The network of international capital markets is modeled as a global communications network, where information flows in one channel and funds flow in the other. Based on the fundamental logic of the measurement of information (Reza 1992) and on the standard assumptions of the Capital Asset...

In a systemic perspective, what are the primary transmitters of global competitiveness with the proper coordination mechanism? What are the systemic impacts of the US economy on world markets? Is global economic stability a public good? To address these questions, the paper surveys some key...