The relationship between international trade and capital flow: A network perspective

doi:10.1016/j.jimonfin.2018.10.001

CORC > 上海财经大学 > 上海财经大学

	The relationship between international trade and capital flow: A network perspective
	Ding, Haoyuan 1,2; Jin, Yuying 1,2; Liu, Ziyuan 3; Xie, Wenjing 4
刊名	JOURNAL OF INTERNATIONAL MONEY AND FINANCE
	2019-03
卷号	91 页码:1-11
关键词	International trade Capital flow Complex networks Long-run equilibrium Short-run dynamics
ISSN号	0261-5606
DOI	10.1016/j.jimonfin.2018.10.001
英文摘要	The relationship between international trade and capital flow has been extensively discussed. Using bilateral data from 2001 to 2016, we construct international trade and capital flow networks, defined as a weighted graph in which nodes are countries and edges represent trade and capital flow linkages. Centrality is employed as the main variable in this study to represent the importance of a country in the networks. To gain further insight into the network characteristics, we adopt a turning-parameter centrality to combine both the original degree and strength measurements within the weighted network. Moreover, we develop a new indicator called ''partner quality centrality" to identify the quality of neighbors. Within the panel cointegration framework, we argue that a positive long-run equilibrium exists between the trade and capital flow networks as constructed. In addition, we employ a panel causality test to investigate the short-run dynamics, indicating that the international capital flow network has predictive power on the trade network from the short-run perspective but not vice versa. (C) 2018 Published by Elsevier Ltd.
WOS研究方向	Business & Economics
语种	英语
出版者	ELSEVIER SCI LTD
WOS记录号	WOS:000453532000001
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/333]
专题	上海财经大学
通讯作者	Xie, Wenjing
作者单位	1.Shanghai Univ Finance & Econ, Coll Business, Shanghai, Peoples R China; 2.Shanghai Inst Int Finance & Econ, Shanghai, Peoples R China; 3.Shanghai Univ Finance & Econ, Coll Business, 777 Guoding Rd, Shanghai, Peoples R China; 4.Shanghai Int Studies Univ, Sch Econ & Finance, 550 West Dalian Rd, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Ding, Haoyuan,Jin, Yuying,Liu, Ziyuan,et al. The relationship between international trade and capital flow: A network perspective[J]. JOURNAL OF INTERNATIONAL MONEY AND FINANCE,2019,91:1-11.
APA	Ding, Haoyuan,Jin, Yuying,Liu, Ziyuan,&Xie, Wenjing.(2019).The relationship between international trade and capital flow: A network perspective.JOURNAL OF INTERNATIONAL MONEY AND FINANCE,91,1-11.
MLA	Ding, Haoyuan,et al."The relationship between international trade and capital flow: A network perspective".JOURNAL OF INTERNATIONAL MONEY AND FINANCE 91(2019):1-11.