to GDP (%) 8.0 9.1 10.6 Access—Financial Institutions Bank accounts per 1,000 adults .. 237 436 Bank branches per 100,000 adults .. 4.7 49.5 Firms with line of credit to total firms (all firms) (%) .. 69.9 66.8 Small firms with line of credit to total small firms (%) .. 60.7 52.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 20.5 Adults saving at a fin. inst. to total adults (%) .. .. 8.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 47.3 60.0 68.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 44.3 37.8 35.7 Corporate bonds to total bonds and notes outstanding (%) 37.4 34.0 29.8 Efficiency—Financial Institutions Net interest margin (%) 4.5 4.0 4.3 Lending-deposit spread (%) 20.2 22.9 17.4 Non-interest income to total income (%) 41.9 36.1 34.3 Overhead costs to total assets (%) 5.3 4.3 3.7 Return on average assets (%) 0.3 2.0 2.2 Return on average equity (%) 3.4 21.0 21.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 11.7 7.1 5.3 Stability—Financial Institutions Bank Z-score 14.6 15.0 14.6 Bank non-performing loans to gross loans (%) .. 6.3 2.6 Bank capital to total assets (%) .. 9.2 9.5 Bank credit to bank deposits (%) 99.4 82.6 81.3 Regulatory capital to risk-weighted assets (%) .. 12.0 13.7 Liquid assets to deposits and short term funding (%) 27.7 30.4 38.3 Stability—Financial Markets Volatility of stock price index 23.2 23.0 39.2 Other Indicators—Financial Institutions Bank concentration (%) 61.9 76.5 74.2 Bank deposits to GDP (%) 26.0 21.3 27.3 H-statistic .. .. 0.6 Lerner index 0.16 0.38 0.38 Boone indicator –0.06 –0.09 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.09 0.07 0.07 164 2013 The Little Data Book on Financial Development East Asia & Pacific Philippines Lower middle income Gross domestic product ($ billions) 199.6 Gross national income ($ billions) 199.9 Population (millions) 93.3 Inflation (%) 3.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 34.9 25.2 27.7 Deposit money bank assets to GDP (%) 47.2 42.6 42.8 Non-bank financial institutions’ assets to GDP (%) 4.1 4.1 .. Depth—Financial Markets Stock market capitalization to GDP (%) 38.1 33.7 60.3 Stock market total value traded to GDP (%) 15.5 5.1 11.2 Outstanding domestic private debt securities to GDP (%) 0.2 0.7 1.0 Outstanding domestic public debt securities to GDP (%) 24.5 36.8 29.5 Outstanding international debt securities to GDP (%) 20.9 28.2 19.6 Access—Financial Institutions Bank accounts per 1,000 adults .. 370 488 Bank branches per 100,000 adults .. 7.8 7.7 Firms with line of credit to total firms (all firms) (%) .. .. 33.2 Small firms with line of credit to total small firms (%) .. .. 21.1 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 26.6 Adults saving at a fin. inst. to total adults (%) .. .. 14.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 52.7 57.2 45.7 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 37.3 39.2 57.1 Corporate bonds to total bonds and notes outstanding (%) 1.8 3.1 4.4 Efficiency—Financial Institutions Net interest margin (%) 1.2 2.9 2.1 Lending-deposit spread (%) 2.6 4.6 4.5 Non-interest income to total income (%) 30.6 35.5 35.7 Overhead costs to total assets (%) 3.1 3.1 2.8 Return on average assets (%) 0.2 1.0 1.3 Return on average equity (%) 1.1 9.7 12.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 20.5 20.0 28.5 Stability—Financial Institutions Bank Z-score 24.5 46.1 39.5 Bank non-performing loans to gross loans (%) .. 10.0 3.8 Bank capital to total assets (%) .. 11.8 11.7 Bank credit to bank deposits (%) 72.7 55.3 .. Regulatory capital to risk-weighted assets (%) .. 17.7 17.0 Liquid assets to deposits and short term funding (%) 20.6 25.7 28.7 Stability—Financial Markets Volatility of stock price index 25.7 19.4 25.3 Other Indicators—Financial Institutions Bank concentration (%) 100.0 38.6 44.5 Bank deposits to GDP (%) 47.2 43.7 45.3 H-statistic .. .. 0.7 Lerner index 0.01 0.22 0.31 Boone indicator 0.00 –0.08 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.03 0.03 The Little Data Book on Financial Development 2013 165 Poland High income Gross domestic product ($ billions) 469.8 Gross national income ($ billions) 452.9 Population (millions) 38.2 Inflation (%) 2.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 25.0 27.7 43.2 Deposit money bank assets to GDP (%) 33.6 39.3 36.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 17.2 28.7 35.2 Stock market total value traded to GDP (%) 7.3 8.0 14.4 Outstanding domestic private debt securities to GDP (%) 0.2 0.5 1.7 Outstanding domestic public debt securities to GDP (%) 20.7 36.1 40.2 Outstanding international debt securities to GDP (%) 5.4 10.1 12.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 37.8 45.8 Firms with line of credit to total firms (all firms) (%) .. .. 50.1 Small firms with line of credit to total small firms (%) .. .. 47.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 70.2 Adults saving at a fin. inst. to total adults (%) .. .. 18.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 9.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 42.1 67.9 68.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 33.5 34.9 46.5 Corporate bonds to total bonds and notes outstanding (%) 1.2 1.7 5.0 Efficiency—Financial Institutions Net interest margin (%) 6.5 2.9 2.6 Lending-deposit spread (%) 5.8 4.0 .. Non-interest income to total income (%) 39.4 39.9 38.6 Overhead costs to total assets (%) 4.1 3.3 2.5 Return on average assets (%) 1.2 1.6 1.1 Return on average equity (%) 12.1 15.5 10.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 43.4 34.4 54.0 Stability—Financial Institutions Bank Z-score 20.0 30.7 26.0 Bank non-performing loans to gross loans (%) .. 11.0 8.8 Bank capital to total assets (%) .. 7.9 9.1 Bank credit to bank deposits (%) 73.9 75.4 131.0 Regulatory capital to risk-weighted assets (%) .. 14.6 13.8 Liquid assets to deposits and short term funding (%) 30.7 40.3 14.1 Stability—Financial Markets Volatility of stock price index 34.7 22.0 45.4 Other Indicators—Financial Institutions Bank concentration (%) 63.0 62.4 51.1 Bank deposits to GDP (%) 34.0 36.2 41.6 H-statistic .. .. 0.8 Lerner index 0.15 0.19 0.25 Boone indicator –0.14 –0.11 –0.06 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.06 0.06 0.15 166 2013 The Little Data Book on Financial Development Portugal High income Gross domestic product ($ billions) 227.2 Gross national income ($ billions) 219.8 Population (millions) 10.6 Inflation (%) 1.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 113.4 135.8 186.6 Deposit money bank assets to GDP (%) 120.0 141.5 201.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 50.2 35.7 38.7 Stock market total value traded to GDP (%) 38.0 20.6 16.5 Outstanding domestic private debt securities to GDP (%) 20.8 26.7 59.6 Outstanding domestic public debt securities to GDP (%) 27.4 34.2 45.6 Outstanding international debt securities to GDP (%) 23.1 64.2 121.0 Access—Financial Institutions Bank accounts per 1,000 adults .. 2,440 2,806 Bank branches per 100,000 adults .. 69.4 75.9 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 81.2 Adults saving at a fin. inst. to total adults (%) .. .. 25.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 39.8 37.7 58.8 Efficiency—Financial Institutions Net interest margin (%) 1.8 1.6 1.2 Lending-deposit spread (%) 2.8 .. .. Non-interest income to total income (%) 27.5 32.9 37.5 Overhead costs to total assets (%) 1.6 1.6 1.4 Return on average assets (%) 0.4 0.4 0.2 Return on average equity (%) 8.7 8.0 4.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 79.0 60.8 38.7 Stability—Financial Institutions Bank Z-score 43.5 29.0 34.2 Bank non-performing loans to gross loans (%) .. 1.5 3.3 Bank capital to total assets (%) .. 6.2 6.4 Bank credit to bank deposits (%) 136.7 144.1 145.5 Regulatory capital to risk-weighted assets (%) .. 12.5 10.8 Liquid assets to deposits and short term funding (%) 35.6 42.6 25.4 Stability—Financial Markets Volatility of stock price index 19.5 13.2 29.0 Other Indicators—Financial Institutions Bank concentration (%) 52.0 76.4 77.9 Bank deposits to GDP (%) 89.7 92.6 126.2 H-statistic .. .. 0.9 Lerner index 0.23 0.25 0.25 Boone indicator –0.05 –0.04 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.11 0.05 0.04 The Little Data Book on Financial Development 2013 167 Qatar High income Gross domestic product ($ billions) 127.3 Gross national income ($ billions) 125.7 Population (millions) 1.8 Inflation (%) –2.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 27.0 .. Deposit money bank assets to GDP (%) .. 55.5 .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. 0.0 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 16.4 .. Access—Financial Institutions Bank accounts per 1,000 adults .. 672 770 Bank branches per 100,000 adults .. 18.9 23.4 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 65.9 Adults saving at a fin. inst. to total adults (%) .. .. 25.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.7 3.2 3.1 Lending-deposit spread (%) .. 3.5 4.4 Non-interest income to total income (%) 25.5 46.8 29.4 Overhead costs to total assets (%) 1.2 1.3 1.0 Return on average assets (%) 1.3 3.4 2.4 Return on average equity (%) 9.9 17.6 17.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 36.3 45.0 33.3 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 64.0 71.9 141.9 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 53.0 30.4 29.9 Stability—Financial Markets Volatility of stock price index 67.0 25.3 26.9 Other Indicators—Financial Institutions Bank concentration (%) 80.0 76.1 70.8 Bank deposits to GDP (%) .. 50.2 .. H-statistic .. .. 0.7 Lerner index 0.30 0.55 0.49 Boone indicator 0.03 –0.04 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.37 0.38 0.24 168 2013 The Little Data Book on Financial Development Europe & Central Asia Romania Upper middle income Gross domestic product ($ billions) 161.6 Gross national income ($ billions) 159.0 Population (millions) 21.4 Inflation (%) 6.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 6.4 16.6 39.4 Deposit money bank assets to GDP (%) 11.7 18.5 49.9 Non-bank financial institutions’ assets to GDP (%) .. .. 0.3 Depth—Financial Markets Stock market capitalization to GDP (%) 2.3 17.0 19.1 Stock market total value traded to GDP (%) 0.6 2.2 1.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.8 3.9 2.4 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. 33.2 Firms with line of credit to total firms (all firms) (%) .. .. 42.3 Small firms with line of credit to total small firms (%) .. .. 34.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 44.6 Adults saving at a fin. inst. to total adults (%) .. .. 8.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 6.9 2.1 2.7 Lending-deposit spread (%) 20.7 13.2 6.8 Non-interest income to total income (%) 35.9 39.8 29.3 Overhead costs to total assets (%) 6.8 4.0 2.8 Return on average assets (%) 2.5 1.7 0.6 Return on average equity (%) 14.7 15.6 5.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 12.2 20.2 7.4 Stability—Financial Institutions Bank Z-score 18.5 12.1 11.1 Bank non-performing loans to gross loans (%) .. 1.4 11.9 Bank capital to total assets (%) .. 12.7 8.9 Bank credit to bank deposits (%) 36.2 80.4 168.6 Regulatory capital to risk-weighted assets (%) .. 21.1 14.7 Liquid assets to deposits and short term funding (%) 63.4 45.7 25.1 Stability—Financial Markets Volatility of stock price index 40.0 32.3 44.9 Other Indicators—Financial Institutions Bank concentration (%) 59.1 61.8 59.0 Bank deposits to GDP (%) 17.4 21.8 32.0 H-statistic .. .. 0.9 Lerner index 0.18 0.18 0.24 Boone indicator –0.21 –0.09 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 2.48 1.73 0.65 The Little Data Book on Financial Development 2013 169 Russian Federation Europe & Central Asia Upper middle income Gross domestic product ($ billions) 1,487.5 Gross national income ($ billions) 1,431.1 Population (millions) 141.9 Inflation (%) 6.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 10.9 22.7 41.8 Deposit money bank assets to GDP (%) 18.5 26.9 46.1 Non-bank financial institutions’ assets to GDP (%) .. 0.9 0.2 Depth—Financial Markets Stock market capitalization to GDP (%) 20.3 54.0 64.4 Stock market total value traded to GDP (%) 4.1 19.5 51.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 3.1 3.1 4.0 Outstanding international debt securities to GDP (%) 10.4 8.4 10.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. 5.6 Firms with line of credit to total firms (all firms) (%) .. .. 31.2 Small firms with line of credit to total small firms (%) .. .. 17.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 48.2 Adults saving at a fin. inst. to total adults (%) .. .. 10.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 7.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. 95.5 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. 39.6 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.4 3.2 4.1 Lending-deposit spread (%) 17.9 6.7 4.8 Non-interest income to total income (%) 76.8 51.3 95.7 Overhead costs to total assets (%) 6.4 4.9 6.1 Return on average assets (%) 8.0 2.0 0.4 Return on average equity (%) 54.1 14.3 3.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 19.3 38.6 135.8 Stability—Financial Institutions Bank Z-score 9.4 22.3 19.5 Bank non-performing loans to gross loans (%) .. 2.6 8.2 Bank capital to total assets (%) .. 12.8 14.0 Bank credit to bank deposits (%) 85.5 107.6 132.5 Regulatory capital to risk-weighted assets (%) .. 