Front Matter Page
Research Department
Contents
I. Introduction
II. The Dataset
III. Dynamics of International Financial Integration
IV. External Balance Sheet and Global Macro-financial Trends
A. Banks
B. The Euro Area Crisis
C. FDI Measurement Issues
D. Emerging and Developing Economies and the Role of China
V. Foreign Holdings of Portfolio Debt Securities
VI. Conclusions
References
Tables
1. The Size of Global Debt Securities' Markets: 2007 vs 2014
2. Share of Debt Securities held by Nonresidents: 2007 and 2015
3. Drivers of Foreign Share of Government Debt Securities, 2007 vs 2015 Cross-sectional Regressions
4. Drivers of Change in Foreign Share of Government Debt Securities, 2007-2015
5. Drivers of Foreign Share of Government Debt Securities, 2006-2015 Panel Regressions
Figures
1. Global External Assets and Liabilities
2. The Composition of World GDP
3. Changes in External Assets, Liabilities and World GDP, 2007-2015
4. Changes in External Assets and Liabilities, 2007-2015
5. Gross and Net External Positions, Advanced Economies Excluding Financial Centers
6. Net External Position: United States and Other Advanced Economies Excluding Financial Centers and United States
7. Gross and Net External Positions, Financial Centers
8. Gross and Net External Positions, Emerging and Developing Economies
9. Net External Position: China and Other Emerging and Developing Economies
10. External Assets of BIS-reporting Banks
11. Claims of BIS-reporting Banks by Destination
12. Intra-euro Area Assets
13. Emerging and Developing Economies: Changes in Share of External Assets, Liabilities, and GDP to Global GDP
14. Emerging Markets: Change in Share of Portfolio Liabilities to GDP
15. Coefficients on Time Series Dummies
Appendices
1. Data and Country Classification
2. FDI in Financial Centers: the cases of Ireland and the Netherlands
Appendix Tables
A1. FDI Positions in Ireland
A2. The Netherlands: External Assets and Liabilities, Special Financial Institutions
A3. The Netherlands: External Assets and Liabilities, Excluding Special Financial Institutions