Ramsey has scored 13 goals in all competitions for the Gunners this term before injuring a thigh on Boxing Day.
Bale's performances for Tottenham prompted Real Madrid to pay £85m (100m euros) for the Welshman in September.
"Of course it would have spurred Ramsey on," said Keown to BBC Sport.
"It's inspirational when you see one of your team-mates or opponent, fellow countrymen, do something like Gareth Bale does.
"When he can just run past players at will.
"Last season he was totally amazing. He's still doing a decent job now."
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