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What a network measure can tell us about financial interconnectedness and output volatility

Xu, Ying; Corbett, Jenny

Description

This paper applies the PageRank algorithm, often used in network analysis, to capture multidimensional and high-degree, cross-border banking relations among countries. It provides a nuanced picture of financial interconnectedness that has not been available in the literature to date.Our measure, FIRank, shows the probability of connection to the network by any country or, equivalently, the share of all connections captured by each country, and provides relative rankings of countries...[Show more]

CollectionsANU Research Publications
Date published: 2020
Type: Journal article
URI: http://hdl.handle.net/1885/264137
Source: Journal of the Japanese and International Economies
DOI: 10.1016/j.jjie.2020.101105

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