16.0 18.1 Liquid assets to deposits and short term funding (%) 39.7 41.0 52.0 Stability—Financial Markets Volatility of stock price index 61.5 30.2 47.7 Other Indicators—Financial Institutions Bank concentration (%) 41.0 49.0 43.4 Bank deposits to GDP (%) 12.5 20.9 35.6 H-statistic .. .. 0.7 Lerner index 0.23 0.23 0.05 Boone indicator –0.09 –0.06 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.02 0.02 0.02 170 2013 The Little Data Book on Financial Development Sub-Saharan Africa Rwanda Low income Gross domestic product ($ billions) 5.6 Gross national income ($ billions) 5.6 Population (millions) 10.6 Inflation (%) 2.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 9.5 10.2 .. Deposit money bank assets to GDP (%) 10.6 11.7 .. Non-bank financial institutions’ assets to GDP (%) 0.9 0.8 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 9 218 Bank branches per 100,000 adults .. 1.0 2.2 Firms with line of credit to total firms (all firms) (%) .. 37.6 .. Small firms with line of credit to total small firms (%) .. 22.0 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 32.8 Adults saving at a fin. inst. to total adults (%) .. .. 17.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.5 3.8 4.0 Lending-deposit spread (%) 6.9 8.1 9.6 Non-interest income to total income (%) .. 46.5 37.3 Overhead costs to total assets (%) 6.2 7.9 7.8 Return on average assets (%) 6.0 0.9 1.9 Return on average equity (%) 84.3 11.3 12.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 5.7 4.6 9.7 Bank non-performing loans to gross loans (%) .. 29.0 10.8 Bank capital to total assets (%) .. 9.4 11.4 Bank credit to bank deposits (%) 78.6 77.2 .. Regulatory capital to risk-weighted assets (%) .. 14.0 22.3 Liquid assets to deposits and short term funding (%) 46.9 52.6 44.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 87.0 74.8 Bank deposits to GDP (%) 12.1 13.5 .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.07 –0.06 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 171 Samoa East Asia & Pacific Lower middle income Gross domestic product ($ millions) 594.9 Gross national income ($ millions) 578.2 Population (thousands) 183 Inflation (%) 0.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 28.6 35.2 43.3 Deposit money bank assets to GDP (%) 31.6 37.0 50.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 51.3 Small firms with line of credit to total small firms (%) .. .. 45.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 5.6 6.1 Lending-deposit spread (%) 6.9 7.1 8.0 Non-interest income to total income (%) .. 53.4 .. Overhead costs to total assets (%) .. 4.3 .. Return on average assets (%) 3.3 3.3 3.6 Return on average equity (%) 22.3 19.3 17.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 34.8 37.5 47.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 88.6 100.8 95.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 40.6 27.9 34.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 .. Bank deposits to GDP (%) 32.5 36.1 43.7 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.03 –0.02 –0.10 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 172 2013 The Little Data Book on Financial Development San Marino High income Gross domestic product ($ billions) 1.9 Gross national income ($ billions) 1.7 Population (thousands) 32 Inflation (%) 2.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 249.9 361.7 Deposit money bank assets to GDP (%) .. 249.9 361.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.2 2.0 1.5 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. 28.6 23.7 Overhead costs to total assets (%) .. 0.9 3.2 Return on average assets (%) 1.4 0.8 –1.9 Return on average equity (%) 22.9 10.3 –18.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 25.9 20.4 28.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 95.9 .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 86.2 77.7 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –0.15 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 173 São Tomé and Principe Sub-Saharan Africa Lower middle income Gross domestic product ($ millions) 201.0 Gross national income ($ millions) 203.4 Population (thousands) 165 Inflation (%) 13.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 4.1 20.2 33.2 Deposit money bank assets to GDP (%) 4.1 20.2 34.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 6.7 8.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 18.7 19.0 17.8 Non-interest income to total income (%) 55.3 .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) –1.1 –7.4 .. Return on average equity (%) –3.9 –24.3 .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 30.5 86.7 169.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 114.7 73.7 .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 14.9 25.3 30.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.07 –0.07 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 174 2013 The Little Data Book on Financial Development Saudi Arabia High income Gross domestic product ($ billions) 450.8 Gross national income ($ billions) 457.8 Population (millions) 27.4 Inflation (%) 5.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 23.6 31.6 46.4 Deposit money bank assets to GDP (%) 40.6 45.7 58.6 Non-bank financial institutions’ assets to GDP (%) 28.1 16.9 17.7 Depth—Financial Markets Stock market capitalization to GDP (%) 33.8 150.0 75.6 Stock market total value traded to GDP (%) 8.5 248.2 61.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 480 780 Bank branches per 100,000 adults .. 8.2 9.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 46.4 Adults saving at a fin. inst. to total adults (%) .. .. 17.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 2.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. 47.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. 38.2 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.7 3.6 2.9 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 18.6 38.9 31.1 Overhead costs to total assets (%) 1.6 1.5 1.4 Return on average assets (%) 1.8 3.4 1.7 Return on average equity (%) 18.3 27.3 12.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 27.0 233.1 77.1 Stability—Financial Institutions Bank Z-score 15.0 17.5 18.1 Bank non-performing loans to gross loans (%) .. 1.9 3.0 Bank capital to total assets (%) .. 8.8 12.6 Bank credit to bank deposits (%) 150.0 197.9 146.3 Regulatory capital to risk-weighted assets (%) .. 17.8 17.1 Liquid assets to deposits and short term funding (%) 65.8 12.4 17.1 Stability—Financial Markets Volatility of stock price index 11.3 21.9 23.5 Other Indicators—Financial Institutions Bank concentration (%) 51.6 46.1 51.6 Bank deposits to GDP (%) 15.3 17.9 29.6 H-statistic .. .. 0.8 Lerner index 0.27 0.53 0.56 Boone indicator –0.03 –0.04 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.04 0.03 0.05 The Little Data Book on Financial Development 2013 175 Senegal Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) 12.9 Gross national income ($ billions) 12.7 Population (millions) 12.4 Inflation (%) 1.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 16.5 20.9 24.5 Deposit money bank assets to GDP (%) 19.6 22.5 28.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 1.5 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 15.3 .. Small firms with line of credit to total small firms (%) .. 10.8 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 5.8 Adults saving at a fin. inst. to total adults (%) .. .. 3.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 6.3 3.3 5.5 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 33.7 30.9 28.2 Overhead costs to total assets (%) 4.3 4.4 4.2 Return on average assets (%) 1.7 1.8 1.4 Return on average equity (%) 19.4 20.8 13.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 24.3 24.8 18.4 Bank non-performing loans to gross loans (%) .. 11.9 20.2 Bank capital to total assets (%) .. 7.6 10.0 Bank credit to bank deposits (%) 101.1 90.9 83.2 Regulatory capital to risk-weighted assets (%) .. 11.1 18.2 Liquid assets to deposits and short term funding (%) 22.9 18.9 24.4 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 67.4 62.1 77.6 Bank deposits to GDP (%) 17.1 24.6 28.9 H-statistic .. .. 0.4 Lerner index 0.37 0.35 0.37 Boone indicator –0.07 –0.07 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 176 2013 The Little Data Book on Financial Development Europe & Central Asia Serbia Upper middle income Gross domestic product ($ billions) 38.4 Gross national income ($ billions) 37.5 Population (millions) 7.3 Inflation (%) 6.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 26.7 23.8 45.9 Deposit money bank assets to GDP (%) 33.5 26.3 53.3 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 16.2 25.7 Stock market total value traded to GDP (%) 0.1 2.1 1.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 6.0 10.2 Firms with line of credit to total firms (all firms) (%) .. .. 67.6 Small firms with line of credit to total small firms (%) .. .. 60.4 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 62.2 Adults saving at a fin. inst. to total adults (%) .. .. 3.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.3 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.6 3.9 3.9 Lending-deposit spread (%) 30.4 13.1 6.0 Non-interest income to total income (%) 76.2 67.6 80.5 Overhead costs to total assets (%) 8.6 9.1 18.6 Return on average assets (%) 3.3 0.5 0.8 Return on average equity (%) 18.0 2.8 4.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 16.3 3.7 Stability—Financial Institutions Bank Z-score 6.4 7.4 9.1 Bank non-performing loans to gross loans (%) .. .. 16.9 Bank capital to total assets (%) .. 16.2 19.7 Bank credit to bank deposits (%) 349.3 122.3 89.0 Regulatory capital to risk-weighted assets (%) .. 26.0 19.9 Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. 15.1 26.1 Other Indicators—Financial Institutions Bank concentration (%) 68.7 43.1 31.3 Bank deposits to GDP (%) 7.9 19.9 45.7 H-statistic .. .. 0.6 Lerner index 0.38 0.32 0.06 Boone indicator –0.06 –0.08 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 1.16 2.15 The Little Data Book on Financial Development 2013 177 Seychelles Sub-Saharan Africa Upper middle income Gross domestic product ($ millions) 963.0 Gross national income ($ millions) 896.1 Population (thousands) 87 Inflation (%) –2.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 15.2 25.2 22.9 Deposit money bank assets to GDP (%) 90.7 82.6 42.0 Non-bank financial institutions’ assets to GDP (%) 6.2 6.2 0.0 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 18.7 24.5 Access—Financial Institutions Bank accounts per 1,000 adults .. 221 1,567 Bank branches per 100,000 adults .. 30.2 35.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 3.3 4.3 Lending-deposit spread (%) 6.0 6.0 9.8 Non-interest income to total income (%) .. .. 42.2 Overhead costs to total assets (%) .. 1.6 2.4 Return on average assets (%) .. 1.6 2.3 Return on average equity (%) .. 29.2 23.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 11.0 22.9 Bank non-performing loans to gross loans (%) .. 4.4 5.5 Bank capital to total assets (%) .. 6.6 9.2 Bank credit to bank deposits (%) 19.6 30.8 79.6 Regulatory capital to risk-weighted assets (%) .. 19.6 21.5 Liquid assets to deposits and short term funding (%) .. 53.5 58.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 89.8 92.7 Bank deposits to GDP (%) 81.1 83.3 64.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. –0.02 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 178 2013 The Little Data Book on Financial Development Sub-Saharan Africa Sierra Leone Low income Gross domestic product ($ billions) 1.9 Gross national income ($ billions) 1.9 Population (millions) 5.9 Inflation (%) 16.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 1.9 4.0 9.2 Deposit money bank assets to GDP (%) 7.3 9.1 15.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 61 190 Bank branches per 100,000 adults .. 1.3 2.9 Firms with line of credit to total firms (all firms) (%) .. .. 17.4 Small firms with line of credit to total small firms (%) .. .. 14.4 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 15.3 Adults saving at a fin. inst. to total adults (%) .. .. 14.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 15.3 12.7 6.9 Lending-deposit spread (%) 17.0 13.5 12.3 Non-interest income to total income (%) 45.2 43.6 43.5 Overhead costs to total assets (%) 6.8 9.0 8.8 Return on average assets (%) 9.9 4.3 2.5 Return on average equity (%) 54.6 25.5 18.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 8.8 7.6 6.8 Bank non-performing loans to gross loans (%) .. 26.8 15.6 Bank capital to total assets (%) .. 10.3 17.5 Bank credit to bank deposits (%) 22.3 32.6 47.8 Regulatory capital to risk-weighted assets (%) .. 35.7 30.7 Liquid assets to deposits and short term funding (%) 51.0 45.6 56.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 88.4 86.2 84.2 Bank deposits to GDP (%) 8.5 11.2 19.2 H-statistic .. .. .. Lerner index 0.64 0.30 0.17 Boone indicator –0.20 –0.17 –0.25 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 179 Singapore High income Gross domestic product ($ billions) 213.2 Gross national income ($ billions) 209.4 Population (millions) 5.1 Inflation (%) 2.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 95.1 89.9 96.4 Deposit money bank assets to GDP (%) 115.0 111.1 123.9 Non-bank financial institutions’ assets to GDP (%) 9.7 3.5 2.7 Depth—Financial Markets Stock market capitalization to GDP (%) 182.2 243.2 165.0 Stock market total value traded to GDP (%) 98.2 82.2 129.8 Outstanding domestic private debt securities to GDP (%) 16.5 17.8 11.8 Outstanding domestic public debt securities to GDP (%) 24.0 37.3 45.3 Outstanding international debt securities to GDP (%) 21.2 31.4 28.5 Access—Financial Institutions Bank accounts per 1,000 adults .. 