The paper analyses participation in and contributions to the third pillar of the pension system by Belgian households. This pillar represents individual saving for retirement and has been growing rapidly. A detailed dataset of tax declarations over the period from 1993 until 2003 was used to...

The open character of the Belgian economy is also reflected in its financial relations with other countries. At the end of 2007, Belgium’s net foreign assets totalled around 44.4 p.c. of GDP. In the past decade, Belgium’s net financial assets have shown a marked increase, against the...

During the recent financial crisis, the deposit guarantee scheme in Belgium – as in other European countries – played a role in preventing bank runs and restoring confidence : to that end, the intervention ceilings were raised substantially and the scope of the scheme was extended to include...

The article examines developments in euro area cross-border capital flows, together with benchmark rates and bank lending rates, and shows that the process of financial integration among euro area countries over the first years of the monetary union went temporarily into reverse, starting in...

The current financial crisis has once again shown that the inherent pro-cyclicality of lending can trigger financial cycles with a potentially substantial impact on the real economy. Against that background, the article analyses the size and dynamics of the debt ratios of the various...

When analysing corporate finance, it is necessary to take account of various factors which may cause significant disparities between firms, such as their size and their sector of activity. Taking account of the size aspect, by neutralising sectoral disparities, there are few differences between...

As entities where the production process takes place, non financial corporations deserve full attention in the analysis of the real and financial accounts. However, the examination of the financial behaviour of non financial corporations is traditionally confined to their financing : thus, the...

By making simultaneous use of macro-economic data (from the national financial accounts) and micro-economic statistics (from the Household Finance and Consumption Survey (HFCS) and the Central Individual Credit Register), this article takes a closer look at the evolution and distribution of...