The Changing Network of Financial Market Linkages: The Asian Experience
Mohammad Abu Sayeed and
Working Papers from eSocialSciences
The paper investigates the changing network of financial markets for six periods from 1995â€“2016, constructing a network that captures the concepts of 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 1997â€“1998 and the global financial crisis of 2008â€“2009. The analysis demonstrates the increase in interconnectedness during periods of stress and the fall in the number of links in postcrisis periods. At the same time, the results reveal a general deepening of the connections of the Asian market with the rest of the world over the past 2 decades. They also suggest that many of these markets have transitioned from being primarily linked to developed non-Asian markets through key bridge markets (such as Hong Kong, China) to developing stronger direct links with these external markets, highlighting the importance of key geographical nodes in market development.
Keywords: eSS; Asian markets; financial crises; network; financial markets; Asian financial crisis; Network links; involvement of nodes; spreaders; absorbers; Association of Southeast Asian Nations Markets. (search for similar items in EconPapers)
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Journal Article: The changing network of financial market linkages: The Asian experience (2019)
Working Paper: The Changing Network of Financial Market Linkages: The Asian Experience (2018)
Working Paper: The changing network of financial market linkages: the Asian experience (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:12924
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