## Global Financial Stability Report: Market Developments and Issues, June 2002--Contents

_Global Financial Stability Report, June 12, 2002_

## Source details

**Canonical URL:** [Global Financial Stability Report: Market Developments and Issues, June 2002--Contents](https://www.imf.org/en/publications/gfsr/issues/2016/12/31/a-quarterly-report-on-market-developments-and-issues1)

## Other formats

- [Markdown version](/en/publications/gfsr/issues/2016/12/31/a-quarterly-report-on-market-developments-and-issues1/index.md)
- [Structured JSON version](/en/publications/gfsr/issues/2016/12/31/a-quarterly-report-on-market-developments-and-issues1/index.json)
- [Bundle manifest](/en/publications/gfsr/issues/2016/12/31/a-quarterly-report-on-market-developments-and-issues1/bundle-manifest.json)

## Bibliographic details
- Published: June 12, 2002
- Series: Global Financial Stability Report

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### Overview of the issue
- This is the second issue of the Global Financial Stability Report.
- The issue draws, in part, on a series of informal discussions with commercial investment banks, securities firms, asset management companies, insurance companies, pension funds, stock and futures exchanges, and credit rating agencies in: China, Germany, Hong Kong SAR, Hungary, Italy, Japan, Poland, Singapore, Switzerland, Thailand, the United Kingdom, and the United States.
- The report reflects mostly information available up to May 10, 2002.
- Publication date: June 2002.

### Purpose and scope
- The Global Financial Stability Report provides quarterly assessments of global financial markets and addresses emerging market financing in a global context.
- Report components available on the landing page include: Full Report PDF links, Transcript of the Press Conference on the June 2002 Global Financial Stability Report, and navigation to The Global Financial Report Home and Global Financial Stability Reports.

### Chapter structure and main thematic coverage
- Preface
- Chapter I. Overview (140KB pdf file)
  - Corporate Profitability Impacts on Financial Markets
  - Corporate Profitability and the Banking Sector
  - Financial Market Activities of Insurance Companies
  - Developments in Emerging Markets
  - Local Equity Markets
- Chapter II. Recent Developments (269KB pdf file)
  - Mature Markets
  - Mature Market Vulnerabilities--The Weakness in Japan's Banking Sector
  - Emerging Market Developments and Financing
  - References
- Chapter III. The Financial Market Activities of Insurance and Reinsurance Companies (140KB pdf file)
  - Insurance and Reinsurance Financial Activities
  - Financial Efficiency and Stability Questions Raised by Insurers' Financial Activities
  - Some Concluding Thoughts
- Chapter IV. Emerging Equity Markets (155k pdf file)
  - Emerging Market Equities as an Asset Class for Foreign Investors
  - Domestic Equity as an Alternative Source of Funding
  - Conclusions

### Analytical boxes highlighted
- 2.1 Enron: Lessons Learned and the Response
- 2.2 Mature Equity Market Valuations
- 2.3 Are Forward Short Rates Useful Indicators of Market Expectations?
- 2.4 The Shrinking U.S. Commercial Paper Market
- 2.5 The Balance of Risks for Emerging Equity Markets

### Quantitative annexes: tables and selected entries
- Tables include:
  - Performance of Mature Equity Market Sectors, 2002: Q1
  - Emerging Market Financing Overview
  - Index Performance
  - Performance of Emerging Bond Markets
  - Sovereign Spreads and Ratings
  - 2.6 Currency of Issuance
  - 2.7 Performance of Emerging Equity Markets
  - 3.1 Life Insurance: Premium Growth Rates
  - 3.2 Profitability Decomposition of Major Non-Life Markets
  - 4.1 Equity and Bond Returns

