Ludwig von Mises Institute

Denmark

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Country summary

Capital

Copenhagen

Borders

Germany 68 km

Government type

constitutional monarchy

Population

5,500,510 (July 2010 est.)[1]

Population growth

0.28% (2010 est.)[1]

Life expectancy

78.3 years[1]

Unemployment

4.3% (2009 est.)[1]

Index of Economic Freedom

9[2]

Corruption Perceptions Index

2[3]

Doing Business ranking

6[4]


Once the seat of Viking raiders and later a major north European power, Denmark has evolved into a modern, prosperous nation that is participating in the general political and economic integration of Europe. It joined NATO in 1949 and the EEC (now the EU) in 1973. However, the country has opted out of certain elements of the European Union's Maastricht Treaty, including the European Economic and Monetary Union (EMU), European defense cooperation, and issues concerning certain justice and home affairs.[1]

Economical characteristics[edit]

  • Currency: Danish krone (ISO code: DKK)
  • Central bank discount rate: 1.2% (31 December 2009)[1]
  • Commercial banks lending rate: NA%[1]
  • Stock of money (M1): $155.6 billion (31 December 2009)[1]
  • Quasi money (with M1 makes M2): $95.82 billion (31 December 2008)[1]

Notable events:[edit]

  • Banking crisis: January 1813, 1857, 1877, 1885, February 1902, 1907, 1921, 1931, 1987-1992[5], 2008
  • Public default: 1813 (domestic)
  • Years in inflation: 1.9% (share of years 1800-2009 with annual inflation above 20 per cent per annum)[6]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[7] 173 945 160 083 160 476 173 881 212 622 244 726 257 672 273 857 310 046 341 255
Govt. debt (% of GDP)[8] 50.081 48.106 48.282 46.930 42.868 35.187 29.142 24.066
Govt. revenue (% of GDP)[9] 39.869 36.498 35.363 34.641 34.633 36.247 37.565 36.243 40.583
Govt. expenses (% of GDP)[10] 37.336 35.321 35.112 34.987 35.540 34.917 33.234 32.382 36.491
Debt to revenue (years) 1.372 1.360 1.394 1.355 1.183 0.937 0.804 0.593

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Denmark", from The World Factbook. Referenced 2010-09-29.
  2. ↑ Heritage Foundation. "Denmark", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-29.
  3. ↑ Transparency International. "Denmark", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-29.
  4. ↑ Doing Business. "Denmark", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-29.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 359-360. (The list does not claim to be complete.) Referenced 2011-07-19.
  6. ↑ Carmen M. Reinhart. "This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises" (pdf), March 3, 2010, p. 40. (The list does not claim to be complete.) Referenced 2011-07-19.
  7. ↑ World Bank. "Denmark: GDP", from World Bank Data. Referenced 2010-09-29.
  8. ↑ World Bank. "Denmark: government debt", from World Bank Data. Referenced 2010-09-29.
  9. ↑ World Bank. "Denmark: government revenue", from World Bank Data. Referenced 2010-09-29.
  10. ↑ World Bank. "Denmark: government expenses", from World Bank Data. Referenced 2010-09-29.

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