These countries loosely share a social and economic system called the Nordic model and have very large government sectors.
Recent research from the Organization for Economic Co-Operation and Development suggests that countries with very large financial sectors tend to grow more slowly, have more asset bubbles, and exhibit higher levels of inequality.
11 Note that of these four countries, two have low percentages of volunteering activity (Greece and Portugal), while the other two (Sweden and Denmark) have relatively large percentages of retirees with volunteering activity (over 20%) and very large public sectors.
Scotland was heavily reliant on volatile oil taxes and had a very large banking sector, he said, yet it was expecting UK taxpayers to bail it out if there was a financial or economic crisis, after quitting the UK.
More than 80percentt of jobs in Zimbabwe have been informalized resulting in a very large informal sector.
Since well over 300,000 mutant plants were screened in the course of our out-crossing experiments and only one plant with a very large phenotypically wt sector found such as that shown in Figure 2B, we reasoned that if sectoring does occur, the vast majority of sectors would be too small to result in a visible phenotype.
Taiwan, another east Asian "miracle" economy, also has a very large state-run sector, accounting for 16% of national output.
This is because both these sectors have very large multipliers in many cases three times larger than the other largest sectors in that waste category.
Spending was cut too quickly; in particular, the very large cuts in public sector investment are now universally recognised as a mistake.
It added, though, that the threat of a debt restructuring or default will hang over Spain for years: In Moody's view, the maintenance of market access is critical because the risk that some form of burden-sharing will be imposed on bondholders is material for those countries that rely entirely or to a very large extent on official-sector funding for an extended period of time.
