We investigate the effect of portfolio diversification on banking systemic risk, where the network effect is incorporated. We analyze three kinds of interbank networks, namely, random networks, small-world networks and scale-free networks. We show that the effect of portfolio diversification on...

Due to sectoral interactions in the economy, the overall green efficiency (GE) of China’s industrial system relies heavily on fundamental sectors that contribute substantial energy to the supply chain production of other sectors but shows low sectoral GE. For the three fundamental sectors in...