现代国际资本市场与投资银行(1)

现代国际资本市场与投资银行金岩石TotalInvestableCapitalMarket全球资本市场总额December31,1998(Preliminary)U.S.Equity21.7%CashEquivalents4.8%U.S.RealEstate4.3%EmergingMarkets2.8%Non-U.S.Bonds26.1%DollarBonds*19.6%VentureCapital0.1%Non-U.S.Equity19.6%$58.2Trillion*IncludesHigh-YieldBondsSource:BrinsonPartners,Inc.LargestRecentOne-YearRealStockPriceIndexIncreases各国股市最大一年涨幅1.2.3.4.5.6.7.8.9.1011.12.13.14.15.16.17.18.19.20.21.22.23.24.25.CountryPercentageincreaseOne-yearperiodPriceChangeoversubsequentone-yearperiod(percent)PhilippinesTaiwanVenezuelaPeruColombiaJamaicaChileItalyJamaicaThailandIndiaItalyAustriaFinlandDenmarkSpainLuxembourgSwedenPortugalLuxembourgHongKongHongKongKoreaHongKongSweden683.4400.1384.6360.9271.3224.5199.8166.4163.4161.9155.5147.3145.4128.3122.9119.8113.4111.5103.8103.6101.099.198.898.696.6Dec.1985-Dec.1986Oct.1986-Oct.1987Jan.1990-Jan.1991Aug.1992-Aug.1993Jan.1991-Jan.1992Apr.1992-Apr.1993Jan.1979-Jan.1980May1985-May1986Aug.1985-Aug.1986Oct.1986-Oct.1987Apr.1991-Apr.1992Apr.1980-Apr.1981Feb.1989-Feb.1990Sept.1992-Sept.1993Apr.1971-Apr.1972Dec.1985-Dec.1986Dec.1992-Dec.1993Aug.1982-Aug.1983Apr.1997-Apr.1998Jan.1985-Jan.1986Jan.1993-Jan.1994Feb.1975-Feb.1976Feb.1975-Feb.1976Nov.1979-Nov.1980Aug.1977-Aug.197828.465.733.115.8-19.9-59.238.9-15.78.7-2.6-50.3-32.1-19.846.3-12.44.2-10.8-9.6-34.12.6-38.5-3.431.9-22.4-50.8LargestRecentOne-YearRealStockPriceIndexDecreases各国股市最大一年跌幅Country1.2.3.4.5.6.7.8.9.1011.12.13.14.15.16.17.18.19.20.21.22.23.24.25PercentagedecreaseOne-yearperiodPriceChangeoversubsequentone-yearperiod(percent)TaiwanJamaicaSwedenUnitedKingdomThailandSouthAfricaPhilippinesKoreaPakistanIndiaDenmarkHongKongHongKongNorwaySpainNorwayAustraliaFranceIndonesiaCanadaFinlandColombiaItalyNorwayDenmark-74.9-73.8-63.6-63.3-62.8-62.1-61.9-61.9-59.5-58.4-56.0-55.5-55.1-54.2-54.1-53.6-53.0-49.0-48.1-47.9-47.5-47.1-46.1-46.1-45.8Oct.1989-Oct.1990Jan.1993-Jan.1994Aug.1976-Aug.1977Nov.1973-Nov.1974Aug.1997-Aug.1998July1985-Jul.y1986Oct.1973-Oct.1974June1997-June1998Oct.1990-Oct.1991Nov.1963-Nov.1964July1969-July1970Aug.1997-Aug.1998Dec.1981-Dec.1982May1967-May1968Oct.1976-Oct.1977Jan.1974-Jan.1975Oct.1973-Oct.1974Sept.1973-Sept.1974Mar.1997-Mar.1998June1981-June1982Feb.1990-Feb.1991Jan.1980-Jan.1981Apr.1974-Apr.1975Dec.1989-Dec.1990Sept.1973-Sept.197485.169.696.672.771.948.9-14.1167.09.0-18.8-15.390.07.739.9-15.6-2.133.625.3-45.169.46.374.2-31.368.614.7LargestRecentFive-YearRealStockPriceIndexIncreases各国股市最大五年涨幅CountryPercentageincreaseFive-yearperiodPriceChangeoversubsequentfive-yearperiod(percent)1.2.3.4.5.6.7.8.9.1011.12.13.14.15.16.17.18.19.20.21.22.23.24.25PhilippinesPeruChileJamaicaKoreaMexicoTaiwanThailandColombiaSpainIndiaFinlandAustriaPortugalFinlandJamaicaJapanFranceFinlandHongKongNetherlandsNorwayNorwaySwedenHongKong1,253.2743.1689.7573.9518.3501.7468.1430.7390.7381.9346.1336.3331.3329.1291.0280.2275.6262.6262.5261.6256.6253.1248.4247.1230.9Nov.1984-Nov.1989Sept.1991-Sept.1996Mar.1985-Mar.1990Dec.1980-Dec.1985Mar.1984-Mar.1989Jan.1989-Jan.1994May1986-May1991May1986-May1991Apr.1989-Apr.1994Oct.1982-Oct.1987Apr.1987-Apr.1992Sept.1992-Sept.1997Jan.1985-Jan.1990Apr.1993-Apr.1998Sept.1982-Sept.1987July1984-July1987Aug.1982-Aug.1987Mar.1982-Mar.1987Feb.1968-Feb.1973Jan.1975-Jan.1980July1993-July1998Sept.1982-Sept.1987Oct.1992-Oct.1997Aug.1982-Aug.1987Oct.1982-Oct.198743.5Notavailable104.238.7-36.6-50.9-12.717.0-52.0-33.758.4Notavailable-39.7Notavailable-55.510.9-48.510.2-68.2-17.2Notavailable-18.9Notavailable-36.9-14.6LargestRecentFive-YearRealStockPriceIndexDecreases各国股市最大五年跌幅1.2.3.4.5.6.7.8.9.1011.12.13.14.15.16.17.18.19.20.21.22.23.24.25CountryPercentagedecreaseFive-yearperiodPriceChangeoversubsequentfive-yearperiod(percent)SpainJamaicaVenezuelaThailandPhilippinesItalyPakistanNorwayJamaicaPhilippinesIndiaUnitedKingdomSouthAfricaColombiaColombiaChilePhilippinesFinlandKoreaPortugalJamaicaKoreaItalyFranceItaly-86.6-85.5-84.9-84.0-83.1-80.7-78.3-77.1-76.9-76.6-74.6-73.5-73.4-73.3-72.7-72.6-72.7-71.3-68.3-67.9-64.2-63.6-62.6-62.5-62.3Dec.1974-Dec.1979July1973-July1978May1977-May1982Jan.1994-Jan.1999Feb.1980-Feb.1985June1973-June1978Feb.1994-Feb.1999July1973-July1978Jan.1993-Jan.1998Sept.1969-Sept.1974Aug.1962-Aug.1967Dec.1969-Dec.1974Apr.1981-Apr.1986July1971-July1976July1979-July1984June1980-June1985Apr.1976-Apr.1981Oct.1973-Oct.1978June1993-June1998Jan.1988-Jan.1993Nov.1969-Nov.1974Aug.1978-Aug.1983Jan.1970-Jan.1975Jan.1973-Jan.1978Sept.1960-Sept.19650.1185.2138.9Notavailable1,000.072.6Notavailable74.1Notavailable-40.70.781.516.6-24.836.9587.924.499.0Notavailable222.6-68.9375.0-46.15.7-0.5TheTop100EconomiesandMNEs,1998(2-1)全球前100名经济实体与跨国公司Rankcountry/CompanyUS$billionsRankcountry/CompanyUS$billions1.2.3.4.5.6.7.8.9.1011.12.13.14.15.16.17.18.19.20.21.22.23.24.25.UnitedStatesJapanGermanyFranceUnitedKingdomItalyChinaBrazilCanadaSpainIndiaNetherlandsMexicoAustraliaKorea,RepublicofRussiaArgentinaSwitzerlandBelgiumSwedenAustriaTurkeyDenmarkGeneralMotorsHongKong7,921.34,089.92,122.71,466.21,263.81,166.2928.9758.0612.2553.7421