EconPapers    
Economics at your fingertips  
 

The changing network of financial market linkages: The Asian experience

Biplob Chowdhury, Mardi Dungey, Moses Kangogo, Mohammad Abu Sayeed and Vladimir Volkov

International Review of Financial Analysis, 2019, vol. 64, issue C, 71-92

Abstract: We investigate the changing integration of Asian financial markets within the global financial network from 1995 to 2016, incorporating the direction of links between markets, the significance of these links, and their strength. Emphasis is placed on the transition of the networks before and after the Asian financial crisis of 1997–1998 and the global financial crisis of 2008–2009. The results reveal a general deepening of the connections of the Asian market with the rest of the world over the past two decades. The analysis demonstrates the increase in interconnectedness during periods of stress and the fall in the number of links in post-crisis periods. Moreover, many of these markets have transitioned from being primarily linked to the global markets via key bridge markets (such as Hong Kong) and over time developed stronger direct links with external markets. These findings highlight the potential importance of key geographical nodes in allowing emerging markets access to the international financial network.

Keywords: Network; Financial crises; Asian markets (search for similar items in EconPapers)
JEL-codes: G01 G15 G10 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1057521918307750
Full text for ScienceDirect subscribers only

Related works:
Working Paper: The Changing Network of Financial Market Linkages: The Asian Experience (2018) Downloads
Working Paper: The Changing Network of Financial Market Linkages: The Asian Experience (2018) Downloads
Working Paper: The changing network of financial market linkages: the Asian experience (2018) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:64:y:2019:i:c:p:71-92

DOI: 10.1016/j.irfa.2019.05.003

Access Statistics for this article

International Review of Financial Analysis is currently edited by B.M. Lucey

More articles in International Review of Financial Analysis from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-09-29
Handle: RePEc:eee:finana:v:64:y:2019:i:c:p:71-92