2,031 2,134 Bank branches per 100,000 adults .. 11.6 10.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 98.2 Adults saving at a fin. inst. to total adults (%) .. .. 58.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.0 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 18.1 39.2 59.3 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 41.9 60.8 71.9 Corporate bonds to total bonds and notes outstanding (%) 32.3 15.5 25.5 Efficiency—Financial Institutions Net interest margin (%) 2.2 1.7 1.6 Lending-deposit spread (%) 4.1 4.9 5.2 Non-interest income to total income (%) 21.4 32.0 40.6 Overhead costs to total assets (%) 0.9 0.8 0.9 Return on average assets (%) 1.1 1.0 1.2 Return on average equity (%) 10.4 8.7 10.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 50.7 39.9 91.1 Stability—Financial Institutions Bank Z-score 34.1 50.6 48.9 Bank non-performing loans to gross loans (%) .. 3.8 1.8 Bank capital to total assets (%) .. 9.6 9.6 Bank credit to bank deposits (%) 99.6 92.6 81.4 Regulatory capital to risk-weighted assets (%) .. 15.8 18.6 Liquid assets to deposits and short term funding (%) 31.9 37.7 36.6 Stability—Financial Markets Volatility of stock price index 25.8 12.8 25.9 Other Indicators—Financial Institutions Bank concentration (%) 86.8 90.8 88.2 Bank deposits to GDP (%) 99.3 95.2 121.0 H-statistic .. .. 0.7 Lerner index 0.37 0.47 0.51 Boone indicator 0.44 –0.09 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 1.04 1.61 0.91 180 2013 The Little Data Book on Financial Development Slovak Republic High income Gross domestic product ($ billions) 87.1 Gross national income ($ billions) 81.9 Population (millions) 5.4 Inflation (%) 1.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 51.2 31.3 47.1 Deposit money bank assets to GDP (%) 81.0 50.6 66.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 3.8 7.2 4.9 Stock market total value traded to GDP (%) 2.3 0.6 0.2 Outstanding domestic private debt securities to GDP (%) .. 2.1 5.4 Outstanding domestic public debt securities to GDP (%) 9.6 22.7 26.2 Outstanding international debt securities to GDP (%) 8.9 5.9 11.5 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. 26.5 Firms with line of credit to total firms (all firms) (%) .. .. 42.4 Small firms with line of credit to total small firms (%) .. .. 35.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 79.6 Adults saving at a fin. inst. to total adults (%) .. .. 36.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. 12.0 17.5 Efficiency—Financial Institutions Net interest margin (%) 3.0 1.5 2.5 Lending-deposit spread (%) 6.4 4.2 2.0 Non-interest income to total income (%) 51.3 39.6 25.4 Overhead costs to total assets (%) 4.5 2.5 2.2 Return on average assets (%) 1.4 0.9 0.9 Return on average equity (%) 17.6 14.5 10.4 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 62.0 1.6 4.6 Stability—Financial Institutions Bank Z-score 8.7 11.9 10.8 Bank non-performing loans to gross loans (%) .. 5.0 5.8 Bank capital to total assets (%) .. 7.4 9.7 Bank credit to bank deposits (%) 89.7 71.4 87.2 Regulatory capital to risk-weighted assets (%) .. 14.8 12.7 Liquid assets to deposits and short term funding (%) 46.6 30.5 13.6 Stability—Financial Markets Volatility of stock price index 30.9 23.5 30.2 Other Indicators—Financial Institutions Bank concentration (%) 79.4 68.9 66.4 Bank deposits to GDP (%) 54.3 49.0 53.8 H-statistic .. .. 0.6 Lerner index 0.15 0.14 0.27 Boone indicator 0.24 0.05 0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.91 0.39 0.17 The Little Data Book on Financial Development 2013 181 Slovenia High income Gross domestic product ($ billions) 46.9 Gross national income ($ billions) 46.2 Population (millions) 2.0 Inflation (%) 1.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 33.1 51.0 93.9 Deposit money bank assets to GDP (%) 43.4 62.4 104.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 10.8 24.7 22.1 Stock market total value traded to GDP (%) 2.7 2.8 1.3 Outstanding domestic private debt securities to GDP (%) 2.4 4.9 6.8 Outstanding domestic public debt securities to GDP (%) 8.3 16.9 11.1 Outstanding international debt securities to GDP (%) 7.5 7.1 32.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 40.2 39.5 Firms with line of credit to total firms (all firms) (%) .. .. 71.2 Small firms with line of credit to total small firms (%) .. .. 66.4 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 97.1 Adults saving at a fin. inst. to total adults (%) .. .. 28.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 12.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 55.3 30.6 90.4 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 43.1 35.9 20.1 Corporate bonds to total bonds and notes outstanding (%) 25.6 24.3 43.3 Efficiency—Financial Institutions Net interest margin (%) 3.9 2.2 2.1 Lending-deposit spread (%) 5.7 4.6 4.5 Non-interest income to total income (%) 30.1 35.6 29.0 Overhead costs to total assets (%) 3.2 2.3 1.7 Return on average assets (%) 1.1 0.8 –0.2 Return on average equity (%) 11.6 9.6 –2.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 16.5 8.9 3.0 Stability—Financial Institutions Bank Z-score 21.0 15.4 15.2 Bank non-performing loans to gross loans (%) .. 2.5 3.6 Bank capital to total assets (%) .. 8.5 8.2 Bank credit to bank deposits (%) 80.0 105.0 160.7 Regulatory capital to risk-weighted assets (%) .. 10.5 11.3 Liquid assets to deposits and short term funding (%) 48.5 32.0 9.9 Stability—Financial Markets Volatility of stock price index .. 13.3 22.1 Other Indicators—Financial Institutions Bank concentration (%) 68.7 56.7 50.1 Bank deposits to GDP (%) 41.0 52.0 57.8 H-statistic .. .. 0.5 Lerner index 0.24 0.21 0.27 Boone indicator –0.05 –0.02 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.19 0.58 0.35 182 2013 The Little Data Book on Financial Development East Asia & Pacific Solomon Islands Lower middle income Gross domestic product ($ millions) 678.6 Gross national income ($ millions) 554.7 Population (thousands) 538 Inflation (%) 1.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 9.6 10.8 21.8 Deposit money bank assets to GDP (%) 18.1 15.5 24.1 Non-bank financial institutions’ assets to GDP (%) 6.5 14.8 1.9 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 8.9 8.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 11.6 13.4 11.1 Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 53.8 55.6 137.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 17.7 20.5 43.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 183 Somalia Sub-Saharan Africa Low income Gross domestic product ($ millions) .. Gross national income ($ millions) .. Population (millions) 9.3 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 31.0 Adults saving at a fin. inst. to total adults (%) .. .. 13.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 184 2013 The Little Data Book on Financial Development Sub-Saharan Africa South Africa Upper middle income Gross domestic product ($ billions) 363.5 Gross national income ($ billions) 356.3 Population (millions) 50.0 Inflation (%) 4.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 65.0 64.1 71.7 Deposit money bank assets to GDP (%) 70.6 70.9 82.3 Non-bank financial institutions’ assets to GDP (%) 76.7 101.7 21.1 Depth—Financial Markets Stock market capitalization to GDP (%) 165.9 209.0 252.2 Stock market total value traded to GDP (%) 53.6 74.4 101.9 Outstanding domestic private debt securities to GDP (%) 9.9 12.6 17.5 Outstanding domestic public debt securities to GDP (%) 36.4 32.0 31.7 Outstanding international debt securities to GDP (%) 5.6 10.7 12.6 Access—Financial Institutions Bank accounts per 1,000 adults .. 522 978 Bank branches per 100,000 adults .. 7.2 10.1 Firms with line of credit to total firms (all firms) (%) .. 30.1 .. Small firms with line of credit to total small firms (%) .. 22.9 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 53.6 Adults saving at a fin. inst. to total adults (%) .. .. 22.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 38.2 59.3 46.8 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 56.2 55.9 73.6 Corporate bonds to total bonds and notes outstanding (%) 21.5 29.3 37.3 Efficiency—Financial Institutions Net interest margin (%) 3.3 2.8 3.0 Lending-deposit spread (%) 5.3 4.6 3.4 Non-interest income to total income (%) 34.6 50.4 47.2 Overhead costs to total assets (%) 3.0 3.2 3.0 Return on average assets (%) 1.7 1.3 0.9 Return on average equity (%) 15.7 22.5 13.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 27.4 38.9 51.8 Stability—Financial Institutions Bank Z-score 17.9 25.8 28.6 Bank non-performing loans to gross loans (%) .. 1.8 5.8 Bank capital to total assets (%) .. 7.9 7.0 Bank credit to bank deposits (%) 134.1 121.2 129.0 Regulatory capital to risk-weighted assets (%) .. 12.3 14.9 Liquid assets to deposits and short term funding (%) 7.2 19.2 14.6 Stability—Financial Markets Volatility of stock price index 24.6 20.8 33.6 Other Indicators—Financial Institutions Bank concentration (%) 75.0 94.2 73.1 Bank deposits to GDP (%) 50.1 52.2 67.2 H-statistic .. .. 0.9 Lerner index 0.11 0.12 0.19 Boone indicator –0.04 –0.03 0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.14 0.08 0.07 The Little Data Book on Financial Development 2013 185 Spain High income Gross domestic product ($ billions) 1,383.3 Gross national income ($ billions) 1,363.1 Population (millions) 46.1 Inflation (%) 1.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 90.1 130.0 208.4 Deposit money bank assets to GDP (%) 110.8 144.3 229.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 75.5 84.0 86.0 Stock market total value traded to GDP (%) 140.0 121.4 103.0 Outstanding domestic private debt securities to GDP (%) 11.4 33.6 62.1 Outstanding domestic public debt securities to GDP (%) 43.7 33.5 42.5 Outstanding international debt securities to GDP (%) 30.0 58.8 124.8 Access—Financial Institutions Bank accounts per 1,000 adults 929 707 853 Bank branches per 100,000 adults 46.5 39.6 39.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 93.3 Adults saving at a fin. inst. to total adults (%) .. .. 35.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 75.4 52.4 84.9 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 30.4 58.5 62.7 Corporate bonds to total bonds and notes outstanding (%) 18.3 52.5 60.4 Efficiency—Financial Institutions Net interest margin (%) 2.7 1.6 1.5 Lending-deposit spread (%) 2.2 .. .. Non-interest income to total income (%) 32.9 36.7 26.8 Overhead costs to total assets (%) 2.2 1.1 1.0 Return on average assets (%) 0.9 0.7 0.6 Return on average equity (%) 11.7 10.9 8.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 192.0 163.9 128.6 Stability—Financial Institutions Bank Z-score 64.0 53.6 59.1 Bank non-performing loans to gross loans (%) .. 0.8 4.6 Bank capital to total assets (%) .. 6.3 6.2 Bank credit to bank deposits (%) 121.0 134.8 129.5 Regulatory capital to risk-weighted assets (%) .. 12.0 12.0 Liquid assets to deposits and short term funding (%) 41.3 31.2 21.3 Stability—Financial Markets Volatility of stock price index 20.3 13.9 36.6 Other Indicators—Financial Institutions Bank concentration (%) 48.6 39.1 32.8 Bank deposits to GDP (%) 75.9 96.3 159.6 H-statistic .. .. 0.6 Lerner index 0.18 0.24 0.19 Boone indicator –0.09 –0.05 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.25 0.76 0.72 186 2013 The Little Data Book on Financial Development South Asia Sri Lanka Lower middle income Gross domestic product ($ billions) 49.6 Gross national income ($ billions) 49.0 Population (millions) 20.7 Inflation (%) 6.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 27.0 29.3 23.9 Deposit money bank assets to GDP (%) 32.1 35.6 33.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 7.8 19.1 28.0 Stock market total value traded to GDP (%) 1.0 3.5 4.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 0.7 2.1 3.7 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 68.5 Adults saving at a fin. inst. to total adults (%) .. .. 28.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 17.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 68.4 43.1 12.7 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 62.6 48.9 58.1 Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 4.3 3.8 Lending-deposit spread (%) 7.0 5.1 3.3 Non-interest income to total income (%) 31.6 29.3 24.9 Overhead costs to total assets (%) 3.7 3.5 3.5 Return on average assets (%) 0.2 0.9 1.1 Return on average equity (%) 5.5 17.6 18.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 7.1 24.5 40.9 Stability—Financial Institutions Bank Z-score 14.0 16.8 19.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 86.0 88.9 79.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 49.3 43.6 25.6 Stability—Financial Markets Volatility of stock price index 21.2 24.7 28.8 Other Indicators—Financial Institutions Bank concentration (%) 69.0 59.4 54.6 Bank deposits to GDP (%) 31.1 33.7 31.1 H-statistic .. .. 0.5 Lerner index 0.16 0.23 0.27 Boone indicator –0.09 –0.08 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.13 0.12 0.12 The Little Data Book on Financial Development 2013 187 St. Kitts and Nevis High income Gross domestic product ($ millions) 673.2 Gross national income ($ millions) 639.0 Population (thousands) 52 Inflation (%) 0.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 63.4 56.1 69.0 Deposit money bank assets to GDP (%) 101.3 110.7 136.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 51.0 92.3 Stock market total value traded to GDP (%) .. 