The Co-Evolution and Emergence of Integrated International Financial Networks and Social Networks: Theory, Analysis, and Computations

Abstract

Globalization and technological advances have made major impacts on financial services in recent years and have allowed for the emergence of electronic finance. Indeed, the financial landscape has been transformed through increased financial integration, increased cross border mergers, and lower barriers between markets. In addition, boundaries between different financial intermediaries have become less clear (cf. Claessens, Glaessner, and Klingebiel (2000, 2001), Claessens (2003), Claessens et al. (2003), G-10 (2001)).