Front Matter Page
European Department
Contents
Abstract
I. Introduction
II. Literature Review
III. Empirical Methodology and Data
IV. Results
A. Financial Conditions Index for Greece
B. Comparing Greece FCI with the Euro Area
C. The Relationship between GDP, Credit Growth, and the FCI
V. A New FCI
VI. Conclusions
References
Figures
Figure 1. Greece: Private Sector Balance Sheets, 2005–14
Figure 2. Share of Variance Captured by Eigenvectors
Figure 3. Financial Conditions Index, 2003–14
Figure 4. Greece: Selected Variables and FCI, 2003–14
Figure 5. FCI, Credit Growth, and GDP, 2003–14
Figure 6. Financial Conditions Index, 2003–14
Tables
Table 1. Greece and Euro Area: Financial Conditions Index List of Variables
Table 2. Greece: Financial Conditions Index Components
Table 3. Greece: Financial Conditions Index Components With Largest Weighted Loadings
Table 4. Euro Area: Financial Conditions Index Components
Table 5. Greece: FCI and Alternative FCI Components with Largest Weighted Loadings
Table 6. Estimation of Credit Growth: Autoregressive Process with One Lag, 2003–14
Table 7: Estimation of Credit Growth using the Alternative FCI, 2003–14