0.6 1.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 45.8 48.4 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 4.1 2.1 2.1 Lending-deposit spread (%) 6.8 5.5 4.0 Non-interest income to total income (%) 23.3 53.7 40.1 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 1.7 1.8 1.4 Return on average equity (%) 18.5 15.7 7.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 0.3 0.9 Stability—Financial Institutions Bank Z-score 9.2 11.0 18.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 64.0 49.8 51.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 18.5 53.2 33.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 93.8 113.1 151.1 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. 1.42 2.10 188 2013 The Little Data Book on Financial Development Latin America & Caribbean St. Lucia Upper middle income Gross domestic product ($ billions) 1.2 Gross national income ($ billions) 1.2 Population (thousands) 174 Inflation (%) 0.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 73.5 74.5 110.9 Deposit money bank assets to GDP (%) 82.8 88.4 123.7 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 5.1 9.5 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 5.6 .. 4.5 Lending-deposit spread (%) 8.3 7.8 7.3 Non-interest income to total income (%) .. .. 25.7 Overhead costs to total assets (%) .. .. 3.2 Return on average assets (%) 1.9 2.1 0.1 Return on average equity (%) 18.4 18.8 1.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 16.7 18.9 17.7 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 105.6 95.3 185.5 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 10.3 11.5 28.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 .. 92.6 Bank deposits to GDP (%) 69.5 79.3 104.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.10 –0.10 –0.10 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 189 St. Vincent & Grenadines Latin America & Caribbean Upper middle income Gross domestic product ($ millions) 674.8 Gross national income ($ millions) 657.4 Population (thousands) 109 Inflation (%) 1.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 52.9 44.9 49.6 Deposit money bank assets to GDP (%) 64.7 60.1 63.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 5.1 10.0 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 6.9 6.7 6.3 Non-interest income to total income (%) .. 43.5 39.7 Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. 2.2 0.1 Return on average equity (%) .. 21.5 1.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 10.6 8.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 74.2 70.2 95.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 20.0 14.4 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 72.2 64.6 62.3 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 190 2013 The Little Data Book on Financial Development Sub-Saharan Africa Sudan Lower middle income Gross domestic product ($ billions) 67.0 Gross national income ($ billions) 60.4 Population (millions) 33.6 Inflation (%) 13.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 1.8 8.4 10.9 Deposit money bank assets to GDP (%) 2.1 9.7 15.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 6.9 Adults saving at a fin. inst. to total adults (%) .. .. 3.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.4 4.4 3.8 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 74.3 46.3 54.1 Overhead costs to total assets (%) 6.0 4.8 3.4 Return on average assets (%) 0.1 0.8 1.6 Return on average equity (%) 1.7 9.5 11.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.7 11.6 17.7 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 37.5 70.3 86.4 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 149.3 98.4 48.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 94.8 93.5 56.3 Bank deposits to GDP (%) 5.3 12.2 12.7 H-statistic .. .. 0.3 Lerner index 0.08 0.34 0.21 Boone indicator –0.07 –0.06 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 191 Suriname Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 4.4 Gross national income ($ billions) 4.2 Population (thousands) 525 Inflation (%) 6.9 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.9 17.0 26.4 Deposit money bank assets to GDP (%) 12.3 20.9 27.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 13.5 10.1 5.4 Non-interest income to total income (%) 60.3 54.3 21.4 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 0.6 1.7 1.4 Return on average equity (%) 9.4 26.7 19.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 13.6 16.2 16.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 34.3 51.4 57.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 77.8 60.5 52.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 17.5 35.1 65.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 192 2013 The Little Data Book on Financial Development Sub-Saharan Africa Swaziland Lower middle income Gross domestic product ($ billions) 3.7 Gross national income ($ billions) 3.5 Population (millions) 1.1 Inflation (%) 4.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 12.6 18.9 23.1 Deposit money bank assets to GDP (%) 13.2 21.4 25.4 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 5.4 8.3 .. Stock market total value traded to GDP (%) 0.0 0.0 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 352 455 Bank branches per 100,000 adults .. 5.8 5.7 Firms with line of credit to total firms (all firms) (%) .. 21.9 .. Small firms with line of credit to total small firms (%) .. 21.3 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 28.6 Adults saving at a fin. inst. to total adults (%) .. .. 17.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.1 6.4 5.2 Lending-deposit spread (%) 7.5 6.6 5.9 Non-interest income to total income (%) 32.0 41.9 47.6 Overhead costs to total assets (%) 7.4 7.3 5.7 Return on average assets (%) 0.8 2.7 2.6 Return on average equity (%) 17.1 17.8 18.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 0.2 0.0 .. Stability—Financial Institutions Bank Z-score 6.9 11.9 11.5 Bank non-performing loans to gross loans (%) .. 7.0 8.0 Bank capital to total assets (%) .. 14.4 12.2 Bank credit to bank deposits (%) 70.3 107.4 102.3 Regulatory capital to risk-weighted assets (%) .. 17.3 20.1 Liquid assets to deposits and short term funding (%) 39.3 15.7 44.6 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 91.9 67.7 84.6 Bank deposits to GDP (%) 19.5 18.8 22.0 H-statistic .. .. .. Lerner index 0.11 0.20 0.18 Boone indicator –0.27 –0.23 –0.16 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.06 0.06 0.05 The Little Data Book on Financial Development 2013 193 Sweden High income Gross domestic product ($ billions) 461.9 Gross national income ($ billions) 471.2 Population (millions) 9.4 Inflation (%) 1.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 39.8 102.6 124.3 Deposit money bank assets to GDP (%) 46.1 110.7 138.7 Non-bank financial institutions’ assets to GDP (%) 36.7 20.3 17.2 Depth—Financial Markets Stock market capitalization to GDP (%) 134.4 104.4 112.0 Stock market total value traded to GDP (%) 122.0 117.2 92.1 Outstanding domestic private debt securities to GDP (%) 39.3 40.3 59.4 Outstanding domestic public debt securities to GDP (%) 43.9 39.6 28.0 Outstanding international debt securities to GDP (%) 40.3 47.4 89.1 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 99.0 Adults saving at a fin. inst. to total adults (%) .. .. 63.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 23.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 49.4 55.4 68.8 Efficiency—Financial Institutions Net interest margin (%) 2.0 1.4 1.3 Lending-deposit spread (%) 3.7 2.5 .. Non-interest income to total income (%) 49.3 47.7 38.5 Overhead costs to total assets (%) 1.5 1.1 1.2 Return on average assets (%) 0.7 0.5 0.3 Return on average equity (%) 20.4 14.7 6.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 109.2 119.9 91.7 Stability—Financial Institutions Bank Z-score 16.5 16.0 21.5 Bank non-performing loans to gross loans (%) .. 0.8 2.0 Bank capital to total assets (%) .. 4.8 5.0 Bank credit to bank deposits (%) 229.3 236.3 247.3 Regulatory capital to risk-weighted assets (%) .. 10.1 12.7 Liquid assets to deposits and short term funding (%) 43.0 38.9 56.8 Stability—Financial Markets Volatility of stock price index 29.4 16.9 40.3 Other Indicators—Financial Institutions Bank concentration (%) 52.6 59.7 60.7 Bank deposits to GDP (%) 42.0 43.0 56.6 H-statistic .. .. 0.1 Lerner index 0.08 0.22 0.19 Boone indicator –0.05 –0.06 –0.02 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.33 0.28 0.35 194 2013 The Little Data Book on Financial Development Switzerland High income Gross domestic product ($ billions) 529.4 Gross national income ($ billions) 570.2 Population (millions) 7.8 Inflation (%) 0.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 159.5 159.3 172.2 Deposit money bank assets to GDP (%) 172.9 171.6 186.0 Non-bank financial institutions’ assets to GDP (%) 142.7 114.6 .. Depth—Financial Markets Stock market capitalization to GDP (%) 281.9 236.5 221.9 Stock market total value traded to GDP (%) 217.8 215.8 160.7 Outstanding domestic private debt securities to GDP (%) 39.4 31.5 30.1 Outstanding domestic public debt securities to GDP (%) 21.4 31.4 23.1 Outstanding international debt securities to GDP (%) 35.8 73.6 89.3 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 56.7 52.8 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 67.0 66.8 69.6 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 28.2 30.3 39.4 Corporate bonds to total bonds and notes outstanding (%) 69.9 51.8 58.8 Efficiency—Financial Institutions Net interest margin (%) 1.3 1.4 0.1 Lending-deposit spread (%) 1.3 2.6 2.7 Non-interest income to total income (%) 66.7 70.2 76.2 Overhead costs to total assets (%) 2.1 1.4 2.2 Return on average assets (%) 1.0 0.9 0.3 Return on average equity (%) 19.4 19.9 5.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 82.9 100.3 77.3 Stability—Financial Institutions Bank Z-score 17.6 14.1 17.2 Bank non-performing loans to gross loans (%) .. 0.5 0.4 Bank capital to total assets (%) .. 5.1 5.4 Bank credit to bank deposits (%) 135.9 117.4 116.3 Regulatory capital to risk-weighted assets (%) .. 12.4 17.3 Liquid assets to deposits and short term funding (%) 55.9 64.6 62.6 Stability—Financial Markets Volatility of stock price index 16.8 13.0 23.9 Other Indicators—Financial Institutions Bank concentration (%) 80.7 81.2 80.2 Bank deposits to GDP (%) 129.4 135.3 145.9 H-statistic .. .. 0.5 Lerner index 0.23 0.26 0.21 Boone indicator –0.07 –0.05 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.35 0.35 0.31 The Little Data Book on Financial Development 2013 195 Syrian Arab Republic Middle East & North Africa Lower middle income Gross domestic product ($ billions) 59.1 Gross national income ($ billions) 57.3 Population (millions) 20.4 Inflation (%) 4.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.2 11.7 19.9 Deposit money bank assets to GDP (%) 34.7 30.9 43.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 220 Bank branches per 100,000 adults .. 2.5 3.8 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 23.3 Adults saving at a fin. inst. to total adults (%) .. .. 5.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 13.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 2.2 2.4 Lending-deposit spread (%) 5.0 1.5 3.7 Non-interest income to total income (%) .. 7.2 32.0 Overhead costs to total assets (%) .. 3.3 1.5 Return on average assets (%) 0.2 –1.8 0.5 Return on average equity (%) 15.0 –50.4 4.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 1.1 2.6 15.1 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 22.1 31.9 34.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 101.7 121.2 53.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 97.5 64.7 Bank deposits to GDP (%) 33.7 42.0 43.5 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. –0.07 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 196 2013 The Little Data Book on Financial Development Europe & Central Asia Tajikistan Low income Gross domestic product ($ billions) 5.6 Gross national income ($ billions) 5.6 Population (millions) 6.9 Inflation (%) 6.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 11.8 14.3 .. Deposit money bank assets to GDP (%) 11.9 14.5 11.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 33.6 Small firms with line of credit to total small firms (%) .. .. 26.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 2.5 Adults saving at a fin. inst. to total adults (%) .. .. 0.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 8.4 6.3 Lending-deposit spread (%) 24.3 13.5 18.0 Non-interest income to total income (%) .. 61.2 40.3 Overhead costs to total assets (%) .. 9.8 5.0 Return on average assets (%) .. 3.0 0.8 Return on average equity (%) .. 14.6 4.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 17.5 9.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 419.6 287.6 .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. 40.9 14.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 100.0 Bank deposits to GDP (%) 2.8 4.5 10.8 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. 0.11 0.27 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 197 Tanzania Sub-Saharan Africa Low income Gross domestic product ($ billions) 22.9 Gross national income ($ billions) 22.8 Population (millions) 44.8 Inflation (%) 6.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 3.9 8.4 14.6 Deposit money bank assets to GDP (%) 8.6 14.1 22.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 2.0 4.3 .. Stock market total value traded to GDP (%) 0.2 0.1 0.