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GLOBALISATION AND THE GROWING DEBT BURDEN/67

billion; Indonesia, Sill.5 billion; Brazil, Sill billion; India, S96.4
billion; Argentina, S80.1 billion; Turkey, S67.8 billion.

Table 5.1 Growth in financial assets, 1980-92 (Sbn and %)

Asset type

Currency
International bonds
Government bonds
Company bonds

• bank


• non-bank
  Stocks
  TOTAL

1980*

4,839

207

1,934

487

489

2,750

10,706

%

43

2

18

9

28

100

1991-92

11,288

1,465

8,707

1,856

1,844

10,323

35,483

%

32

4

25

10

29

100

RG«

1

13

9

7

6

5

• Expressed in 19 9 2 dollars.
  ** RG = average annual real rate of growth in %.

Source: McKinsey, 1994, inChesnais, 1996, p. 25.

Table 5.2 Share of financial markets in foreign debt (Sbn)

Country

Mexico
China
Thailand
South Korea
Indonesia
Brazil
India
Argentina
Turkey

Total debt

134.4

125.3

116.3

113.5

111.5

111.0

96.4

80.1

67.8

Owed to Financial Markets

73.8

67.4

95.2

102.4

48.3

73.4

28.3

50.6

38.7

%

54.9

53.7

81.9

90.2

43.3

66.1

29.4

63.2

57.1

Total 956.3 578.1 60.5

Source: OECD, Quelques aspects de la dette exterieure a la fin de 1995, Paris,
1996.