Table 1.  Countries involved in the crisis of 1997-8:  Net private capital flows (US $ billions) and annual percentage change in the stock market index, 1980-1996.

 

COUNTRY

 

1980

1989

1991

1993

1995

1996

 

Indonesia

PI

DFI

Loans

STK

0

.2

1.6

--

.2

.7

3.0

31.0

0

1.5

5.2

-40.8

2.5

2.0

-1.0

114.6

4.8

4.3

3.4

9.4

3.0

8.0

6.1

24.0

Malaysia

PI

DFI

Loans

STK

0

.9

1.1

--

.2

1.7

-1.3

58.2

0

4.0

.4

9.9

3.7

5.0

2.2

98.0

2.3

4.1

4.0

2.5

4.4

4.5

2.5

24.4

The Philippines

PI

DFI

Loans

STK

0

-.1

1.3

--

.3

.6

.6

31.2

0

.5

.7

76.7

1.4

1.2

1.5

154.4

2.0

1.5

.5

-6.9

1.9

1.4

1.5

22.2

Singapore

PI

DFI

Loans

STK

-.1

1.2

--

--

-.4

2.9

--

--

-.6

4.9

--

--

-7.9

4.7

--

--

-7.5

7.0

--

--

--

--

--

--

S. Korea

PI

DFI

Loans

STK

--

6.0

--

--

-.06

1.1

--

.3

.4

1.2

--

-12.2

.2

.6

--

27.7

.3

1.8

--

-14.0

--

--

--

-26.2

Thailand

PI

DFI

Loans

STK

0

.2

1.8

--

1.4

1.8

1.7

127.3

.04

2.0

3.0

16.0

3.1

1.8

3.2

88.4

2.2

2.0

6.3

-5.8

1.6

2.3

10.2

-35.0

Brazil

PI

DFI

Loans

STK

0

1.9

4.6

--

0

1.3

-3.5

1,762.5

.8

1.1

.6

2,316.0

5.5

1.3

8.4

5,437.2

4.4

4.9

8.9

-1.3

4.0

9.9

14.0

63.8

Russia

PI

DFI

Loans

STK

--

--

--

--

0

0

4.6

--

0

0

4.3

--

0

0

2.9

--

.1

2.0

-.8

--

5.0

2.5

3.2

190.6

 

Notes:    PI=Net portfolio equity flows

              DFI=Net foreign direct investment

              Loans=Net flow of long-term debt (excluding IMF loans)

  STK = annual % change in local stock market price indexes (1996 data are preliminary).

                        STK Indonesia= JSE Composite (Aug. 10, 1982=100)

                        STK Malaysia=KLSE Composite (Jan. 1977=100)

                        STK Philippines=PSE Composite (Jan. 2, 1985=100)

                        STK South Korea=KSE Composite (Jan. 1980=100)

                        STK Thailand=SET (April 30, 1975=100)

                        STK Brazil=IBOVESPA (1968=0.000000001)

                        STK Russia=ASP General 100 (June 20, 1994=100)

              Data on Hong Kong are note available.

Sources: PI, DFI and LOAN data are from Global Development Finance, 1998, vol. 1,

World Bank[Washington, DC, 1998].

   Stock index data are from the Emerging Stock Markets Factbook, 1997, International

Finance Corporation [Washington, DC, 1997].

           


Table 2.  Mexico:  Data on net private capital flows ($US billions) and annual percentage change in the stock market index, 1980-1996.

 

 

1980

1989

1991

1993

1994

1995

1996

PI

0

0

4.4

14.3

4.5

.5

3.9

DFI

2.2

3.0

4.8

4.4

11.0

9.5

7.6

Loans

6.8

-1.5

4.2

2.5

4.6

16.3

4.3

STK

--

98.0

127.7

47.9

-8.7

16.7

21.0

 

 

Notes:    PI=Net portfolio equity flows

              DFI=Net foreign direct investment

              Loans=Net flow of long-term debt (excluding IMF loans)

  STK = annual % change in Mexican stock market price index (1996 data are

preliminary).

STK Mexico=BMV General (Oct. 1978=0.7816)

Sources: PI, DFI and LOAN data are from Global Development Finance, 1998, vol. 1,

World Bank [Washington, DC, 1998].

   Stock index data are from the Emerging Stock Markets Factbook, 1997, International

Finance Corporation [Washington, DC, 1997].

           

Table 3.  Currency composition of long-term debt (%), 1980-96

 

COUNTRY

 

1980

1989

1991

1993

1995

1996

Indonesia

 

 

 

DM (%)

Yen (%)

US $ (%)

7.8

20.0

43.5

 

5.2

34.4

24.6

 

4.9

35.7

19.4

 

4.1

37.6

19.9

 

4.9

35.3

21.5

 

4.8

34.5

24.3

 

Malaysia

DM (%)

Yen (%)

US $ (%)

 

3.3

19.0

36.7

 

11.2

33.9

32.6

 

4.6

36.1

29.8

 

3.0

37.5

29.4

 

--

--

--

 

.8

28.0

55.7

 

The Philippines

DM (%)

Yen (%)

US $ (%)

 

 

2.0

21.9

51.6

 

 

1.6

30.6

40.6

 

1.6

34.3

32.9

 

1.4

38.3

30.4

 

1.5

36.9

31.5

 

 

1.6

35.3

33.8

 

S. Korea

DM (%)

Yen (%)

US $ (%)

 

 

3.7

16.6

53.5

 

3.9

27.1

35.3

 

5.2

31.4

39.3

 

 

4.2

32.0

45.7

 

--

--

--

 

--

--

--

Thailand

DM (%)

Yen (%)

US $ (%)

 

4.7

25.3

41.0

 

3.1

41.4

22.9

 

3.7

45.6

19.1

 

2.3

50.1

22.6

 

--

--

--

 

2.1

45.4

32.1

 

Brazil

DM (%)

Yen (%)

US $ (%)

 

8.1

8.5

67.8

 

7.9

5.6

64.1

 

9.3

7.5

59.4

 

5.8

6.4

63.0

 

4.8

6.3

67.4

 

4.3

5.8

69.2

 

Russia

DM (%)

Yen (%)

US $ (%)

 

--

--

--

 

28.9

3.8

33.6

 

38.6

2.7

34.3

 

24.4

1.7

62.5

 

24.8

1.9

62.1

 

22.4

1.6

65.5

 

Mexico

DM (%)

Yen (%)

US $ (%)

 

4.3

1.4

78.7

 

4.2

10.6

58.9

 

3.9

7.2

61.8

 

3.7

8.8

60.6

 

3.0

7.5

66.1

 

 

3.5

7.7

67.8

 

 

Notes:  DM (%)=% of long-term debt owed in Deutschmarks

            Yen (%)=% of long-term debt owed in Yen

            US $ (%)=of long-term debt owed in US Dollars

           

            Data on Hong Kong and Singapore are not available.

Sources:  Data on currency composition of debt are from Global Development Finance, 1998,

vol. 1, World Bank [Washington, DC, 1998].