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults 25 83 131 Bank branches per 100,000 adults 1.1 1.2 1.8 Firms with line of credit to total firms (all firms) (%) .. 16.3 .. Small firms with line of credit to total small firms (%) .. 11.3 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 17.3 Adults saving at a fin. inst. to total adults (%) .. .. 11.9 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 12.0 4.6 5.0 Lending-deposit spread (%) 14.2 10.5 8.0 Non-interest income to total income (%) .. 37.6 40.2 Overhead costs to total assets (%) .. 4.9 5.6 Return on average assets (%) 0.9 2.3 1.5 Return on average equity (%) 4.2 27.9 13.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 15.4 2.4 .. Stability—Financial Institutions Bank Z-score 6.4 16.4 19.8 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 33.1 45.9 83.3 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 39.0 70.9 28.8 Stability—Financial Markets Volatility of stock price index .. .. 49.4 Other Indicators—Financial Institutions Bank concentration (%) .. 55.5 55.8 Bank deposits to GDP (%) 11.4 17.9 25.3 H-statistic .. .. .. Lerner index .. 0.20 0.30 Boone indicator 0.00 –0.09 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.00 0.00 0.00 198 2013 The Little Data Book on Financial Development East Asia & Pacific Thailand Upper middle income Gross domestic product ($ billions) 318.9 Gross national income ($ billions) 305.2 Population (millions) 69.1 Inflation (%) 3.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 116.6 97.9 92.2 Deposit money bank assets to GDP (%) 131.6 112.2 104.6 Non-bank financial institutions’ assets to GDP (%) .. .. 8.3 Depth—Financial Markets Stock market capitalization to GDP (%) 34.6 69.1 67.1 Stock market total value traded to GDP (%) 25.6 57.0 57.3 Outstanding domestic private debt securities to GDP (%) 11.5 14.2 18.8 Outstanding domestic public debt securities to GDP (%) 13.2 27.9 47.6 Outstanding international debt securities to GDP (%) 11.3 6.1 3.1 Access—Financial Institutions Bank accounts per 1,000 adults .. 984 1,120 Bank branches per 100,000 adults .. 8.4 11.2 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 72.7 Adults saving at a fin. inst. to total adults (%) .. .. 42.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 19.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 20.6 28.8 38.1 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 54.8 52.9 54.6 Corporate bonds to total bonds and notes outstanding (%) 47.9 34.7 26.6 Efficiency—Financial Institutions Net interest margin (%) 1.8 2.8 2.2 Lending-deposit spread (%) 4.5 3.9 4.9 Non-interest income to total income (%) 36.0 24.4 28.6 Overhead costs to total assets (%) 2.0 1.8 1.9 Return on average assets (%) –0.1 1.3 1.1 Return on average equity (%) –1.9 15.2 11.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 49.0 73.3 117.6 Stability—Financial Institutions Bank Z-score 1.8 4.2 4.7 Bank non-performing loans to gross loans (%) .. 9.1 3.9 Bank capital to total assets (%) .. 9.0 11.3 Bank credit to bank deposits (%) 101.6 99.1 100.5 Regulatory capital to risk-weighted assets (%) .. 13.2 16.0 Liquid assets to deposits and short term funding (%) 20.0 12.4 16.9 Stability—Financial Markets Volatility of stock price index 42.0 22.3 29.1 Other Indicators—Financial Institutions Bank concentration (%) 49.6 43.7 37.5 Bank deposits to GDP (%) 103.2 99.7 79.0 H-statistic .. .. 0.7 Lerner index 0.08 0.34 0.39 Boone indicator –0.07 –0.09 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.06 0.08 0.08 The Little Data Book on Financial Development 2013 199 Timor-Leste East Asia & Pacific Lower middle income Gross domestic product ($ millions) 875.1 Gross national income ($ billions) 3.2 Population (millions) 1.1 Inflation (%) 6.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. 29.2 15.2 Deposit money bank assets to GDP (%) .. 29.2 15.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 6.9 Small firms with line of credit to total small firms (%) .. .. 5.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. 15.9 10.2 Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 14.6 139.0 22.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. 21.2 43.0 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 200 2013 The Little Data Book on Financial Development Sub-Saharan Africa Togo Low income Gross domestic product ($ billions) 3.2 Gross national income ($ billions) 3.1 Population (millions) 6.0 Inflation (%) 1.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 15.7 16.9 20.7 Deposit money bank assets to GDP (%) 17.0 18.7 28.9 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 53 181 Bank branches per 100,000 adults .. 1.4 3.7 Firms with line of credit to total firms (all firms) (%) .. .. 21.6 Small firms with line of credit to total small firms (%) .. .. 22.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 10.2 Adults saving at a fin. inst. to total adults (%) .. .. 3.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 8.3 3.1 1.3 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 54.2 74.7 53.4 Overhead costs to total assets (%) 6.7 5.3 4.3 Return on average assets (%) 1.9 1.5 1.4 Return on average equity (%) 31.7 12.9 15.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.7 8.3 7.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 100.2 78.4 68.2 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 53.9 52.7 51.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Bank deposits to GDP (%) 14.8 21.9 31.4 H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.71 0.28 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 201 Tonga East Asia & Pacific Lower middle income Gross domestic product ($ millions) 357.5 Gross national income ($ millions) 361.7 Population (thousands) 104 Inflation (%) 3.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 38.7 45.0 44.8 Deposit money bank assets to GDP (%) 43.1 49.4 49.5 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 20.5 21.5 Firms with line of credit to total firms (all firms) (%) .. .. 54.3 Small firms with line of credit to total small firms (%) .. .. 52.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 6.0 5.5 7.5 Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 120.6 121.0 128.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 31.3 39.5 71.2 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 202 2013 The Little Data Book on Financial Development Trinidad and Tobago High income Gross domestic product ($ billions) 20.9 Gross national income ($ billions) 19.9 Population (millions) 1.3 Inflation (%) 10.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 29.6 24.7 34.8 Deposit money bank assets to GDP (%) 35.4 30.6 44.3 Non-bank financial institutions’ assets to GDP (%) 11.2 7.0 3.8 Depth—Financial Markets Stock market capitalization to GDP (%) 52.6 106.3 57.9 Stock market total value traded to GDP (%) 1.4 3.6 0.9 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 8.7 6.9 14.4 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 75.9 Adults saving at a fin. inst. to total adults (%) .. .. 44.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.4 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.1 0.0 5.2 Lending-deposit spread (%) 8.3 6.9 7.8 Non-interest income to total income (%) 36.8 44.5 30.6 Overhead costs to total assets (%) 4.2 4.0 4.8 Return on average assets (%) 2.4 3.0 1.2 Return on average equity (%) 17.7 21.6 6.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.5 3.7 1.7 Stability—Financial Institutions Bank Z-score 27.1 29.0 36.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 75.6 78.5 58.7 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 38.5 35.0 32.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 63.1 69.1 96.3 Bank deposits to GDP (%) 38.9 31.4 51.2 H-statistic .. .. 0.5 Lerner index 0.25 0.30 0.34 Boone indicator –0.10 –0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.21 0.28 0.28 The Little Data Book on Financial Development 2013 203 Tunisia Middle East & North Africa Upper middle income Gross domestic product ($ billions) 44.2 Gross national income ($ billions) 42.0 Population (millions) 10.5 Inflation (%) 4.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 48.1 53.2 60.0 Deposit money bank assets to GDP (%) 52.4 58.5 64.5 Non-bank financial institutions’ assets to GDP (%) 9.2 3.0 3.0 Depth—Financial Markets Stock market capitalization to GDP (%) 12.0 8.4 21.7 Stock market total value traded to GDP (%) 2.3 1.0 3.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.7 11.1 7.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults 12.0 12.2 16.6 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 32.2 Adults saving at a fin. inst. to total adults (%) .. .. 5.0 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 3.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.2 2.8 2.5 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 36.1 33.6 33.0 Overhead costs to total assets (%) 2.4 2.4 2.0 Return on average assets (%) 1.2 0.5 0.5 Return on average equity (%) 11.4 5.9 5.8 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 21.3 16.9 21.7 Stability—Financial Institutions Bank Z-score 33.5 28.5 28.8 Bank non-performing loans to gross loans (%) .. 20.9 12.1 Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 129.3 126.6 121.9 Regulatory capital to risk-weighted assets (%) .. 12.4 12.6 Liquid assets to deposits and short term funding (%) 23.9 22.2 20.8 Stability—Financial Markets Volatility of stock price index .. 9.7 12.3 Other Indicators—Financial Institutions Bank concentration (%) 43.2 43.0 39.3 Bank deposits to GDP (%) 38.6 41.8 50.6 H-statistic .. .. 0.3 Lerner index 0.25 0.19 0.29 Boone indicator 0.02 0.02 0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.05 0.05 204 2013 The Little Data Book on Financial Development Europe & Central Asia Turkey Upper middle income Gross domestic product ($ billions) 731.1 Gross national income ($ billions) 723.8 Population (millions) 72.8 Inflation (%) 8.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 14.0 18.4 38.1 Deposit money bank assets to GDP (%) 32.6 40.2 63.7 Non-bank financial institutions’ assets to GDP (%) 1.2 1.1 .. Depth—Financial Markets Stock market capitalization to GDP (%) 28.5 27.2 37.1 Stock market total value traded to GDP (%) 41.6 36.8 46.1 Outstanding domestic private debt securities to GDP (%) 0.0 0.0 0.2 Outstanding domestic public debt securities to GDP (%) 15.5 37.6 31.5 Outstanding international debt securities to GDP (%) 6.4 7.0 7.6 Access—Financial Institutions Bank accounts per 1,000 adults .. 1,362 1,265 Bank branches per 100,000 adults .. 12.8 17.4 Firms with line of credit to total firms (all firms) (%) .. .. 56.8 Small firms with line of credit to total small firms (%) .. .. 50.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 57.6 Adults saving at a fin. inst. to total adults (%) .. .. 4.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.6 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 43.6 41.4 34.7 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 44.8 49.2 53.3 Corporate bonds to total bonds and notes outstanding (%) 0.0 0.0 1.0 Efficiency—Financial Institutions Net interest margin (%) 2.9 1.6 4.0 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) –16.5 50.7 31.8 Overhead costs to total assets (%) 4.6 2.8 2.4 Return on average assets (%) 0.2 10.2 2.3 Return on average equity (%) 1.7 17.0 18.6 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 69.1 153.1 237.9 Stability—Financial Institutions Bank Z-score 9.8 8.4 34.6 Bank non-performing loans to gross loans (%) .. 5.0 3.8 Bank capital to total assets (%) .. 13.4 13.4 Bank credit to bank deposits (%) 54.6 58.8 86.1 Regulatory capital to risk-weighted assets (%) .. 23.7 19.0 Liquid assets to deposits and short term funding (%) 29.1 76.9 14.3 Stability—Financial Markets Volatility of stock price index 54.8 34.4 37.5 Other Indicators—Financial Institutions Bank concentration (%) 76.3 97.6 45.5 Bank deposits to GDP (%) 28.3 32.5 42.1 H-statistic .. .. 0.6 Lerner index 0.08 0.23 0.27 Boone indicator –0.02 –0.02 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.04 0.05 The Little Data Book on Financial Development 2013 205 Turkmenistan Europe & Central Asia Upper middle income Gross domestic product ($ billions) 20.0 Gross national income ($ billions) 18.1 Population (millions) 5.0 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 0.4 Adults saving at a fin. inst. to total adults (%) .. .. 0.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 0.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 20.3 55.9 40.8 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 0.1 1.4 0.6 Return on average equity (%) 14.6 21.3 7.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 0.8 5.8 5.9 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 21.9 .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 48.8 13.7 101.5 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 206 2013 The Little Data Book on Financial Development East Asia & Pacific Tuvalu Upper middle income Gross domestic product ($ millions) 31.4 Gross national income ($ millions) 50.9 Population (thousands) 10 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) 3.8 0.9 3.1 Return on average equity (%) 37.5 5.3 16.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 13.4 17.4 21.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 207 Uganda Sub-Saharan Africa Low income Gross domestic product ($ billions) 17.2 Gross national income ($ billions) 16.9 Population (millions) 33.4 Inflation (%) 4.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.3 7.9 13.4 Deposit money bank assets to GDP (%) 9.9 14.0 19.