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A network analysis on country and financial center attractiveness: Evidence from Asian economies, 2001–2018

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  • Miyakoshi, Tatsuyoshi
  • Shimada, Junji
  • Li, Kui-Wai

Abstract

By using a network analysis that incorporates both quantity and quality assessments, this paper investigates the two factors of country and financial brokerage center for investment attractiveness as the dynamic forces of development among Asian economies. The sample period of 2001–2018 is important for Asian economies as the region experienced the aftermath of the 1997 Asian financial crisis and the devastating 2008 global financial meltdown. The study developed an attractiveness index, investigated its underlying determinants, and diagnosed both country and financial attractiveness, which are then applied to the Asian economies. The empirical findings show that Asia's intra-regional attractiveness can also be used to explain their economic success.

Suggested Citation

  • Miyakoshi, Tatsuyoshi & Shimada, Junji & Li, Kui-Wai, 2023. "A network analysis on country and financial center attractiveness: Evidence from Asian economies, 2001–2018," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 418-432.
    • Handle: RePEc:eee:reveco:v:87:y:2023:i:c:p:418-432
    DOI: 10.1016/j.iref.2023.04.011
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    More about this item

    Keywords

    Network analysis; Asian financial markets; Indexes of attractive countries and financial centers; Determinants in attractiveness;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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