## Figure 3.2. Risk of Severe Recessions is Especially Sensitive to a Tightening of Financial Conditions in Major Advanced and Emerging Market Economies

## Source details

**Canonical URL:** [Figure 3.2. Risk of Severe Recessions is Especially Sensitive to a Tightening of Financial Conditions in Major Advanced and Emerging Market Economies](https://www.imf.org/-/media/files/publications/gfsr/2017/october/chapter-3/csv-data/figure3-2.csv)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2017/october/chapter-3/csv-data/figure3-2.csv.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2017/october/chapter-3/csv-data/figure3-2.csv.json)

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### Dataset scope and structure
- Worksheet name: csv
- Row count: 181
- Column count: 1 (header: "Figure 3.2. Risk of Severe Recessions is Especially Sensitive to a Tightening of Financial Conditions in Major Advanced and Emerging Market Economies ")
- Data organization: Repeated blocks for countries with columns: 5th percentile (percent), Median (percent), 95th percentile (percent), FCI (standard deviations). Sample country blocks in the file include Brazil, Australia, South Africa, Sweden, Turkey, United States.
- Time coverage in sample rows: quarterly observations (sample rows show years/quarters like 1991:Q1, 91:Q2, 73:Q2, etc.).

### Key sample observations by country (first block of sample rows)
- Brazil (1991:Q1)
  - 5th percentile (percent): -13.5573477
  - Median (percent): -2.976610184
  - 95th percentile (percent): -2.619803035
  - FCI (standard deviations): 0.033523706
- Australia (1973:Q1)
  - 5th percentile (percent): 1.493578213
  - Median (percent): 3.174426344
  - 95th percentile (percent): 4.554438869
  - FCI (standard deviations): -5.610639016
- South Africa (1991:Q1)
  - 5th percentile (percent): -3.158657904
  - Median (percent): 1.230161477
  - 95th percentile (percent): 4.839149953
  - FCI (standard deviations): 0.478708177
- Sweden (1981:Q1)
  - 5th percentile (percent): -3.226339221
  - Median (percent): 2.463868963
  - 95th percentile (percent): 5.33377045
  - FCI (standard deviations): 4.979731898
- Turkey (1991:Q1)
  - 5th percentile (percent): -4.896661899
  - Median (percent): 6.456457136
  - 95th percentile (percent): 12.17238389
  - FCI (standard deviations): 1.808666397
- United States (1973:Q1)
  - 5th percentile (percent): -0.05459215
  - Median (percent): 2.396822814
  - 95th percentile (percent): 5.852929541
  - FCI (standard deviations): 6.084518621

### Additional sample quarterly observations (illustrative continuation from the file)
- Brazil (91:Q2)
  - 5th percentile (percent): -9.089740573
  - Median (percent): -0.587245023
  - 95th percentile (percent): 1.792657376
  - FCI (standard deviations): 0.0708457
- Australia (73:Q2)
  - 5th percentile (percent): 0.120080338
  - Median (percent): 3.053780424
  - 95th percentile (percent): 4.699715899
  - FCI (standard deviations): -2.125781887
- South Africa (91:Q2)
  - 5th percentile (percent): -3.084567826
  - Median (percent): 1.226175635
  - 95th percentile (percent): 4.874523967
  - FCI (standard deviations): 0.222802267
- Sweden (81:Q2)
  - 5th percentile (percent): -1.197299768
  - Median (percent): 2.541989724
  - 95th percentile (percent): 4.695082038
  - FCI (standard deviations): 3.3585408
- Turkey (91:Q2)
  - 5th percentile (percent): -1.33089668
  - Median (percent): 7.21021872
  - 95th percentile (percent): 12.28594815
  - FCI (standard deviations): 0.235841928
- United States (73:Q2)
  - 5th percentile (percent): -2.060282523
  - Median (percent): 1.740031206
  - 95th percentile (percent): 5.342542059
  - FCI (standard deviations): 9.228095459

### Interpretation notes based strictly on the provided data
- Each country block provides distributional estimates (5th percentile, median, 95th percentile) of an outcome (percent) conditional on the FCI (financial conditions index) measured in standard deviations for specific quarters.
- The sample rows show substantial cross-country variation in both distributional percentiles and concurrent FCI (standard deviations) values (for example, Brazil’s 5th percentile values can be deeply negative like -13.5573477, while Turkey’s median values can be large positive like 7.21021872 in the same sample set).
- The dataset contains additional quarterly observations beyond the sample rows shown; the structure repeats for each country across time.

*Dataset: figure3-2 (worksheet "csv", rowCount 181, columnCount 1).*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/october/chapter-3/csv-data/figure3-2.csv_