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 0.7 1.1 15.4 Stock market total value traded to GDP (%) 0.0 0.0 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 97 192 Bank branches per 100,000 adults .. 1.2 2.5 Firms with line of credit to total firms (all firms) (%) .. 17.2 .. Small firms with line of credit to total small firms (%) .. 15.4 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 20.5 Adults saving at a fin. inst. to total adults (%) .. .. 16.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 11.2 7.9 4.6 Lending-deposit spread (%) 13.1 10.9 12.5 Non-interest income to total income (%) 16.6 10.3 35.7 Overhead costs to total assets (%) 5.5 6.8 6.6 Return on average assets (%) 4.5 3.3 2.6 Return on average equity (%) 54.3 33.4 19.0 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 2.0 2.8 0.6 Stability—Financial Institutions Bank Z-score 11.7 8.4 9.9 Bank non-performing loans to gross loans (%) .. 2.3 2.1 Bank capital to total assets (%) .. 11.7 13.9 Bank credit to bank deposits (%) 46.3 56.9 58.0 Regulatory capital to risk-weighted assets (%) .. 18.3 20.2 Liquid assets to deposits and short term funding (%) 50.6 48.8 19.2 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 65.8 63.0 56.1 Bank deposits to GDP (%) 10.9 13.9 19.5 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.07 –0.04 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.00 0.00 0.00 208 2013 The Little Data Book on Financial Development Europe & Central Asia Ukraine Lower middle income Gross domestic product ($ billions) 136.4 Gross national income ($ billions) 134.4 Population (millions) 45.9 Inflation (%) 9.4 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 8.9 25.9 61.9 Deposit money bank assets to GDP (%) 10.7 28.2 71.0 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 4.4 21.5 20.2 Stock market total value traded to GDP (%) 0.6 0.5 1.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.2 6.6 10.7 Access—Financial Institutions Bank accounts per 1,000 adults .. 2,708 3,220 Bank branches per 100,000 adults .. 3.9 2.3 Firms with line of credit to total firms (all firms) (%) .. .. 31.7 Small firms with line of credit to total small firms (%) .. .. 26.3 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 41.3 Adults saving at a fin. inst. to total adults (%) .. .. 5.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 8.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.1 2.9 5.3 Lending-deposit spread (%) 27.8 7.6 5.3 Non-interest income to total income (%) 52.8 42.1 27.8 Overhead costs to total assets (%) 8.4 3.9 4.3 Return on average assets (%) 0.6 1.2 –1.7 Return on average equity (%) 3.6 10.8 –14.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 14.3 3.6 14.9 Stability—Financial Institutions Bank Z-score 11.8 11.5 6.6 Bank non-performing loans to gross loans (%) .. 5.6 15.3 Bank capital to total assets (%) .. 12.4 14.6 Bank credit to bank deposits (%) 100.4 107.0 200.6 Regulatory capital to risk-weighted assets (%) .. 15.0 20.8 Liquid assets to deposits and short term funding (%) 42.5 31.4 23.6 Stability—Financial Markets Volatility of stock price index .. .. 51.1 Other Indicators—Financial Institutions Bank concentration (%) 59.9 31.4 31.7 Bank deposits to GDP (%) 9.3 24.4 34.4 H-statistic .. .. 0.7 Lerner index 0.26 0.19 0.13 Boone indicator –0.10 –0.11 –0.07 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.05 0.04 The Little Data Book on Financial Development 2013 209 United Arab Emirates High income Gross domestic product ($ billions) 297.6 Gross national income ($ billions) 297.5 Population (millions) 7.5 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 15.2 21.7 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 59.7 Adults saving at a fin. inst. to total adults (%) .. .. 19.2 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 10.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.9 2.5 2.5 Lending-deposit spread (%) 3.5 .. .. Non-interest income to total income (%) 29.1 52.5 30.5 Overhead costs to total assets (%) 1.4 1.1 1.2 Return on average assets (%) 1.9 3.3 1.4 Return on average equity (%) 13.9 22.4 10.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 27.8 28.2 22.6 Bank non-performing loans to gross loans (%) .. 8.3 5.6 Bank capital to total assets (%) .. 11.9 17.7 Bank credit to bank deposits (%) 102.6 94.6 105.9 Regulatory capital to risk-weighted assets (%) .. 17.4 21.8 Liquid assets to deposits and short term funding (%) 45.9 34.8 24.5 Stability—Financial Markets Volatility of stock price index .. 37.7 37.1 Other Indicators—Financial Institutions Bank concentration (%) 45.9 39.3 48.9 Bank deposits to GDP (%) .. .. .. H-statistic .. .. 1.0 Lerner index 0.28 0.47 0.42 Boone indicator –0.09 –0.06 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.18 0.19 0.13 210 2013 The Little Data Book on Financial Development United Kingdom High income Gross domestic product ($ billions) 2,251.9 Gross national income ($ billions) 2,261.8 Population (millions) 62.2 Inflation (%) 3.3 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 119.4 151.3 202.6 Deposit money bank assets to GDP (%) 119.4 151.3 202.6 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 179.5 128.2 130.0 Stock market total value traded to GDP (%) 105.3 171.9 141.3 Outstanding domestic private debt securities to GDP (%) 18.3 15.1 15.1 Outstanding domestic public debt securities to GDP (%) 29.0 29.6 55.4 Outstanding international debt securities to GDP (%) 31.7 61.5 137.8 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. 28.4 25.5 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 97.2 Adults saving at a fin. inst. to total adults (%) .. .. 43.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 11.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 34.3 29.6 29.4 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 56.0 59.1 67.1 Corporate bonds to total bonds and notes outstanding (%) 6.1 3.4 1.6 Efficiency—Financial Institutions Net interest margin (%) 0.6 0.6 0.4 Lending-deposit spread (%) 2.7 .. .. Non-interest income to total income (%) 69.9 48.3 49.1 Overhead costs to total assets (%) 1.4 1.6 0.4 Return on average assets (%) 1.1 0.6 0.0 Return on average equity (%) 14.4 14.5 0.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 64.4 142.5 117.6 Stability—Financial Institutions Bank Z-score 25.6 13.0 21.4 Bank non-performing loans to gross loans (%) .. 1.0 4.0 Bank capital to total assets (%) .. 6.1 5.4 Bank credit to bank deposits (%) 123.7 125.1 125.9 Regulatory capital to risk-weighted assets (%) .. 12.8 15.9 Liquid assets to deposits and short term funding (%) 52.0 67.9 58.4 Stability—Financial Markets Volatility of stock price index 18.0 11.5 29.1 Other Indicators—Financial Institutions Bank concentration (%) 40.9 27.2 40.7 Bank deposits to GDP (%) 98.9 119.5 170.9 H-statistic .. .. 0.6 Lerner index 0.12 0.14 0.16 Boone indicator –0.05 –0.05 –0.03 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.32 0.46 0.33 The Little Data Book on Financial Development 2013 211 United States High income Gross domestic product ($ billions) 14,447.1 Gross national income ($ billions) 14,635.6 Population (millions) 309.3 Inflation (%) 1.6 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 48.7 55.1 56.4 Deposit money bank assets to GDP (%) 55.4 60.0 64.6 Non-bank financial institutions’ assets to GDP (%) 138.7 149.7 17.7 Depth—Financial Markets Stock market capitalization to GDP (%) 161.5 133.7 111.9 Stock market total value traded to GDP (%) 255.3 164.0 268.8 Outstanding domestic private debt securities to GDP (%) 94.6 106.2 101.5 Outstanding domestic public debt securities to GDP (%) 43.3 45.9 70.8 Outstanding international debt securities to GDP (%) 15.2 27.8 47.7 Access—Financial Institutions Bank accounts per 1,000 adults .. 337 .. Bank branches per 100,000 adults .. 33.2 35.7 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 88.0 Adults saving at a fin. inst. to total adults (%) .. .. 50.4 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 20.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) 20.3 20.6 29.2 Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) 73.1 77.4 72.5 Corporate bonds to total bonds and notes outstanding (%) 67.2 68.5 54.9 Efficiency—Financial Institutions Net interest margin (%) 2.9 2.7 2.7 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 41.0 41.5 33.1 Overhead costs to total assets (%) 3.4 2.9 2.5 Return on average assets (%) 1.1 1.2 1.1 Return on average equity (%) 12.9 12.3 11.2 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 175.8 128.1 210.4 Stability—Financial Institutions Bank Z-score 26.4 25.6 26.5 Bank non-performing loans to gross loans (%) .. 0.7 4.9 Bank capital to total assets (%) .. 10.3 11.1 Bank credit to bank deposits (%) 77.5 83.3 75.4 Regulatory capital to risk-weighted assets (%) .. 12.9 15.3 Liquid assets to deposits and short term funding (%) 18.0 18.1 18.6 Stability—Financial Markets Volatility of stock price index 20.0 10.8 24.9 Other Indicators—Financial Institutions Bank concentration (%) 14.4 18.3 28.1 Bank deposits to GDP (%) 63.1 66.8 83.1 H-statistic .. .. 0.7 Lerner index 0.20 0.24 0.22 Boone indicator –0.08 –0.06 –0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.27 0.17 0.14 212 2013 The Little Data Book on Financial Development Latin America & Caribbean Uruguay Upper middle income Gross domestic product ($ billions) 39.4 Gross national income ($ billions) 38.1 Population (millions) 3.4 Inflation (%) 6.7 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 44.0 22.4 20.9 Deposit money bank assets to GDP (%) 48.1 29.8 25.7 Non-bank financial institutions’ assets to GDP (%) 0.0 0.0 0.0 Depth—Financial Markets Stock market capitalization to GDP (%) 0.7 0.6 0.4 Stock market total value traded to GDP (%) 0.0 0.0 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 12.3 32.5 24.5 Access—Financial Institutions Bank accounts per 1,000 adults .. 341 612 Bank branches per 100,000 adults 18.6 12.9 13.8 Firms with line of credit to total firms (all firms) (%) .. 45.0 48.6 Small firms with line of credit to total small firms (%) .. 37.5 41.9 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 23.5 Adults saving at a fin. inst. to total adults (%) .. .. 5.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 14.8 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 3.0 2.2 2.2 Lending-deposit spread (%) 27.8 10.8 6.2 Non-interest income to total income (%) 35.1 73.7 33.4 Overhead costs to total assets (%) 5.2 7.3 4.4 Return on average assets (%) 0.8 1.3 0.8 Return on average equity (%) 9.0 18.2 7.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 0.5 1.0 4.0 Stability—Financial Institutions Bank Z-score 4.4 4.6 4.7 Bank non-performing loans to gross loans (%) .. 5.6 1.0 Bank capital to total assets (%) .. 8.2 9.5 Bank credit to bank deposits (%) 110.6 56.6 80.5 Regulatory capital to risk-weighted assets (%) .. 22.7 15.2 Liquid assets to deposits and short term funding (%) 52.6 49.0 46.7 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 33.8 57.6 61.5 Bank deposits to GDP (%) 38.8 39.9 31.6 H-statistic .. .. 0.8 Lerner index 0.11 0.02 –0.18 Boone indicator 0.32 0.54 –0.18 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.05 0.03 0.02 The Little Data Book on Financial Development 2013 213 Uzbekistan Europe & Central Asia Lower middle income Gross domestic product ($ billions) 39.3 Gross national income ($ billions) 40.5 Population (millions) 28.6 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 676 957 Bank branches per 100,000 adults .. 40.1 47.5 Firms with line of credit to total firms (all firms) (%) .. .. 10.5 Small firms with line of credit to total small firms (%) .. .. 9.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 22.5 Adults saving at a fin. inst. to total adults (%) .. .. 0.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.5 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 12.3 3.2 2.8 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 69.0 59.0 64.2 Overhead costs to total assets (%) 10.8 7.1 3.9 Return on average assets (%) 1.5 1.0 1.2 Return on average equity (%) 4.8 6.1 11.3 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 48.6 15.7 52.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 46.4 48.8 40.0 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 93.3 69.8 87.1 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index 0.45 0.20 0.21 Boone indicator –0.06 0.00 0.04 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.00 0.04 .. 214 2013 The Little Data Book on Financial Development East Asia & Pacific Vanuatu Lower middle income Gross domestic product ($ millions) 688.9 Gross national income ($ millions) 668.6 Population (thousands) 240 Inflation (%) 2.8 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 31.8 40.2 64.1 Deposit money bank assets to GDP (%) 35.1 42.3 65.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. 45.8 Small firms with line of credit to total small firms (%) .. .. 45.2 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 4.9 .. Lending-deposit spread (%) 8.6 5.5 4.3 Non-interest income to total income (%) 41.3 47.7 46.6 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 0.6 3.7 3.8 Return on average equity (%) 10.2 35.8 27.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.4 31.2 39.4 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 36.4 46.5 43.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 32.0 75.5 45.9 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 82.2 88.1 126.1 H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. 