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The Convergence Evolution in Europe from a Complex Networks Perspective.
- Source :
- Journal of Risk & Financial Management; Oct2022, Vol. 15 Issue 10, p457-N.PAG, 14p
- Publication Year :
- 2022
-
Abstract
- The evolution of the convergence among the European countries, including both Eurozone as well as non-Eurozone economies, is investigated in this paper. To do so, we construct correlation-based networks and study them by employing the Threshold Weighted-Minimum Dominating Set (TW–MDS) algorithm and analyzing standard quantitative performance graph theory metrics. Each country is represented by a network node, while the edges represent the cross-correlations calculated for a specific macroeconomic variable, for a given time window. To study the intertemporal evolution of the network's interconnections, we examine its structure in three consecutive time intervals: 1999–2004, 2005–2010 and 2011–2019. The empirical findings provide a mixed pattern. The European countries exhibit a common behavior over time for some macroeconomic variables, but not for all of them. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 19118066
- Volume :
- 15
- Issue :
- 10
- Database :
- Complementary Index
- Journal :
- Journal of Risk & Financial Management
- Publication Type :
- Academic Journal
- Accession number :
- 159913813
- Full Text :
- https://doi.org/10.3390/jrfm15100457