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Erschienen in:
Measuring Global Flow of Funds: Statistical Framework, Data Sources, and Approaches Kapitel lesen Erstes Kapitel lesen

2024 | OriginalPaper | Buchkapitel

2. Global Flow of Funds as a Network: Cross-Border Investment in G20

verfasst von : Nan Zhang, Yiye Zhang

Erschienen in: Global Flow of Funds Analysis

Verlag: Springer Nature Singapore

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Abstract

This study measures global financial stability by constructing a global flow of funds (GFF) matrix model based on its inherent market mechanisms. We discuss the basic concept of GFF, integrate the data sources, establish a GFF statistical matrix, which can be used to evaluate the financial risks and influences among its members, and estimate bilateral exposures between countries for three different financial instruments within and across the G20 economies. Then, we use financial network analysis to construct the financial relationships between countries. Moreover, we employ the network theory to discuss an analytical method for the GFF and use countries in the G20 as the research sample to discuss the network centrality, mutual relationships, and the financial risk of foreign direct investment, portfolio investment, and cross-border bank credit among the United States, Japan, and China. This study establishes a GFF statistical matrix and introduces the network theory into the GFF analysis, which opens a new field for measuring and applying GFF.

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Vorheriges Kapitel Measuring Global Flow of Funds: Statistical Framework, Data Sources, and Approaches
Nächstes Kapitel Structural Changes in China–US External Flow of Funds: Statistical Estimates Based on the VEC Model
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Fußnoten
1
. ECB website for journalists: www.​euro-area-statistics.​org.
 
2
It was Rasmussen (1956) who invented the dispersion indices for the input–output analysis. While the PDI is the mean-normalized column sum, the SDI is the mean-normalized row sum of the Leontief inverse.
 
3
The term “mirror” refers to the same data seen from different perspectives. For instance, banks' loans to households could be called mirror data of household debt to banks.
 
4
IMF (2013), Balance of Payments Manual, 6th edition (BPM6), p. 111.
 
6
Such as Table 6-o: Outward Direct Investment Positions by All Reporting Economies Cross-classified by Counterpart Economies, which from CDIS, IMF.
 
7
Such as Table 11: Geographic Breakdown of Total Portfolio Investment Assets: Total Portfolio Investment, which from CPIS, IMF.
 
9
See Tsujimura and Tsujimura (2018, 161–162).
 
11
OE is others economies.
 
13
In 2022, we mainly selected 24 countries from the G-20.
 
14
Setting the “columns” of the matrix as assets or liabilities that depends on the purpose of the study. Please refer to the part of Data sources from BIS which written in the Sect. 2.2.2.
 
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Metadaten
Titel
Global Flow of Funds as a Network: Cross-Border Investment in G20
verfasst von
Nan Zhang
Yiye Zhang
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
Buch
Global Flow of Funds Analysis

Print ISBN: 978-981-9710-28-7

Electronic ISBN: 978-981-9710-29-4

Copyright-Jahr: 2024

DOI
https://doi.org/10.1007/978-981-97-1029-4_2