0.00 –0.01 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. The Little Data Book on Financial Development 2013 215 Venezuela, RB Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 393.8 Gross national income ($ billions) 389.4 Population (millions) 28.8 Inflation (%) 28.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 9.4 10.1 17.7 Deposit money bank assets to GDP (%) 11.9 13.3 22.0 Non-bank financial institutions’ assets to GDP (%) 2.1 0.4 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) 6.3 3.7 1.5 Stock market total value traded to GDP (%) 0.6 0.2 0.0 Outstanding domestic private debt securities to GDP (%) 0.5 0.3 1.3 Outstanding domestic public debt securities to GDP (%) 7.9 32.9 20.3 Outstanding international debt securities to GDP (%) 16.5 15.9 10.9 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 21.8 35.4 Small firms with line of credit to total small firms (%) .. 19.7 25.6 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 44.1 Adults saving at a fin. inst. to total adults (%) .. .. 13.6 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 1.7 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) 3.4 1.5 13.7 Efficiency—Financial Institutions Net interest margin (%) 13.2 6.5 5.0 Lending-deposit spread (%) 8.9 5.2 3.5 Non-interest income to total income (%) 23.1 33.6 35.6 Overhead costs to total assets (%) 9.1 5.1 3.7 Return on average assets (%) 2.2 2.7 1.7 Return on average equity (%) 17.8 13.4 14.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 3.6 4.6 1.4 Stability—Financial Institutions Bank Z-score 11.3 13.9 6.9 Bank non-performing loans to gross loans (%) .. 1.1 3.4 Bank capital to total assets (%) .. 11.1 9.9 Bank credit to bank deposits (%) 69.0 67.0 67.8 Regulatory capital to risk-weighted assets (%) .. 15.3 13.2 Liquid assets to deposits and short term funding (%) 25.2 38.2 29.4 Stability—Financial Markets Volatility of stock price index 38.9 45.5 57.0 Other Indicators—Financial Institutions Bank concentration (%) 39.7 35.0 67.1 Bank deposits to GDP (%) 13.6 15.5 24.8 H-statistic .. .. 0.7 Lerner index 0.19 0.25 0.31 Boone indicator –0.12 –0.10 –0.08 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.03 0.02 0.02 216 2013 The Little Data Book on Financial Development East Asia & Pacific Vietnam Lower middle income Gross domestic product ($ billions) 106.4 Gross national income ($ billions) 102.0 Population (millions) 86.9 Inflation (%) 9.0 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 30.4 58.4 109.1 Deposit money bank assets to GDP (%) 32.1 65.2 118.1 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 0.7 18.7 Stock market total value traded to GDP (%) .. 0.1 17.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.7 2.7 2.2 Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. 3.3 Firms with line of credit to total firms (all firms) (%) .. .. 49.9 Small firms with line of credit to total small firms (%) .. .. 36.5 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 21.4 Adults saving at a fin. inst. to total adults (%) .. .. 7.7 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 16.2 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 2.2 2.5 2.7 Lending-deposit spread (%) 6.9 3.9 1.9 Non-interest income to total income (%) 25.1 20.2 26.4 Overhead costs to total assets (%) 1.6 1.5 1.3 Return on average assets (%) –0.3 0.7 1.2 Return on average equity (%) –8.5 11.2 12.5 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. 24.8 144.0 Stability—Financial Institutions Bank Z-score 7.5 12.5 21.6 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 402.3 499.0 862.6 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 54.5 41.0 35.0 Stability—Financial Markets Volatility of stock price index .. 41.7 40.4 Other Indicators—Financial Institutions Bank concentration (%) 84.2 73.6 39.4 Bank deposits to GDP (%) 7.4 12.0 14.1 H-statistic .. .. 0.8 Lerner index 0.33 0.24 0.20 Boone indicator –0.02 –0.04 –0.05 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. 0.00 0.03 The Little Data Book on Financial Development 2013 217 Virgin Islands (U.S.) High income Gross domestic product ($ billions) .. Gross national income ($ billions) .. Population (thousands) 110 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) .. .. .. Deposit money bank assets to GDP (%) .. .. .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. .. Adults saving at a fin. inst. to total adults (%) .. .. .. Adults borrowing from frml. fin. inst. to total adults (%) .. .. .. Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. 7.1 –1.1 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) .. .. .. Overhead costs to total assets (%) .. .. .. Return on average assets (%) .. .. .. Return on average equity (%) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) .. .. .. Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 99.0 100.0 Bank deposits to GDP (%) .. .. .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator 0.00 –1.04 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 218 2013 The Little Data Book on Financial Development West Bank and Gaza Middle East & North Africa Lower middle income Gross domestic product ($ billions) .. Gross national income ($ billions) .. Population (millions) 3.9 Inflation (%) 3.1 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.5 6.7 .. Deposit money bank assets to GDP (%) 7.0 9.5 .. Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 19.7 68.4 .. Stock market total value traded to GDP (%) 4.1 28.2 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. 543 Bank branches per 100,000 adults .. 8.2 10.3 Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 19.4 Adults saving at a fin. inst. to total adults (%) .. .. 5.5 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) .. .. .. Lending-deposit spread (%) 6.9 5.1 6.0 Non-interest income to total income (%) 2.5 12.7 40.1 Overhead costs to total assets (%) .. .. .. Return on average assets (%) 1.1 3.2 2.1 Return on average equity (%) 13.1 50.1 19.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 19.6 76.3 .. Stability—Financial Institutions Bank Z-score .. .. .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 27.8 37.3 18.0 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 66.1 55.7 43.8 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Bank deposits to GDP (%) 17.8 19.7 .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator .. .. .. Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.08 0.08 0.10 The Little Data Book on Financial Development 2013 219 Yemen, Rep. Middle East & North Africa Lower middle income Gross domestic product ($ billions) 31.0 Gross national income ($ billions) 29.1 Population (millions) 24.1 Inflation (%) 11.2 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 5.3 6.3 5.9 Deposit money bank assets to GDP (%) 8.7 11.6 14.2 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. 54 101 Bank branches per 100,000 adults .. 1.5 2.0 Firms with line of credit to total firms (all firms) (%) .. .. 8.1 Small firms with line of credit to total small firms (%) .. .. 5.7 Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 3.7 Adults saving at a fin. inst. to total adults (%) .. .. 1.1 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 0.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 0.0 0.0 2.3 Lending-deposit spread (%) 5.5 5.0 5.2 Non-interest income to total income (%) 22.3 25.0 27.0 Overhead costs to total assets (%) 2.2 1.6 2.2 Return on average assets (%) 0.6 1.5 1.2 Return on average equity (%) 7.5 21.9 11.1 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.6 13.2 21.0 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 30.9 36.2 28.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 46.7 40.4 82.1 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 70.9 61.7 74.5 Bank deposits to GDP (%) 17.6 18.1 19.9 H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.01 –0.03 0.00 Other Indicators—Financial Markets Number of listed firms per 10,000 people .. .. .. 220 2013 The Little Data Book on Financial Development Sub-Saharan Africa Zambia Lower middle income Gross domestic product ($ billions) 16.2 Gross national income ($ billions) 14.3 Population (millions) 12.9 Inflation (%) 8.5 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 6.7 7.1 10.7 Deposit money bank assets to GDP (%) 12.4 13.7 16.8 Non-bank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 7.2 10.2 17.9 Stock market total value traded to GDP (%) 0.3 0.1 0.9 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. 16.0 .. Small firms with line of credit to total small firms (%) .. 6.3 .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 21.4 Adults saving at a fin. inst. to total adults (%) .. .. 11.8 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 6.1 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 1.4 9.2 3.7 Lending-deposit spread (%) 18.6 17.0 13.5 Non-interest income to total income (%) 75.7 41.7 48.5 Overhead costs to total assets (%) 10.3 10.3 7.6 Return on average assets (%) 0.2 2.0 1.2 Return on average equity (%) 1.9 17.6 13.9 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 1.4 1.9 14.8 Stability—Financial Institutions Bank Z-score 8.2 7.7 7.2 Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 38.9 49.3 82.8 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) 37.6 57.3 44.3 Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 65.3 57.2 72.8 Bank deposits to GDP (%) 16.3 15.5 27.2 H-statistic .. .. 0.2 Lerner index 0.09 0.29 0.27 Boone indicator –0.13 –0.13 –0.11 Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.01 0.01 0.01 The Little Data Book on Financial Development 2013 221 Zimbabwe Sub-Saharan Africa Low income Gross domestic product ($ billions) 7.5 Gross national income ($ billions) 7.3 Population (millions) 12.6 Inflation (%) .. 2000 2005 2010 Depth—Financial Institutions Bank private credit to GDP (%) 0.8 60.9 .. Deposit money bank assets to GDP (%) 1.2 91.3 .. Non-bank financial institutions’ assets to GDP (%) 0.5 39.1 .. Depth—Financial Markets Stock market capitalization to GDP (%) 40.4 57.1 .. Stock market total value traded to GDP (%) 4.0 4.6 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults .. .. .. Bank branches per 100,000 adults .. .. .. Firms with line of credit to total firms (all firms) (%) .. .. .. Small firms with line of credit to total small firms (%) .. .. .. Adults with an acct. at a formal fin. inst. to tot. adults (%) .. .. 39.7 Adults saving at a fin. inst. to total adults (%) .. .. 17.3 Adults borrowing from frml. fin. inst. to total adults (%) .. .. 4.9 Access—Financial Markets Value traded of top 10 traded companies to tot. val. traded (%) .. .. .. Mkt cap. exclud. top 10 largest companies to tot. mkt. cap. (%) .. .. .. Corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Net interest margin (%) 11.2 –67.2 7.4 Lending-deposit spread (%) .. .. .. Non-interest income to total income (%) 42.1 .. 60.8 Overhead costs to total assets (%) 6.0 .. 10.2 Return on average assets (%) 6.9 –4.2 2.4 Return on average equity (%) 56.0 –25.4 21.7 Efficiency—Financial Markets Stock market turnover ratio (value traded/capitalization) (%) 0.0 10.1 .. Stability—Financial Institutions Bank Z-score 14.0 3.2 .. Bank non-performing loans to gross loans (%) .. .. .. Bank capital to total assets (%) .. .. .. Bank credit to bank deposits (%) 89.7 33.1 79.1 Regulatory capital to risk-weighted assets (%) .. .. .. Liquid assets to deposits and short term funding (%) .. .. .. Stability—Financial Markets Volatility of stock price index .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 97.7 100.0 53.6 Bank deposits to GDP (%) 0.8 361.1 .. H-statistic .. .. .. Lerner index .. .. .. Boone indicator –0.22 –0.17 .. Other Indicators—Financial Markets Number of listed firms per 10,000 people 0.06 0.06 0.06 222 2013 The Little Data Book on Financial Development Glossary Adults borrowing from a formal �nancial institution are the percentage of adults who report borrowing any money from a bank, credit union, micro- finance institution, or another financial institution such as a cooperative in the past 12 months. Based on a world-wide household survey. (Demirgüç- Kunt and Klapper, 2012) Adults saving at a �nancial institution are the percentage of adults who report saving or setting aside any money using an account at a formal fi- nancial institution such as a bank, credit union, microfinance institution, or cooperative in the past 12 months. Based on a world-wide household survey. (Demirgüç-Kunt and Klapper, 2012) Adults with an account at a formal �nancial institution are the percentage of adults with an account (self or together with someone else) at a bank, credit union, another financial institution (e.g., cooperative, microfinance in- stitution), or the post office (if applicable) including adults who reported hav- ing a debit card. Based on a world-wide household survey. (Demirgüç-Kunt and Klapper, 2012) Bank accounts refers to the number of depositors with commercial banks per 1,000 adults. Based on data from individual commercial banks. (Interna- tional Monetary Fund) Bank branches refers to the number of commercial bank branches per 100,000 adults. Based on data from individual commercial banks. (Interna- tional Monetary Fund) Bank capital to total assets is the ratio of bank capital and reserves to total assets. Capital and reserves include funds contributed by owners, retained earnings, general and special reserves, provisions, and valuation adjust- ments. Capital includes tier 1 capital (paid-up shares and common stock), which is a common feature in all countries’ banking systems, and total regu- latory capital, which includes several specified types of subordinated debt instruments that need not be repaid if the funds are required to maintain minimum capital levels (these comprise tier 2 and tier 3 capital). Total assets include all nonfinancial and financial assets. (International Monetary Fund) Bank concentration is the ratio of assets of the three largest commercial banks to total commercial banking assets. Total assets include total earning assets, cash and due from banks, foreclosed real estate, fixed assets, good- will, other intangibles, current tax assets, deferred tax assets, discontinued operations and other assets. