Fig. C.6.

Financial-capitalism: stylized facts Notes: Panel A (B) depicts trade openness in the UK (World). Trade openness is defined as the ratio between the sum of imports and exports and GDP. Panel C (D) shows the evolution of the degree of equity (bond) market integration in the G7. The cross-country average standard correlation – computed using a rolling window of 20 years – is used as proxy for equity and bond market integration. Panel E shows the number of passengers (in millions) of the London underground. Panel F reports the dynamics of the UK stock market return volatility. Full details on data are reported in Appendix A and Appendix B.