Characteristics of Asian Cross-Border Credit Network and Its Influencing Factors:Changing Positions of Chinese and Japanese Banking
Based on cross-border credit data of the banking sectors of 14 Asian economies from 2016 to 2021 released by the Bank for International Settlements,the credit linkages between the banking sectors are measured by constructing Euclidean distances,and the Asian regional cross-border credit network is constructed to analyze the dynamic characteristics and driving factors of the network structure.The results show that from 2016 to 2020,the cross-border credit network structure in Asia presented the characteristics of high density and high clustering coefficient.China,Hong Kong of China,Japan and Singapore were the core of the network,while peripheral economies tended to converge to the core.But because of the COVID-19 pandemic,the network clustering coefficient slightly declined in 2021.Chinese banking industry played an increasingly important role as a lender of funds in the network,and showed the closest links with the banking of Türkiye,Australia and India,but fewer links with that of Hong Kong,Macao and Taiwan of China than expected.Japanese banking has been a vital lender in Asia,with close links to the banking of Hong Kong,Macao and Taiwan of China and Singapore In addition,the banking of Singapore,Australia and Bahrain played a significant bridging role in the network The QAP regression analysis shows that smaller differences in financial development and governance levels are more likely to contribute to the formation of cross-border credit linkages among Asian economies.This paper provides policy enlightenment for developing the cross-border credit business of Chinese banking and promoting regional financial integration in Asia.
cross-border bankscross-border credit networkfinancial risknetwork analysis methodcross-border claims and debts
NETL
NSTL
万方数据
