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McKinsey Global Institute

Financial Markets

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QE and ultra-low interest rates: Distributional effects and risks

November 2013—Ultra-low interest rates, in part as a result of central-bank policies since 2007, have had a very different distributional impact on governments, corporations, financial institutions, and households.more

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Financial globalization: Retreat or reset?

March 2013—Cross-border capital flows remain 60 percent below their precrisis peak, and growth in financial assets around the world has stalled. Continued retrenchment could jeopardize investment and recovery unless policy makers can "reset" the financial system for a healthier flow of financing that supports economic growth.more

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Global flows in a digital age

April 2014—The movement of goods and services, finance, and people has reached previously unimagined levels. Global flows are creating new degrees of connectedness among economies—and playing an ever-larger role in determining the fate of nations, companies, and individuals. To be unconnected is to fall behind.more

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More on Financial Markets

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Debt and deleveraging: Uneven progress on the path to growth

January 2012—Reducing debt in mature economies continues to be a long and slow process. But lessons of history show that with the right reforms during deleveraging, countries can return to robust long-term growth.more

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The emerging equity gap: Growth and stability in the new investor landscape

December 2011—Short of a very rapid change in investor behavior and adoption of new policies in the largest emerging economies, the role of equities in the global financial system may be reduced in the coming decade.more

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Mapping global capital markets 2011

August 2011—The 2008 financial crisis and worldwide recession halted a three-decade expansion in global capital and banking markets. Today, growth has resumed, fueled not only by expanding developing economies but also by a $4.4 trillion increase in sovereign debt.more

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Debt and deleveraging: The global credit bubble and its economic consequences (Updated analysis)

July 2011—MGI has updated its analysis of how total public and private-sector debt has evolved relative to GDP for selected economies.more

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Farewell to cheap capital? The implications of long-term shifts in global investment and saving

December 2010—By 2020, half of the world's saving and investment will take place in emerging markets, and there will be a substantial gap between global investment demand and the world's likely saving.more

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Global credit bubble
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Debt and deleveraging: The global credit bubble and its economic consequences

January 2010—The recent bursting of the great global credit bubble has left a large burden of debt weighing on many households, businesses, and governments, as well as on the broader prospects for economic recovery in countries around the world. If history is a guide, one would expect many years of debt reduction, which would exert a significant drag on GDP growth.more

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An exorbitant privilege
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An exorbitant privilege? Implications of reserve currencies for competitiveness

December 2009—Could the US prioritize domestic growth and jobs over its global responsibilities, sparking greater currency volatility that threatens competitiveness?more

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Global capital markets: Entering a new era

September 2009—Mature financial markets may be headed for slower growth, while emerging markets will likely account for an increasing share of global asset growth.more

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Unleashing the Chinese consumer
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If you've got it, spend it: Unleashing the Chinese consumer

August 2009—By pursuing a more aggressive program of comprehensive reform, China's leaders could raise private consumption above 50 percent of GDP by 2025, vaulting China's economy into a new phase.more

New power brokers faring the financial market
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The new power brokers: How oil, Asia, hedge funds, and private equity are faring in the financial crisis

July 2009—Asian sovereign and petrodollar investors emerged as more influential than ever from the financial crisis, while hedge funds and private equity saw their previously rapid growth interrupted.more

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225 trillion

The total value of the world’s financial assets as of 2012more

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