Munich Personal RePEc Archive

Un Indicador de Condiciones Financieras para la República Dominicana

Jiménez Polanco, Miguel A. and Ramírez de León, Francisco A. (2016): Un Indicador de Condiciones Financieras para la República Dominicana. Published in: Documento de Trabajo Banco Central de la República Dominicana No. 2016-02 (1 December 2016)

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Abstract

We estimate a Financial Conditions Index (FCI) for the Dominican Republic (DR) for the sample 2003 – January 2016 using the principal component analysis methodology and the Hatzius et al. (2010) approach. The estimated FCI captures the periods of financial stress of the Dominican economy in the analyzed sample, i.e. the banking crisis of 2003-2004 and the great financial crisis of 2007-2009. Additionally, to prove our FCI could be used as a tool of analysis and detections of financial conditions for policy makers, we make a special effort in discussing the indicator’s robustness.

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