Minoiu, Camelia; Reyes, Javier A. - In: Journal of Financial Stability 9 (2013) 2, pp. 168-184
We analyze the global banking network using data on cross-border banking flows for 184 countries during 1978–2010. We find that the density of the global banking network defined by these flows is pro-cyclical, expanding and contracting with the global cycle of capital flows. We also find that...