## Figure 3.3. Future GDP Growth and Financial Conditions: Quantile Regressions

## Source details

**Canonical URL:** [Figure 3.3. Future GDP Growth and Financial Conditions: Quantile Regressions](https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure3-3.pdf)

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### Description
- The figure shows the sensitivity of future growth to financial conditions at various quantiles.
- For all countries in the sample, growth at the one-year-ahead horizon across selected quantiles is regressed against countries’ financial conditions indices.
- Title shown in source: "Future GDP Growth and Financial Conditions: Quantile Regressions (Percentage points)".

### Key numeric values shown on the chart axes and labels
- Vertical axis tick labels: –1.4, –1.2, –1.0, –0.8, –0.6, –0.4, –0.2, 0.0
- Horizontal labels (as presented): 5102550759095

### Findings and interpretation
- Financial conditions indices can flag downside risks to growth.
- The regression framework used: one-year-ahead GDP growth (across selected quantiles) regressed on countries’ financial conditions indices.
- Implication: adverse financial conditions are associated with lower future GDP growth, with sensitivity varying across quantiles.

### Note
- The figure displays quantile regressions; the unit on the vertical axis is percentage points.

*Source: IMF staff estimates.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure3-3.pdf_