Journal
IEEE TRANSACTIONS ON CIRCUITS AND SYSTEMS I-REGULAR PAPERS
Volume 69, Issue 10, Pages 4103-4116Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TCSI.2022.3187694
Keywords
Couplings; Complex networks; Biological system modeling; Banking; Entropy; Analytical models; Urban areas; Financial networks; maximum entropy approach; multi-layer networks; risk contagion; spillover effects
Categories
Funding
- National Natural Science Foundation of China [62141604, 61621003]
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In the context of global integration, the theory of financial complex networks has made significant contributions to the establishment of stable financial systems and effective regulatory systems. This survey paper presents a systematic methodology for the multi-layer financial complex networks and their applications. It summarizes several typical financial networks in existing research and identifies financial risk contagion and spillover effects as the core issues that most literature focuses on. Finally, it reviews the shortcomings of the existing literature and suggests future research directions in this area.
In the context of global integration, the theory of financial complex networks has made significant contributions to the establishment of stable financial systems and effective regulatory systems. This survey paper presents a systematic methodology for the multi-layer financial complex networks and their applications. Several typical financial networks in existing research are first summarized: the interbank network, the credit network, the international trade network, and the dealer network. The main methods used in the existing literature to analyze the structure of financial networks include maximum entropy methods, network characterization, community detection, and dynamic multi-layer network. Financial risk contagion as well as spillover effects are the core issues that most of the literature focuses on. Finally, this paper reviews the shortcomings of the existing literature and suggests future research directions in this area.
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