## Figure 3.8. Variance Attributable to Global Financial Conditions, 1995–2016

## Source details

**Canonical URL:** [Figure 3.8. Variance Attributable to Global Financial Conditions, 1995–2016](https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure3-8.pdf)

## Other formats

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### Key finding
- The share of countries’ FCI variability accounted for by global financial conditions does not appear to display a pronounced upward trend.

### Measurement and data
- The figure displays how the share of countries’ FCI variability attributable to global financial conditions changes over time.
- Specifically, it presents the total variance explained by the first principal component across countries’ FCI using either a 36- or 60-month rolling window.
- FCI = financial conditions index.

### Timeline shown on the figure (x-axis labels)
- Jan. 1995
- Apr. 96
- Jul. 97
- Oct. 98
- Jan. 2000
- Apr. 01
- Jul. 02
- Oct. 03
- Jan. 05
- Apr. 06
- Jul. 07
- Oct. 08
- Jan. 10
- Apr. 11
- Jul. 12
- Oct. 13
- Jan. 15
- Apr. 16

### Percentage scale (y-axis)
- 0
- 10
- 20
- 30
- 40
- 50
- 60
- 70
- 80
- 90
- 100

### Series displayed
- Five year
- Three year

*Source: IMF staff estimates.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/figure3-8.pdf_