A Global Flow of Funds Perspective on Debt, Assets, and Imbalances

Nan Zhang () and Yiye Zhang ()
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Nan Zhang: Hiroshima Shudo University
Yiye Zhang: Cornell University

Chapter Chapter 4 in Global Flow of Funds Analysis, 2024, pp 179-233 from Springer

Abstract: Abstract This chapter establishes an analytical framework for examining the global flow of funds (GFF); expanding on the concept, research object, and analytical method for comprehending GFF. The structural changes of the G20, especially China–United States (US) decoupling, are examined alongside the possibility of a debt crisis using stock data to analyze the GFF matrix (GFFM) from 2018 to 2022. The financial network is used to analyze the basic characteristics and risks in the debt market between China (CN) and the US. Finally, CN’s and the US’ debt securities (DS) market positions and mutual financing relationships are analyzed using financial network technology. It also statistically estimates the impact of debt risk transmission. The issues of China–US are also observed in external financial assets and liabilities by stock data. By compiling the GFFM and using the financial network, we measure the risk exposure changes between CN and US external assets and liabilities, centrality, asset influence and liability sensitivity, and debt risk.

Keywords: Balance sheet; Who-to-whom matrix; Financial network; Debt crisis; Shock dynamics (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-1029-4_4

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DOI: 10.1007/978-981-97-1029-4_4

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