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Systemic risk and macro-financial contagion in China: financial balance sheet-based network analysis.
- Source :
- Journal of the Asia Pacific Economy; Aug2023, Vol. 28 Issue 3, p1140-1173, 34p
- Publication Year :
- 2023
-
Abstract
- In this paper, first, using a dataset for China's financial balance sheets we construct the sector-level macro-financial networks. Second, we analyse the statistical features and the dynamic changes of our macro-financial networks. Third, we conduct financial contagion simulations to identify the specific prominent sectors that can generate potential system-wide losses, and measure the resiliencies of different sectors to sector-specific financial shocks. The results uncover certain crucial propagation and contagion mechanisms of systemic risk in China's macro-financial system. In addition, we find that the statistical features of the networks are closely associated with the losses incurred under the inter-sectoral financial contagion. [ABSTRACT FROM AUTHOR]
- Subjects :
- SYSTEMIC risk (Finance)
FINANCIAL statements
ECONOMIC conditions in China
Subjects
Details
- Language :
- English
- ISSN :
- 13547860
- Volume :
- 28
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Journal of the Asia Pacific Economy
- Publication Type :
- Academic Journal
- Accession number :
- 164226463
- Full Text :
- https://doi.org/10.1080/13547860.2021.1928407