Financial Networks
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Financial Networks
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Author : Anna Nagurney
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Financial Networks written by Anna Nagurney and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Financial analysis is concerned with the study of capital flows over time and space. This book presents a new theory of multi-sector, multi-instrument financial systems based on the visualization of such systems as networks. The framework is both qualitative and computational and depends crucially on the methodologies of finite-dimensional variational inequality theory for the study of statics and equilibrium states and on projected dynamical systems for the study of dynamics and disequilibrium behavior. Moreover, it adds a graphical dimension to the fundamental economic structure of financial systems and their evolution through time.
Networks In Finance
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Author : Franklin Allen
language : en
Publisher:
Release Date : 2011
Networks In Finance written by Franklin Allen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Modern financial systems exhibit a high degree of interdependence. There are different possible sources of connections between financial institutions, stemming from both the asset and the liability side of their balance sheet. For instance, banks are directly connected through mutual exposures acquired on the interbank market. Likewise, holding similar portfolios or sharing the same mass of depositors creates indirect linkages between financial institutions. Broadly understood as a collection of nodes and links between nodes, networks can be a useful representation of financial systems. By providing means to model the specifics of economic interactions, network analysis can better explain certain economic phenomena. In this paper we argue that the use of network theories can enrich our understanding of financial systems. We review the recent developments in financial networks, highlighting the synergies created from applying network theory to answer financial questions. Further, we propose several directions of research. First, we consider the issue of systemic risk. In this context, two questions arise: how resilient financial networks are to contagion, and how financial institutions form connections when exposed to the risk of contagion. The second issue we consider is how network theory can be used to explain freezes in the interbank market of the type we have observed in August 2007 and subsequently. The third issue is how social networks can improve investment decisions and corporate governance. Recent empirical work has provided some interesting results in this regard. The fourth issue concerns the role of networks in distributing primary issues of securities as, for example, in initial public offerings, or seasoned debt and equity issues. Finally, we consider the role of networks as a form of mutual monitoring as in microfinance.
The Network Challenge Chapter 21
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Author : Franklin Allen
language : en
Publisher: Pearson Education
Release Date : 2009-05-19
The Network Challenge Chapter 21 written by Franklin Allen and has been published by Pearson Education this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-19 with Business & Economics categories.
Modern financial systems exhibit a high degree of interdependence, with connections between financial institutions stemming from both the asset and the liability sides of their balance sheets. Networks--broadly understood as a collection of nodes and links between nodes--can be a useful representation of financial systems. By modeling economic interactions, network analysis can better explain certain economic phenomena. In this chapter, Allen and Babus argue that the use of network theories can enrich our understanding of financial systems. They explore several critical issues. First, they address the issue of systemic risk, by studying two questions: how resilient financial networks are to contagion, and how financial institutions form connections when exposed to the risk of contagion. Second, they consider how network theory can be used to explain freezes in the interbank market. Third, they examine how social networks can improve investment decisions and corporate governance, based on recent empirical results. Fourth, they examine the role of networks in distributing primary issues of securities. Finally, they consider the role of networks as a form of mutual monitoring, as in microfinance.
Sticky Power
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Author : Daniel Haberly
language : en
Publisher: Oxford University Press
Release Date : 2022-05-02
Sticky Power written by Daniel Haberly and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-02 with Business & Economics categories.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Although modern civilization revolves around money, the nature of money is paradoxical. It is nothing more than a representation of and medium for decentralized networks of social trust, but its production is controlled by highly centralized networks of firms, places, and governments, and there is never enough of it to go around. Moreover, given that the creation of money, as credit, is based on expectations, money is at its heart an instrument for human agency to change the future. However, the financial systems that produce money are deeply rooted in the past, and perpetuate themselves through history. Sticky Power seeks to deepen our understanding of the paradox of money by introducing a novel conceptual lens, Global Financial Networks, to cast new light on the geography, history, politics, and sociology of finance from the Middle Ages to the global financial crisis and beyond. It shows that the power of finance is inherently sticky: apparently new innovations such as offshore finance actually date back centuries, and global financial networks more broadly have adapted to the rise and fall of empires and the development of new technologies while changing surprisingly little in their basic character, or at most changing very slowly. Haberly and Wójcik argue that a recognition of the mechanics of this durability calls for a new approach to reforming finance—one less reactively focused on regulation, and more proactively focused on building new institutional systems with a long-term sticky power of their own.
