## Figure 1.11. Emerging Market and Developing Economies: Financial Conditions and GDP Growth

## Source details

**Canonical URL:** [Figure 1.11. Emerging Market and Developing Economies: Financial Conditions and GDP Growth](https://www.imf.org/-/media/files/publications/gfsr/2018/oct/ch1/pdf/figure1-11.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2018/oct/ch1/pdf/figure1-11.pdf.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2018/oct/ch1/pdf/figure1-11.pdf.json)

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### Key observations
- "External developments have led to a notable tightening in financial conditions ..."
- "... but the growth outlook has been relatively resilient."

### Panel 1: Emerging Market (Excluding China) Financial Conditions Index
- Metric: Z-scores over 1996–2018:Q3.
- Label: "EM = emerging market".
- Timeline indicated across 2003–2022 (axis labels shown as: 2003 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22).
- Series of index values shown: 4.8, 4.9, 4.9, 4.7, 4.7, 4.7, 4.4, 4.3, 4.7, 5.1, 5.4, 6.4, 7.4, 2.8, 5.7, 8.4, 8.0, 7.2, 7.9, 7.0.
- Indicators shown in the panel (labels present): EM external costs; House prices; Corporate valuations; Interest rates; Index.

### Panel 2: GDP Growth (Share of countries; GDP growth in percent)
- Metric: Share of countries by GDP growth bins.
- Growth bins shown exactly as in the figure: "<-3%", "–3 to 0%", "0 to 1%", "1 to 2%", "2 to 3%", "3 to 4%", "4 to 5%", ">5%".
- Vertical axis for growth rate shows ticks: –1.0, –0.8, –0.6, –0.4, –0.2, 0.0, 0.2, 0.4, 0.6, 0.8.
- Horizontal axis for share of countries shows ticks: 0, 10, 20, 30, 40, 50, 60, 70, 80, 90, 100.
- Timeline in the panel includes years 2012–18 (axis labels shown as: 2012 13 14 15 16 17 18).
- Note: Panel 2 is based on all emerging market and developing economies, as defined in the World Economic Outlook classification.

### Sample coverage
- Panel 1 sample of countries includes exactly: Argentina, Brazil, Chile, Colombia, Egypt, Hungary, India, Indonesia, Kazakhstan, Lebanon, Malaysia, Mexico, Nigeria, Peru, the Philippines, Poland, Russia, South Africa, Turkey, and Ukraine.

### Data sources and notes
- Sources listed exactly: Bloomberg Finance L.P.; Haver Analytics; IMF, International Financial Statistics database; national statistical agencies; and IMF staff estimates.
- Note text preserved: "Panel 1 is based on a sample of countries including Argentina, Brazil, Chile, Colombia, Egypt, Hungary, India, Indonesia, Kazakhstan, Lebanon, Malaysia, Mexico, Nigeria, Peru, the Philippines, Poland, Russia, South Africa, Turkey, and Ukraine. Panel 2 is based on all emerging market and developing economies, as defined in the World Economic Outlook classification."

*Source: Figure 1.11 from the supplied PDF content.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2018/oct/ch1/pdf/figure1-11.pdf_