{"title":"一带一路 \"沿线股票市场的相关性分析:广义复杂网络方法","authors":"Lu Xunfa, Jingjing Sun, Zhengjun Zhang","doi":"10.24818/18423264/58.1.24.16","DOIUrl":null,"url":null,"abstract":". This study investigates the correlations between stock market indices in representative countries or regions along the Belt and Road using a generalised complex network based on the maximum information coefficient. Also, the dynamic correlation characteristics of the focused stock market indices are analysed utilising the minimum spanning tree. Firstly, the results show that, since the introduction of the Belt and Road policy, the Chinese stock market has emerged as the center of the stock index networks, establishing stronger associations with the stock indices of other countries or regions. Secondly, throughout all sub-sample periods, especially before the policy was put forward, the stock index networks of the stock market indices of representative countries or regions along the Belt and Road generally exhibit aggregation patterns of regional geography in the mass. Thirdly, the correlation between these stock market indices is significantly strengthened during extreme shocks. Finally, since 2015, with the progressive deepening of investment and trade between China and other countries or regions along the Belt and Road, the degree of relationship between these stock market indices under discussion has been undergoing changes.","PeriodicalId":51029,"journal":{"name":"Economic Computation and Economic Cybernetics Studies and Research","volume":null,"pages":null},"PeriodicalIF":1.4000,"publicationDate":"2024-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Correlation Analysis of Stock Markets Along the Belt and Road: A Generalised Complex Network Approach\",\"authors\":\"Lu Xunfa, Jingjing Sun, Zhengjun Zhang\",\"doi\":\"10.24818/18423264/58.1.24.16\",\"DOIUrl\":null,\"url\":null,\"abstract\":\". This study investigates the correlations between stock market indices in representative countries or regions along the Belt and Road using a generalised complex network based on the maximum information coefficient. Also, the dynamic correlation characteristics of the focused stock market indices are analysed utilising the minimum spanning tree. Firstly, the results show that, since the introduction of the Belt and Road policy, the Chinese stock market has emerged as the center of the stock index networks, establishing stronger associations with the stock indices of other countries or regions. Secondly, throughout all sub-sample periods, especially before the policy was put forward, the stock index networks of the stock market indices of representative countries or regions along the Belt and Road generally exhibit aggregation patterns of regional geography in the mass. Thirdly, the correlation between these stock market indices is significantly strengthened during extreme shocks. Finally, since 2015, with the progressive deepening of investment and trade between China and other countries or regions along the Belt and Road, the degree of relationship between these stock market indices under discussion has been undergoing changes.\",\"PeriodicalId\":51029,\"journal\":{\"name\":\"Economic Computation and Economic Cybernetics Studies and Research\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.4000,\"publicationDate\":\"2024-03-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economic Computation and Economic Cybernetics Studies and Research\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.24818/18423264/58.1.24.16\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Computation and Economic Cybernetics Studies and Research","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.24818/18423264/58.1.24.16","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
Correlation Analysis of Stock Markets Along the Belt and Road: A Generalised Complex Network Approach
. This study investigates the correlations between stock market indices in representative countries or regions along the Belt and Road using a generalised complex network based on the maximum information coefficient. Also, the dynamic correlation characteristics of the focused stock market indices are analysed utilising the minimum spanning tree. Firstly, the results show that, since the introduction of the Belt and Road policy, the Chinese stock market has emerged as the center of the stock index networks, establishing stronger associations with the stock indices of other countries or regions. Secondly, throughout all sub-sample periods, especially before the policy was put forward, the stock index networks of the stock market indices of representative countries or regions along the Belt and Road generally exhibit aggregation patterns of regional geography in the mass. Thirdly, the correlation between these stock market indices is significantly strengthened during extreme shocks. Finally, since 2015, with the progressive deepening of investment and trade between China and other countries or regions along the Belt and Road, the degree of relationship between these stock market indices under discussion has been undergoing changes.
期刊介绍:
ECECSR is a refereed journal dedicated to publication of original articles in the fields of economic mathematical modeling, operations research, microeconomics, macroeconomics, mathematical programming, statistical analysis, game theory, artificial intelligence, and other topics from theoretical development to research on applied economic problems.
Published by the Academy of Economic Studies in Bucharest, it is the leading journal in the field of economic modeling from Romania.