A conservative estimate of the net benefits Netting the long-run benefits of less frequent financial crises with the long-run and transition costs yields average net benefits for G-20 economies of 30 per cent of GDP in present-value terms, or about € trillion (Table 1).
13  10  The Bank of Canada estimates the equivalent figures for Canada would be 1.1 per cent and 20 per cent of GDP. 11  The longer the transition period is, the more important the internal generation of earnings will be. 12  It was necessary to make a number of assumptions in this analysis.