Uncovering the global network of economic policy uncertainty

doi:10.1016/j.ribaf.2020.101223

CASISD OpenIR

	Uncovering the global network of economic policy uncertainty
	Marfatia, Hardik; Zhao, Wan-Li; Ji, Qiang
发表期刊	RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
摘要	This study uncovers the static and dynamic network of economic policy uncertainty (EPU) across 17 developed and emerging economies. We build a centrality network using the minimal spanning tree (MST) as well as a dependency network using partial correlations. Results from the MST show that EPU exhibits some degree of geographical connections with EPUs in seven countries in the sample directly linked to the US EPU. Evidence from dynamic time-varying MST reveals that the nature and dominance of the EPU network have changed significantly over time. Further, the US and German EPUs dominate a close-knit global policy uncertainty network with the highest net (To and From) transmitter of information flow in the dependency network. Greece, Russia, and Brazil are the top three net receivers of information in the global network of EPU. The policy implication of these results relates to the renewed and ongoing international debate on policy coordination.
	2020
卷号	53
DOI	10.1016/j.ribaf.2020.101223
语种	英语
引用统计
文献类型	期刊论文
条目标识符	http://ir.casisd.cn/handle/190111/9827
专题	中国科学院科技战略咨询研究院
推荐引用方式 GB/T 7714	Marfatia, Hardik,Zhao, Wan-Li,Ji, Qiang. Uncovering the global network of economic policy uncertainty[J]. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE,2020,53.
APA	Marfatia, Hardik,Zhao, Wan-Li,&Ji, Qiang.(2020).Uncovering the global network of economic policy uncertainty.RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE,53.
MLA	Marfatia, Hardik,et al."Uncovering the global network of economic policy uncertainty".RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE 53(2020).