Description
Title: Crisis-related Changes in Transaction Network Structure: Macro and Micro Perspectives
Abstract: A unique role of the highly interconnected financial entities was demonstrated in 2008 by the bankruptcy of Lehman Brothers, which was brought on by the global financial crisis. A bank’s shock could result in losses, spillovers, a contagion shock that affects other entities, the collapse of the entire banking system, and ultimately instability in the global economy. As a result, assessing financial stability via a system-wide network approach yields more accurate information than assessing a bank individually. This method forms a network topology by modeling individual banks’ transaction activities within a transaction network. Financial shocks are typically discovered using a variety of macro procedures, including unchecked transaction deficits and outstanding external debt. By examining the impact of disruption on transaction network structure, this study proposes financial shock detection from both a macro and micro perspective. Due to the current crisis, we examine the most dynamic triadic motif as a crisis predictor from a micro perspective. The case study is the structural change in Indonesia’s transaction network during the 2008 financial crisis, where observations were made from the pre-crisis to the post-crisis periods. We identified a motif that serves as an underlying predictor of financial crises: significant changes. The stability control of the financial system is supported by this scenario.
Keywords: transaction network; network structure; network topology; network motifs; financial crisis
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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