Sovereign public debt crisis in Europe: A network analysis

Autores
Matesanz Gómez, David; Ortega, Guillermo José
Año de publicación
2015
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
In this paper we analyse the evolving network structure of the quarterly public debt-to-GDP ratio from 2000 to 2014. By applying tools and concepts coming from complex systems we study the effects of the global financial crisis over public debt network connections and communities. Two main results arise from this analysis: firstly, countries public debts tend to synchronize their evolution, increasing global connectivity in the network and dramatically decreasing the number of communities. Secondly, a disruption in previous structure is observed at the time of the shock, emerging a more centralized and less diversify network topological organization which might be more prone to suffer contagion effects. This last fact is evidenced by an increasing tendency in countries of similar level of public debt to be connected between them, which we have quantified by the network assortativity.
Fil: Matesanz Gómez, David. Universidad de Oviedo. Facultad de Ciencias Económicas y Empresariales. Departamento de Economía Aplicada; España
Fil: Ortega, Guillermo José. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Materia
European Debt Crisis
Network Stability
Communities
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/41559
Acceder
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oai_identifier_str oai:ri.conicet.gov.ar:11336/41559
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network_name_str CONICET Digital (CONICET)
spelling Sovereign public debt crisis in Europe: A network analysisMatesanz Gómez, DavidOrtega, Guillermo JoséEuropean Debt CrisisNetwork StabilityCommunitieshttps://purl.org/becyt/ford/1.3https://purl.org/becyt/ford/1In this paper we analyse the evolving network structure of the quarterly public debt-to-GDP ratio from 2000 to 2014. By applying tools and concepts coming from complex systems we study the effects of the global financial crisis over public debt network connections and communities. Two main results arise from this analysis: firstly, countries public debts tend to synchronize their evolution, increasing global connectivity in the network and dramatically decreasing the number of communities. Secondly, a disruption in previous structure is observed at the time of the shock, emerging a more centralized and less diversify network topological organization which might be more prone to suffer contagion effects. This last fact is evidenced by an increasing tendency in countries of similar level of public debt to be connected between them, which we have quantified by the network assortativity.Fil: Matesanz Gómez, David. Universidad de Oviedo. Facultad de Ciencias Económicas y Empresariales. Departamento de Economía Aplicada; EspañaFil: Ortega, Guillermo José. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaElsevier Science2015-05info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/41559Matesanz Gómez, David; Ortega, Guillermo José; Sovereign public debt crisis in Europe: A network analysis; Elsevier Science; Physica A: Statistical Mechanics and its Applications; 436; 5-2015; 756-7660378-4371CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/doi/10.1016/j.physa.2015.05.052info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S0378437115004677info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-03T10:11:33Zoai:ri.conicet.gov.ar:11336/41559instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-03 10:11:33.307CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Sovereign public debt crisis in Europe: A network analysis
title Sovereign public debt crisis in Europe: A network analysis
spellingShingle Sovereign public debt crisis in Europe: A network analysis
Matesanz Gómez, David
European Debt Crisis
Network Stability
Communities
title_short Sovereign public debt crisis in Europe: A network analysis
title_full Sovereign public debt crisis in Europe: A network analysis
title_fullStr Sovereign public debt crisis in Europe: A network analysis
title_full_unstemmed Sovereign public debt crisis in Europe: A network analysis
title_sort Sovereign public debt crisis in Europe: A network analysis
dc.creator.none.fl_str_mv Matesanz Gómez, David
Ortega, Guillermo José
author Matesanz Gómez, David
author_facet Matesanz Gómez, David
Ortega, Guillermo José
author_role author
author2 Ortega, Guillermo José
author2_role author
dc.subject.none.fl_str_mv European Debt Crisis
Network Stability
Communities
topic European Debt Crisis
Network Stability
Communities
purl_subject.fl_str_mv https://purl.org/becyt/ford/1.3
https://purl.org/becyt/ford/1
dc.description.none.fl_txt_mv In this paper we analyse the evolving network structure of the quarterly public debt-to-GDP ratio from 2000 to 2014. By applying tools and concepts coming from complex systems we study the effects of the global financial crisis over public debt network connections and communities. Two main results arise from this analysis: firstly, countries public debts tend to synchronize their evolution, increasing global connectivity in the network and dramatically decreasing the number of communities. Secondly, a disruption in previous structure is observed at the time of the shock, emerging a more centralized and less diversify network topological organization which might be more prone to suffer contagion effects. This last fact is evidenced by an increasing tendency in countries of similar level of public debt to be connected between them, which we have quantified by the network assortativity.
Fil: Matesanz Gómez, David. Universidad de Oviedo. Facultad de Ciencias Económicas y Empresariales. Departamento de Economía Aplicada; España
Fil: Ortega, Guillermo José. Universidad Nacional de Quilmes. Departamento de Ciencia y Tecnología; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
description In this paper we analyse the evolving network structure of the quarterly public debt-to-GDP ratio from 2000 to 2014. By applying tools and concepts coming from complex systems we study the effects of the global financial crisis over public debt network connections and communities. Two main results arise from this analysis: firstly, countries public debts tend to synchronize their evolution, increasing global connectivity in the network and dramatically decreasing the number of communities. Secondly, a disruption in previous structure is observed at the time of the shock, emerging a more centralized and less diversify network topological organization which might be more prone to suffer contagion effects. This last fact is evidenced by an increasing tendency in countries of similar level of public debt to be connected between them, which we have quantified by the network assortativity.
publishDate 2015
dc.date.none.fl_str_mv 2015-05
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/41559
Matesanz Gómez, David; Ortega, Guillermo José; Sovereign public debt crisis in Europe: A network analysis; Elsevier Science; Physica A: Statistical Mechanics and its Applications; 436; 5-2015; 756-766
0378-4371
CONICET Digital
CONICET
url http://hdl.handle.net/11336/41559
identifier_str_mv Matesanz Gómez, David; Ortega, Guillermo José; Sovereign public debt crisis in Europe: A network analysis; Elsevier Science; Physica A: Statistical Mechanics and its Applications; 436; 5-2015; 756-766
0378-4371
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/doi/10.1016/j.physa.2015.05.052
info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S0378437115004677
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Elsevier Science
publisher.none.fl_str_mv Elsevier Science
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
_version_ 1842270162531647488
score 13.13397

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