Financial flows centrality: Empirical evidence using bilateral capital flows

Rogelio Mercado and Shanty Noviantie

Journal of International Financial Markets, Institutions and Money, 2020, vol. 69, issue C

Abstract: This paper uses a dataset on bilateral capital flows to construct a financial centrality measure for 64 advanced and emerging economies from 2000 to 2016 to capture an economy’s importance within the global financial flows network. The results underscore the varying significance of global and domestic factors in explaining an economy’s financial centrality as well as its likelihood of becoming a financial centre. The significance of global credit and domestic financial depth suggests the importance of financial regulation and supervision alongside financial deepening and development in safeguarding financial stability of financial centres.

Keywords: Financial centrality; Financial depth; Network analysis (search for similar items in EconPapers)
JEL-codes: D85 F21 F36 G15 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (4)

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Working Paper: Financial Flows Centrality: Empirical Evidence using Bilateral Capital Flows (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:69:y:2020:i:c:s1042443120301396

DOI: 10.1016/j.intfin.2020.101255

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