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variables measured in current US dollars. Source, International Monetary Fund, Balance
of Payments Statistics, and national sources.
Rate of return on external assets/liabilities: sum of yield and capital gain.
Real exchange rate Ratio of domestic CPI, expressed in US dollars (end-of-period
exchange rate), to the United States CPI. Source: International Monetary Fund,
International Financial Statistics.
Domestic stock market returns Index of US dollar returns on the domestic stock market.
Source: Morgan Stanley Capital International.
World stock prices World stock market stock market index. Source: Morgan Stanley
Capital International.
Stock return (Portfolio Survey weights): weighted average of foreign stock market
returns, with weights corresponding to the shares of portfolio equity assets invested in the
corresponding stock markets, as reported in the 1997 IMF Portfolio Survey.
Stock return (FDI weights): weighted average of foreign stock market returns, with
weights corresponding to the shares of FDI invested in the corresponding countries, as
reported in the OECD International Investment Yearbook.
Domestic bond return: Derived from 10-year Total Return Government Bond Index.
Source: Global Financial Data.
Bond return (Portfolio Survey weights): weighted average of foreign bond returns, with
weights corresponding to the shares of portfolio debt assets invested in debt instruments of
the corresponding countries, as reported in the 1997 IMF Portfolio Survey.
Domestic short-term interest rate: Three-month money market rates where available, or
rates on proximately similar financial instruments. Source: OECD Economic Outlook
Annex Table 35.
Domestic long-term interest rate: 10-year benchmark government bond yields where
available or yield on proximately similar financial instruments. Source: OECD Economic
Outlook Annex Table 36.
Interest yield (Portfolio Survey weights): weighted average of foreign bond interest
rates, with weights corresponding to the shares of portfolio debt assets invested in debt
instruments of the corresponding countries, as reported in the 1997 IMF Portfolio Survey.
Interest yield (BIS weights): weighted average of domestic and foreign bond interest
rates, with the weights on the domestic and foreign components in proportion to the
relative importance of domestic-currency and foreign-currency assets in total overseas
lending by domestic banks. In turn, the foreign component is a weighted average across
destination countries, in proportion to the geographical spread of overseas lending by
domestic banks. The data on the overseas assets of domestic banks is from the BIS.