{
  "title": "How Financial Conditions Matter Differently across Latin America",
  "publication": "IMF Working Papers, October 30, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2017/10/30/how-financial-conditions-matter-differently-across-latin-america-45177",
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  "summary": "This paper develops comparable financial conditions indices (FCIs) for the six large and most financially-integrated Latin American economies (LA6) by following Korobilis (2013) and Koop and Korobilis (2014). The main findings are as follows.",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- The estimated financial conditions indices (FCIs) are influenced by a commodity cycle, a global financial cycle, as well as country-specific episodes of financial distress.\n- By early 2017, financial conditions remained favorable in most LA6 economies relative to historical standards.\n- The impact of financial shocks on economic activity widely varies across LA6 and is otherwise found to be stronger in periods of financial stress.\n- Exposure to regional financial spillovers also differs across LA6."
    },
    {
      "heading": "Methodology",
      "content": "- Develops comparable financial conditions indices (FCIs) for the six large and most financially-integrated Latin American economies (LA6) by following Korobilis (2013) and Koop and Korobilis (2014)."
    },
    {
      "heading": "Key statistics and publication metadata",
      "content": "- Pages: 27\n- Volume: 2017\n- Issue: 218\n- Series: Working Paper No. 2017/218\n- DOI: https://doi.org/10.5089/9781484325506.001\n- Stock No: WPIEA2017218\n- ISBN: 9781484325506\n- ISSN: 1018-5941\n- Date: October 30, 2017"
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Credit, Financial crises, Financial institutions, Financial sector policy and analysis, Loans, Money, Spillovers\n- Keywords: Credit, FAVAR, FCI shock, FCI variability, financial condition, Financial conditions indexes, financial conditions indices, financial spillovers, Global, la República Argentina, Loans, purges FCI variable, Spillovers, TVP-FAVAR, TVP-VAR FCI, unpurged FCIs, world commodity price, WP\n\nLuis Brandão-Marques and Esther Perez Ruiz, \"How Financial Conditions Matter Differently across Latin America\", October 30, 2017.\n\n---\n\n Content in this bundle\n\n- How Financial Conditions Matter Differently across Latin America, WP/17/218, October 2017\n  - How Financial Conditions Matter Differently across Latin America, WP/17/218, October 2017 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - How Financial Conditions Matter Differently across Latin America, WP/17/218, October 2017 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2017/10/30/how-financial-conditions-matter-differently-across-latin-america-45177"
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    "Authors: Luis Brandao Marques, Esther Perez Ruiz",
    "Published: October 30, 2017",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484325506.001",
    "The estimated financial conditions indices (FCIs) are influenced by a commodity cycle, a global financial cycle, as well as country-specific episodes of financial distress.",
    "By early 2017, financial conditions remained favorable in most LA6 economies relative to historical standards.",
    "The impact of financial shocks on economic activity widely varies across LA6 and is otherwise found to be stronger in periods of financial stress.",
    "Exposure to regional financial spillovers also differs across LA6.",
    "Develops comparable financial conditions indices (FCIs) for the six large and most financially-integrated Latin American economies (LA6) by following Korobilis (2013) and Koop and Korobilis (2014).",
    "Pages: 27",
    "Volume: 2017",
    "Issue: 218",
    "Series: Working Paper No. 2017/218",
    "DOI: https://doi.org/10.5089/9781484325506.001",
    "Stock No: WPIEA2017218",
    "ISBN: 9781484325506",
    "ISSN: 1018-5941",
    "Date: October 30, 2017",
    "Subjects: Credit, Financial crises, Financial institutions, Financial sector policy and analysis, Loans, Money, Spillovers",
    "Keywords: Credit, FAVAR, FCI shock, FCI variability, financial condition, Financial conditions indexes, financial conditions indices, financial spillovers, Global, la República Argentina, Loans, purges FCI variable, Spillovers, TVP-FAVAR, TVP-VAR FCI, unpurged FCIs, world commodity price, WP",
    "**How Financial Conditions Matter Differently across Latin America, WP/17/218, October 2017**"
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