Financial Flows Centrality: Empirical Evidence using Bilateral Capital Flows | Zendy

Rogelio Mercado | Zendy; Shanty Noviantie | Zendy

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Financial Flows Centrality: Empirical Evidence using Bilateral Capital Flows

Author(s) -

Rogelio Mercado,

Shanty Noviantie

Publication year - 2019

Publication title -

ssrn electronic journal

Language(s) - English

Resource type - Journals

ISSN - 1556-5068

DOI - 10.2139/ssrn.3501442

Subject(s) - centrality , capital flows , business , empirical evidence , finance , financial capital , economics , financial economics , financial system , microeconomics , market economy , human capital , profit (economics) , mathematics , combinatorics , philosophy , epistemology

This paper uses a dataset on bilateral capital flows to construct a financial centrality measure for 64 advanced and emerging economies from 2000-16 to capture an economy’s importance within the global financial flows network. The results highlight the varying significance of network systemic and idiosyncratic factors in explaining financial centrality across different types of investments and residency of investors. Most notably, the findings show that financial centres have deeper and more developed financial system, implying their importance in global financial intermediation.

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