Category Archives: Economy

The GDP-per-capita ranking in Swissleaks

While looking at the data made available by the International Consortium of Investigative Journalism on the leaked swiss accounts, I had the intuition that among rich countries, scandinavian ones, particularly Finland, seem to come late in the ICJI ranking.

I thought about ranking the countries not by the amount of money found at HSBC, but by how much the amount represents in the national GDP-per-capita.

In other words: how many average worker -working for a full year- does it take to produce the same amount of money ?

It turns out that the intuition about Finland was right, if you take the countries with less more than 50 accounts (an arbitrary cut-off to keep countries with enough fraud for the averages to be meaningful), Finland comes as the most honest country: the money put at those leaked accounts represents the yearly production of only 500 Finish workers, while for Venezuela or India, it takes almost One Million average Venezuelan or Indian working a whole year to produce the equivalent amount of money. Countries like United Kingdom or France also show a very high ratio, closer to Venezuela than to Finland. Note also that in the case of France, 98% of the accounts were not properly declared to the authorities.

The Map* below illustrates this ratio between fraud and gdp-per-capita. Black is for maximum values, red for middle-high values then white is for low values, the map is a bit slow to appear. Full ranking is giving in the table**.

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