### Figures and data visualizations
- Figures listed include (selection):
  - Evolution of Consensus 2002 GDP Growth Forecasts
  - Liquidity and Credit Premia Index
  - Mature Equity Market Dollar-Denominated Indices
  - International Yield Curve Differentials
  - Expected Policy Rates: Federal Funds Futures, 2002
  - Credit Market Spreads
  - European Credit Market Spreads
  - 2.8 Japan Credit Curves
  - 2.9 Major Currencies Against the U.S. Dollar
  - 2.10 Emerging Markets Financing
  - 2.11 Emerging Market Spreads
  - 2.12 Bond Issues
  - 2.13 Average Correlations of the Returns on Emerging Equity Markets Indices
  - 2.14 Net Inflows into U.S. Equity Mutual Funds
  - 2.15 Emerging Market Earnings Forecasts
  - 2.16 Equity Placements
  - 2.17 Syndicated Loan Commitments
  - 2.18 Loan-Weighted Interest Margin
  - 2.19 Latin American Currencies Against the U.S. Dollar
  - 2.20 Asian Currencies: Cross Rates Against the Yen
  - 2.21 Asian Currencies: Non-Deliverable Forward Implied Yields
  - Total Financial Assets of Institutional Investors and Banks: United States and Japan
  - Financial Assets of Institutional Investors and Banks: Selected Euro Area Countries and United Kingdom
  - 3.3 Holdings of Financial Securities by Insurance Companies and Banks
  - 3.4 Holdings of Securities Relative to Domestic Market Size
  - 3.5 United States: Corporate and Foreign Bonds
  - 3.6 Balance Sheet Assets of Insurance Companies: United States and Japan
  - 3.7 Balance Sheet Assets of Insurance Companies: Selected Euro Area Countries and United Kingdom
  - 3.8 Global Insurance Industry Results
  - 3.9 Non-Life Insurance: Combined Ratios in the Industrial Countries
  - Equity and Bond Performances
  - 4.2 Risk-Return Trade-Off for Emerging Market and U.S. Stock Portfolios
  - 4.3 Valuation Indicators in Emerging Equity Markets
  - 4.4 Correlations Between Returns in Emerging and U.S. Equity Markets
  - 4.5 Stock Market Capitalization and Bank Credit
  - 4.6 Domestic and International Equity Issuance

### Access and related services
- Language availability noted: English
- Email notification sign-up available to receive free e-mail notices when new series and/or country items are posted on the IMF website.
- Ordering Information and Disclaimer are listed on the landing page.
- PDF viewing recommendation: Use the free Adobe Acrobat Reader to view pdf files.

*Global Financial Stability Report: Market Developments and Issues, June 2002—Contents*

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## Content in this bundle

- **Global Financial Stability Report, June 2002 -- Chapter 1: Overview**
  - [Global Financial Stability Report, June 2002 -- Chapter 1: Overview (Markdown version)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp1pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Global Financial Stability Report, June 2002 -- Chapter 1: Overview (PDF)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp1pdf.pdf){rel="external" type="application/pdf"}
- **Global Financial Stability Report, June 2002 -- Chapter 2: Recent Developments**
  - [Global Financial Stability Report, June 2002 -- Chapter 2: Recent Developments (Markdown version)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp2pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Global Financial Stability Report, June 2002 -- Chapter 2: Recent Developments (PDF)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp2pdf.pdf){rel="external" type="application/pdf"}
- **Chapter Iii**
  - [Chapter Iii (Markdown version)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp3pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Chapter Iii (PDF)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp3pdf.pdf){rel="external" type="application/pdf"}
- **Global Financial Stability Report June 2002 -- Chapter 4: Emerging Equity Markets**
  - [Global Financial Stability Report June 2002 -- Chapter 4: Emerging Equity Markets (Markdown version)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp4pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Global Financial Stability Report June 2002 -- Chapter 4: Emerging Equity Markets (PDF)](/-/media/websites/imf/imported-flagship-issues/external/pubs/ft/gfsr/2002/02/pdf/_chp4pdf.pdf){rel="external" type="application/pdf"}

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## References

- [Transcript](https://www.imf.org/external/np/tr/2002/tr020612.htm)
- [The Global Financial Report Home](https://www.imf.org/external/pubs/ft/gfsr/about.htm)
- [Global Financial Stability Reports](https://www.imf.org/external/pubs/ft/GFSR/index.htm)
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- [Ordering Information](https://www.imf.org/external/pubs/cat/longres.cfm?sk=15807.0)
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- [Adobe Acrobat Reader](https://www.imf.org/adobe)

_Source: https://www.imf.org/en/publications/gfsr/issues/2016/12/31/a-quarterly-report-on-market-developments-and-issues1_