Contagion Systemic Risk In Financial Networks
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Author : T. R. Hurd
language : en
Publisher: Springer
Release Date : 2016-05-25
Contagion Systemic Risk In Financial Networks written by T. R. Hurd and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-25 with Mathematics categories.
This volume presents a unified mathematical framework for the transmission channels for damaging shocks that can lead to instability in financial systems. As the title suggests, financial contagion is analogous to the spread of disease, and damaging financial crises may be better understood by bringing to bear ideas from studying other complex systems in our world. After considering how people have viewed financial crises and systemic risk in the past, it delves into the mechanics of the interactions between banking counterparties. It finds a common mathematical structure for types of crises that proceed through cascade mappings that approach a cascade equilibrium. Later chapters follow this theme, starting from the underlying random skeleton graph, developing into the theory of bootstrap percolation, ultimately leading to techniques that can determine the large scale nature of contagious financial cascades.
Implementing Networks In Banking And Financial Services
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Author : Dimitris N Chorafas
language : en
Publisher: Springer
Release Date : 2016-07-27
Implementing Networks In Banking And Financial Services written by Dimitris N Chorafas and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Computers categories.
The objective of this book is to provide banks and the financial industry at large with an analysis of what is and what is not a network at their service. The background to the book is electronic banking, and the foreground brings into perspective what has been done by forward-looking financial industries and the benefits they have achieved. While banking is today an industry, it cannot be satisfactorily compared to other industries as it operates too much by its own rules. Examples in the text have therefore been restricted to banking only and, more precisely, to the four generations of online financial networks which have evolved over the past twenty years in Japan. This book is a study addressed to the management of financial institutions. Computers and communications technologists will also gain from it both insight and foresight.
Evolution Of The Global Financial Network And Contagion A New Approach
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Author : Ms.Yevgeniya Korniyenko
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-15
Evolution Of The Global Financial Network And Contagion A New Approach written by Ms.Yevgeniya Korniyenko and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-15 with Business & Economics categories.
This paper studies the interconnectedness of the global financial system and its susceptibility to shocks. A novel multilayer network framework is applied to link debt and equity exposures across countries. Use of this approach—that examines simultaneously multiple channels of transmission and their important higher order effects—shows that ignoring the heterogeneity of financial exposures, and simply aggregating all claims, as often done in other studies, can underestimate the extent and effects of financial contagion.The structure of the global financial network has changed since the global financial crisis, impacted by European bank’s deleveraging and higher corporate debt issuance. Still, we find that the structure of the system and contagion remain similar in that network is highly susceptible to shocks from central countries and those with large financial systems (e.g., the USA and the UK). While, individual European countries (excluding the UK) have relatively low impact on shock propagation, the network is highly susceptible to the shocks from the entire euro area. Another important development is the rising role of the Asian countries and the noticeable increase in network susceptibility to shocks from China and Hong Kong SAR economies.
Network Theory And Financial Risk
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Author :
language : en
Publisher:
Release Date : 2016
Network Theory And Financial Risk written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Network Theory And Agent Based Modeling In Economics And Finance
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Author : Anindya S. Chakrabarti
language : en
Publisher: Springer Nature
Release Date : 2019-10-23
Network Theory And Agent Based Modeling In Economics And Finance written by Anindya S. Chakrabarti and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-23 with Business & Economics categories.
This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.
Innovations In Financial And Economic Networks
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Author : Anna Nagurney
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003
Innovations In Financial And Economic Networks written by Anna Nagurney and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economics categories.
Networks provide the foundation for the functioning of our societies and economies. Their study has a long tradition in such fields as engineering, operations research, management science and computer science. More recently, the disciplines of finance and economics have to be rich sources of network-based problems and applications. This volume of contributions from international scholars provides a wealth of innovations in the study of financial and economic networks. graph, the evolutions of financial systems as networks, the incorporation of electronic transactions in international finance (from a network perspective), new formalisms for the study of supply chains (as fluid models and in a network economic framwork) and new applications of agent-based computational economics trade network intermediaries and worker-employer networks. Finally, trade networks in web-based caching are introduced. transaction costs, integrated pension and corporate planning, evolutionary financial networks, international finance and electronic transactions as well as hedging instruments for transportation networks. Innovative approaches to economic networks are developed in the context of supply chain distribution networks, a variety of trade (including web-based caching) networks and even worker-employer networks.