Global Financial Stability Report: Market Developments and Issues, March 2002--Contents
Global Financial Stability Report, March 14, 2002
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- Global Financial Stability Report: Market Developments and Issues, March 2002--Contents
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Bibliographic details
- Published: March 14, 2002
- Series: Global Financial Stability Report
Main focus and conclusions
- Reviews recent developments in global financial markets and explores the potential market impact of financial imbalances and continued credit quality deterioration.
- Focuses on the expansion of credit risk transfer mechanisms — such as credit derivatives and collateralized debt obligations — as a means for distributing credit risks.
- Concludes with two essays: one on Early Warning System models and another on alternative funding instruments for emerging market countries.
Publication and access notes
- A Quarterly Report on Market Developments and Issues
- March 2002
- The Global Financial Stability Report provides quarterly assessments of global financial markets and addresses emerging market financing in a global context.
- Transcript of the Press Conference on the March 2002 Global Financial Stability Report
- Links: Global Financial Report Home; Global Financial Stability Reports; Email notification sign-up
- Use the free Adobe Acrobat Reader to view pdf files
Chapter structure and key chapter topics (with file sizes as listed)
- Foreward
- Preface
- Chapter I. Overview (169KB pdf file)
- Chapter II. Recent Developments in International Capital Markets (258KB pdf file)
- The Recovery Rally
- What Are Markets Anticipating About Recovery?
- Emerging Market Financing
- References
- Chapter III. Stability Implications of Global Financial Market Conditions (271KB pdf file)
- Financial Market Implications of Financial Imbalances and a Subdued or Delayed Recovery
- How Effective Is the Market for Credit Risk Transfer Vehicles Functioning?
- Chapter IV. Early Warning Systems Models: The Next Steps Forward (320KB pdf file)
- Current EWS models at the IMF
- EWS: A Way Forward
- Conclusion
- Chapter V. Alternative Financial Instruments and Access to Capital Markets (320KB pdf file)
- Alternative Financial Instruments: What Are They and How Do They Work?
- Policy Implications
- Concluding Remarks
Analytical emphases and issues explored
- Financial imbalances and the market impact of a subdued or delayed recovery.
- Continued credit quality deterioration and its implications for market stability.
- Expansion and functioning of credit risk transfer mechanisms, including credit derivatives and collateralized debt obligations, as means for distributing credit risks.
- Early Warning System (EWS) models: assessment of current IMF models and proposals for the next steps forward.
- Alternative financial instruments and access to capital markets for emerging market countries: structures, modalities, and policy implications.
Appendices, boxes, tables, and figures listed
- Boxes (selected titles as listed)
- 2.1 Anticipating Economic Turnarounds: The Record of the Stock Market
- 2.2 Argentina and the Asset Class
- 3.1 Financial Implications of Enron's Bankruptcy
- 4.1 The IMF's Core Early Warning Systems Models—A Primer
- 4.2 Alternative Measures of Contagion
- 5.1 Recent Bond Warrants
- 5.2 The Structure of Future-Flow Securitizations—Modalities and the Case of PEMEX
- Tables (selected entries as listed)
- Total Return Performances of Mature Equity Markets
- U.S. Corporate Bond Total Returns
- Performance of Emerging Bond Markets
- Currency of Issue
- Total Dollar Return Performance of Emerging Equity Markets
- U.S. Financial Conditions During the 1990–91 and 2001 Recessions
- Performance of Large European Banks
- Performance of Major Japanese City Banks
- Emerging Market Sovereign Bond and Loan Issues by Type
- Market Conditions and Alternative Financial Instruments
- Figures (selected entries as listed)
- Global Risk Aversion
- Global Equity Markets
- Net Purchases by Foreigners from U.S. Residents
- U.S. Treasury Yield Differentials
- S&P 500 Earnings Growth Forecasts for 2002
- U.S. Treasury Credit Curves
- U.S. Domestic Bond Issuance
- The U.S. Dollar
- Twelve-Month Forward Price-Earnings Ratio for the S&P 500
- Expected Policy Rates: Federal Funds Futures
- Emerging Market Spreads
- Average Cross-Correlation of Emerging Debt Markets
- Emerging Market Spread Correlations with Argentina
- Monthly Bond Issuance
- Loan Issuance
- Cumulative Gross Annual Issuance of Hard Currency Loans
- Loan-Weighted Interest Margin
- Net Foreign Purchases and Monthly Returns on Emerging Equity Markets
- Capital Flows to Emerging Economies
- United States: Financial Conditions, 1987–2001
- Probability Density Functions for Group of Three Exchange Rates Implied by Option Prices
- Household and Corporate Sector Balance Sheets in the Euro Area and Japan
- Japan Premium
- United States: Household and Corporate Sector Balance Sheets and Debt Services Ratios
- Performance of Bank Stock Indices Implied Earnings Growth Rates
- Implied Earnings Growth Rates
- Global Credit Derivatives Market Size and Structure
- Key Characteristics of Credit Derivatives Markets
- Spread Between Credit Derivatives Premium and Underlying Bond Spread
- The IMF Early Warning System Models: Developing Country Studies Division (DCSD) and Kaminsky, Lizondo, and Reinhart (KLR) Probabilities of Crisis
- Forward Exchange Rates for Argentine Peso
- Spot Price and Implied Probability Density Function for the Brazilian Real
- Argentina and Turkey: External Liquidity and Debt Service Ratios
- Slope of Default Swap Curve
- Korea: Financial Institutions Index (1991–2001)
Content in this bundle
- Global Financial Stability Report--March 2002
- Global Financial Stability Report--March 2002
- Global Financial Stability Report--March 2002
- Global Financial Stability Report--March 2002