Relationships between capital flow and economic growth: A network analysis

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In a network analysis, we analyzed the complex structure of cross-border capital flow across 65 countries from 2002 to 2018 to determine how patterns of capital flow in the global capital network affected economic growth. The results show that countries with large GDPs and offshore financial centers were major nodes with great influence on the global capital network. In addition, considerable growth was observed in the economies of neighboring countries that actively traded capital with the major nodes in the network. However, during the financial crisis, active cross-border trading became a channel of contagious insolvent capital, resulting in a sharp drop in the global economy.
Publisher
ELSEVIER
Issue Date
2021-05
Language
English
Article Type
Article
Citation

JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY, v.72, pp.101345

ISSN
1042-4431
DOI
10.1016/j.intfin.2021.101345
URI
http://hdl.handle.net/10203/285802
Appears in Collection
RIMS Journal Papers
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