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Network Centrality and Key Economic Indicators: A Case Study

In: Network Models in Economics and Finance

Author

Listed:
  • Andreas Joseph

    (City University of Hong Kong)

  • Guanrong Chen

    (City University of Hong Kong)

Abstract

We investigate the relations between radial and medial network centrality measures in different types of cross-border portfolio investment networks and macroeconomic indicators related to the financial conditions of central governments for most OECD (Organisation for Economic Co-operation and Development) countries during 2001–2011, where we consider the level of central government debt as percentage of national GDP (Gross Domestic Product) and the interest rates on long-term government bonds. Using methodology from the Composite Centrality framework for proper measure standardisation and comparison, we observe rich patterns of correlations for the majority of countries. This provides additional insights into topics such as the coupling of interest rates, observed during the European Debt Crisis 2009–2012, and points to underlying conflicts of interest on a national or international level, which may be taken into account when it comes to monetary and economic policy actions.

Suggested Citation

  • Andreas Joseph & Guanrong Chen, 2014. "Network Centrality and Key Economic Indicators: A Case Study," Springer Optimization and Its Applications, in: Valery A. Kalyagin & Panos M. Pardalos & Themistocles M. Rassias (ed.), Network Models in Economics and Finance, edition 127, pages 159-180, Springer.
    • Handle: RePEc:spr:spochp:978-3-319-09683-4_9
    DOI: 10.1007/978-3-319-09683-4_9
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