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A network analysis of global banking:1978-2009

Author/Editor: Minoiu, Camelia | Reyes, Javier A.
Authorized for Distribution: April 1, 2011
Electronic Access: Free Full Text (PDF file size is 4,156KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: In this paper we explore the properties of the global banking network using cross-border bank lending data for 184 countries over 1978-2009. Specifically, we analyze financial interconnectedness using network metrics of centrality, connectivity, and clustering. We document a relatively unstable global banking network, with structural breaks in network indicators identifying several waves of capital flows. Interconnectedness rankings, especially for borrowers, are relatively volatile over the period. Connectivity tends to fall during and after systemic banking crises and sovereign debt crises. The 2008-09 global financial crisis stands out as an unusually large perturbation to the cross-border banking network.
 
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Series: Working Paper No. 11/74
Subject(s): Banking crisis | Capital flows | Cross country analysis | Emerging markets | Financial crisis | International banking
Author's keyword(s): cross-border bank lending | network analysis | interconnectedness | financial crises | systemic risk
 
English  
    Published:   April 1, 2011        
            Format:   Paper
    Stock No:   WPIEA2011074   Pages:   41
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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