- -term external debt stocks (percent of GDP) term external debt stocks (percent of GDP) term external debt stocks (percent of GDP) term external debt stocks (percent of GDP) Note: Simple averages. Crisis episodes are based on Gourinchas and Obstfeld (2012) and Laeven and Valencia (2013). In any country, when consecutive crises are identified within the next five years, the one associated with the lowest real GDP growth is used. For the full list of crisis episodes used in the figure, refer to Table A8. Due to the small sample size, the aggregate numbers for advanced economies in the case of debt distress episodes are not presented. B. The sovereign ratings are converted to a numerical scale ranging from 1 to 21 (higher, better rating).
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- -year dollar sovereign CDS spreads year dollar sovereign CDS spreads year dollar sovereign CDS spreads year dollar sovereign CDS spreads (basis points) (basis points) (basis points) (basis points) B. Long B. Long B. Long B. Long-term sovereign debt ratings term sovereign debt ratings term sovereign debt ratings term sovereign debt ratings (index ranging from 1 to 21 [best]) (index ranging from 1 to 21 [best]) (index ranging from 1 to 21 [best]) (index ranging from 1 to 21 [best]) Note: Simple averages. The year of global recession (2009) is shaded in gray.
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- A. Countries with extremely high spreads are excluded. Due to the small sample size, the data for advanced economies up to 2002 are not presented.
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- A.B. The numbers for 2016 are estimates.
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- F. The sovereign ratings are converted to a numerical scale ranging from 1 to 21 (higher, better rating). The horizontal line is the border between investment grade (above the line) and non-investment grade (below the line). 0 20 40 60 80 t-3 t-2 t-1 t t+1 t+2 t+3 -10 0 10 20 t-3 t-2 t-1 t t+1 t+2 t+3 7 9 11 13 15 17 t-3 t-2 t-1 t t+1 t+2 t+3 20 40 60 80 t-3 t-2 t-1 t t+1 t+2 t+3 0 10 20 30 40 50 t-3 t-2 t-1 t t+1 t+2 t+3 7 9 11 13 15 t-3 t-2 t-1 t t+1 t+2 t+3 Past oil price plunges Interquartile range Latest plunge (t = 2014) 27 Table 1. Variable list, sources and data coverage Table 1. Variable list, sources and data coverage Table 1. Variable list, sources and data coverage Table 1. Variable list, sources and data coverage Note: Year coverage differs by country in each variable. 1/ Data cover public sector, instead of general government, for Kenya and Uganda.
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