Global financial network and liquidity risk-Reference-Cited by-同舟云学术

Global financial network and liquidity risk

Published:2018-07-24 Issue:4 Volume:43 Page:593-613
ISSN:0312-8962
Container-title:Australian Journal of Management
language:en
Short-container-title:Australian Journal of Management

Author:

Inekwe John Nkwoma¹^ORCID,Jin Yi²,Valenzuela Maria Rebecca³

Affiliation:

1. Centre for Financial Risk, Macquarie University, Sydney, NSW, Australia

2. Southwestern University of Finance and Economics, Chengdu, China

3. Department of Economics, Monash University, Melbourne, VIC, Australia

Abstract

This article investigates the impact of global financial integration on liquidity risk. Using the network approach and bank-level data for 95 countries, we find weak asymmetry in the relationship between net stable funding and financial connectedness. Our results suggest that the degree of connectedness between banks is inversely related to funding stability. We also find that banks that are strongly connected to important lenders take on more risks relative to those that have independent access to finance in the financial network. Our results are consistent and invariant when either internal or external instruments are used to resolve econometric issues. JEL Classification: F21, F34, F36, G15, G33

Publisher

SAGE Publications

Subject

General Business, Management and Accounting

Link

http://journals.sagepub.com/doi/pdf/10.1177/0312896218766219

Reference50 articles.

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