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Bank credit to bank deposits refers to the financial resources provided to the private sector by domestic money banks as a share of total deposits. Domestic money banks comprise commercial banks and other financial in- stitutions that accept transferable deposits, such as demand deposits. Total deposits include demand, time and saving deposits in deposit money banks. (International Monetary Fund) The Little Data Book on Financial Development 2013 223 Glossary Bank deposits refers to the total value of demand, time and saving deposits at domestic deposit money banks. Deposit money banks comprise commer- cial banks and other financial institutions that accept transferable deposits, such as demand deposits. Data are shown as a percentage of GDP. (Interna- tional Monetary Fund) Bank non-performing loans to gross loans is the ratio of defaulting loans (payments of interest and principal past due by 90 days or more) to total gross loans (the total value of the loan portfolio). The loan amount recorded as nonperforming includes the gross value of the loan as recorded on the balance sheet, not just the amount that is overdue. (International Monetary Fund) Bank private credit refers to financial resources provided to the private sec- tor by domestic money banks. Domestic money banks comprise commercial banks and other financial institutions that accept transferable deposits, such as demand deposits. Data are shown as a percentage of GDP. (International Monetary Fund, and World Bank GDP estimates) Bank Z-score captures the probability of default of a country’s banking sys- tem, calculated as a weighted average of the z-scores of a country’s individual banks (the weights are based on the individual banks’ total assets). Z-score compares a bank’s buffers (capitalization and returns) with the volatility of those returns. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Boone indicator measures the degree of competition based on profit-effi- ciency in the banking market. It is calculated as the elasticity of profits to marginal costs. An increase in the Boone indicator implies a deterioration of the competitive conduct of financial intermediaries. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Corporate bonds to total bonds and notes outstanding refers to the total amount of domestic corporate bonds and notes outstanding to the total amount of domestic bonds and notes outstanding, both corporate and non- corporate. (Bank for International Settlements) Deposit money bank assets refers to total assets held by deposit money banks. Assets include claims on domestic real nonfinancial sector which in- cludes 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 de- mand deposits. Data are shown as a percentage of GDP. (International Mon- etary Fund, and World Bank GDP estimates) Firms with line of credit refers to firms in the formal sector with a line of credit or a loan from a financial institution. Data are shown as a percentage of total firms in the formal sector. (World Bank) 224 2013 The Little Data Book on Financial Development Glossary Gross domestic product 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 degrada- tion of natural resources. Data are for 2010. (World Bank, Organisation for Economic Co-operation and Development, and United Nations) Gross national income is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop- erty income) from abroad. Data are for 2010. (World Bank, Organisation for Economic Co-operation and Development, and United Nations) H-statistic is a measure of the degree of competition in the banking market. It measures the elasticity of banks revenues relative to input prices. Under perfect competition, an increase in input prices raises both marginal costs and total revenues by the same amount, and hence the H-statistic equals 1. Under a monopoly, an increase in input prices results in a rise in marginal costs, a fall in output, and a decline in revenues, leading to an H-statistic less than or equal to 0. When H-statistic is between 0 and 1, the system operates under monopolistic competition. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Inflation reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is gen- erally used. Data are for 2010. (International Monetary Fund) Lending-deposit spread is the difference between the lending rate charged by banks on loans to the private sector and the deposit interest rate offered by commercial banks on three-month deposits. (International Monetary Fund) Lerner index is a measure of market power in the banking market. It com- pares output pricing and marginal costs (that is, markup). An increase in the Lerner index indicates a deterioration of the competitive conduct of financial intermediaries. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Liquid assets to deposits and short term funding is the ratio of the value of liquid assets (easily converted to cash) to short-term funding plus total deposits. Liquid assets include cash and due from banks, trading securities and at fair value through income, loans and advances to banks, reverse repos and cash collaterals. Deposits and short term funding includes total cus- tomer deposits (current, savings and term) and short term borrowing (money market instruments, CDs and other deposits). (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Market capitalization excluding the top 10 largest companies refers to the value of listed shares outside of the top ten largest companies to total value of all listed shares. (World Federation of Exchanges) The Little Data Book on Financial Development 2013 225 Glossary Net interest margin refers to the accounting value of a bank’s net interest revenue as a share of its average interest-bearing (total earning) assets. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Non-bank �nancial institutions’ assets refers to total assets held by finan- cial institutions that do not accept transferable deposits but that perform financial intermediation by accepting other types of deposits or by issuing se- curities or other liabilities that are close substitutes for deposits. It covers in- stitutions such as saving and mortgage loan institutions, post-office savings institution, building and loan associations, finance companies that accept deposits or deposit substitutes, development banks, and offshore banking institutions. Assets include claims on domestic real nonfinancial sector which includes central, state and local government, nonfinancial public enterprises and the private sector. Data are shown as a percentage of GDP. (International Monetary Fund, and World Bank GDP estimates) Non-interest income refers to the portion of a bank’s income that has been generated by non-interest related activities. Non-interest related income in- cludes net gains on trading and derivatives, net gains on other securities, net fees and commissions and other operating income. Data are shown as a percentage of bank’s total income (net-interest income plus non-interest income). (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Number of listed �rms is the number of domestically incorporated companies listed on the country’s stock exchanges at the end of the year per 10,000 people. Investment companies, mutual funds, or other collective investment vehicles are excluded. (Standard & Poor’s, Global Stock Markets Factbook and supplemental S&P data) Outstanding domestic private debt securities is the total amount of domes- tic private debt securities (amount outstanding) issued in domestic markets. It covers long-term bonds and notes, commercial paper and other short- term notes. Data are shown as a percentage of GDP. (Bank for International Settlements) Outstanding domestic public debt securities is the total amount of domes- tic public debt securities (amount outstanding) issued in domestic markets. It covers long-term bonds and notes, treasury bills, commercial paper and other short-term notes. Data are shown as a percentage of GDP. (Bank for International Settlements) Outstanding international debt securities is the total amount of international debt securities (amount outstanding), both public and private. It covers long- term bonds and notes and money market instruments placed on international markets. Data are shown as a percentage of GDP. (Bank for International Settlements) 226 2013 The Little Data Book on Financial Development Glossary Overhead costs to total assets refers to the operating expenses of a bank as a share of the value of all assets held. Total assets include total earning assets, cash and due from banks, foreclosed real estate, fixed assets, good- will, other intangibles, current tax assets, deferred tax assets, discontinued operations and other assets. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Population is the midyear estimate of all residents regardless of legal status or citizenship, except for refugees not permanently settled in the country of asylum who are generally considered part of the population of their country of origin. Data are for 2010. (Eurostat, United Nations Population Division, and World Bank) Regulatory capital to risk-weighted assets refers to the capital adequacy of deposit takers. It is a ratio of total regulatory capital to its held assets, weighted according to risk of those assets. (International Monetary Fund) Return on assets refers to commercial banks’ net income to yearly averaged total assets. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Return on equity refers to commercial banks’ net income to yearly averaged equity. (Cihák, Demirgüç-Kunt, Feyen and Levine 2012) Small �rms with line of credit to total small �rms is the percentage of small firms (less than 20 employees) in the formal sector with a line of credit or a loan from a financial institution. (World Bank) Stock market capitalization refers to the total value of all listed shares in a stock market as a percentage of GDP. (Standard & Poor’s, Global Stock Markets Factbook and supplemental S&P data) Stock market total value traded refers to the total value of all traded shares in a stock market exchange as a percentage of GDP. (Standard & Poor’s, Global Stock Markets Factbook and supplemental S&P data) Stock market turnover ratio refers to the total value of shares traded during the period divided by the average market capitalization for the period. (Stan- dard & Poor’s, Global Stock Markets Factbook and supplemental S&P data) Value traded of top 10 traded companies refers to the value of all traded shares of the top ten traded companies as a share of total value of all traded shares in a stock market exchange. (World Federation of Exchanges) Volatility of stock price index is the 360-day standard deviation of the return on the national stock market index. (Bloomberg) The Little Data Book on Financial Development 2013 227 1818 H Street N.W. Washington, D.C. 20433 USA Telephone: 202 473 1000 Fax: 202 477 6391 ISBN 978-0-8213-9754-1 Web site: data.worldbank.org SKU 19754 Email: data@worldbank.org AFGHANISTAN ALBANIA ALGERIA ANDORRA ANGOLA ANTIGUA AND BARBUDA ARGENTINA ARMENIA ARUBA AUSTRALIA AUSTRIA AZERBAIJAN THE BAHAMAS BAHRAIN BANGLADESH BARBADOS BELARUS BELGIUM BELIZE BENIN BERMUDA BHUTAN BOLIVIA BOSNIA AND HERZEGOVINA BOTSWANA BRAZIL BRUNEI DARUSSALAM BULGARIA BURKINA FASO BURUNDI CAMBODIA CAMEROON CANADA CAPE VERDE CAYMAN ISLANDS CENTRAL AFRICAN REPUBLIC CHAD CHILE CHINA COLOMBIA COMOROS DEMOCRATIC REPUBLIC OF CONGO REPUBLIC OF CONGO COSTA RICA CÔTE D’IVOIRE CROATIA CUBA CYPRUS CZECH REPUBLIC DENMARK DJIBOUTI DOMINICA DOMINICAN REPUBLIC ECUADOR ARAB REPUBLIC OF EGYPT EL SALVADOR EQUATORIAL GUINEA ERITREA ESTONIA ETHIOPIA FAEROE ISLANDS FIJI FINLAND FRANCE FRENCH POLYNESIA GABON THE GAMBIA GEORGIA GERMANY GHANA GREECE GRENADA GUATEMALA GUINEA GUINEA-BISSAU GUYANA HAITI HONDURAS HONG KONG, SAR CHINA HUNGARY ICELAND INDIA INDONESIA ISLAMIC REPUBLIC OF IRAN IRAQ IRELAND ISLE OF MAN ISRAEL ITALY JAMAICA JAPAN JORDAN KAZAKHSTAN KENYA KIRIBATI DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA REPUBLIC OF KOREA KOSOVO KUWAIT KYRGYZ REPUBLIC LAO PEOPLE’S DEMOCRATIC REPUBLIC LATVIA LEBANON LESOTHO LIBERIA LIBYA LIECHTENSTEIN LITHUANIA LUXEMBOURG MACAO, SAR CHINA FORMER YUGOSLAV REPUBLIC OF MACEDONIA MADAGASCAR MALAWI MALAYSIA MALDIVES MALI MALTA MARSHALL ISLANDS MAURITANIA MAURITIUS MEXICO FEDERATED STATES OF MICRONESIA MOLDOVA MONACO MONGOLIA MONTENEGRO MOROCCO MOZAMBIQUE MYANMAR NAMIBIA NEPAL NETHERLANDS NEW CALEDONIA NEW ZEALAND NICARAGUA NIGER NIGERIA NORWAY OMAN PAKISTAN PALAU PANAMA PAPUA NEW GUINEA PARAGUAY PERU PHILIPPINES POLAND PORTUGAL QATAR Q ROMANIA RUSSIAN FEDERATION RWANDA SAMOA SAN MARINO SÃO TOMÉ AND PR�NCIPE SAUDI ARABIA SENEGAL SERBIA SEYCHELLES SIERRA LEONE SINGAPORE SLOVAK REPUBLIC SLOVENIA SOLOMON ISLANDS SOMALIA SOUTH AFRICA SPAIN SRI LANKA ST. 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