Financial Crisis and Global Governance : A Network Analysis

Sheng, Andrew

World Bank, Washington, DC

关键词: ACCESS TO INFORMATION;    ACCOUNTING;    ACCOUNTING STANDARDS;    ARBITRAGE;    ASSET BACKED SECURITIES;   

RP-ID  :  57766

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper attempts to use networktheory, drawn from recent work in sociology, engineering,and biological systems, to suggest that the current crisisshould be viewed as a network crisis. The author surveys theconcepts of networks, their defining characteristics,applications to financial markets, and the need forsupervision and implications for national and globalgovernance. Then, author briefly examines the currentfinancial crisis in the light of the network analysis andsurveys the recent reforms in financial regulation andarchitecture. The paper concludes with an analysis of thepolicy implications of network analysis.