## Figure 3.13. Share of Domestic Financial Conditions Index Fluctuations Attributable to Global Financial Shocks before and after the Global Financial Crisis (Percent)

## Source details

**Canonical URL:** [Figure 3.13. Share of Domestic Financial Conditions Index Fluctuations Attributable to Global Financial Shocks before and after the Global Financial Crisis (Percent)](https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure3-13.pdf)

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### Data and method
- Sample periods:
  - Precrisis (2001–07)
  - Postcrisis (2010–16)
- Sample composition:
  - Countries in the sample with flexible exchange rates
- Empirical approach:
  - Panel vector autoregression model
- Presentation details:
  - The figure displays the share of domestic financial conditions index fluctuations attributable to global financial shocks (squares) for the two samples, along with the 90 percent confidence bands (lines).
  - Y-axis scale shown: 0, 5, 10, 15, 20, 25

### Key findings
- The figure compares the contribution of global financial shocks to domestic financial conditions index fluctuations in:
  - Precrisis (2001–07)
  - Postcrisis (2010–16)
- The visualization includes 90 percent confidence bands around the point estimates.
- Concluding observation from the figure:
  - "There seems to be no conclusive evidence that the role of global financial conditions has been increasing over time."

*Source: IMF staff estimates. See Annex 3.4 for details.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure3-13.pdf_