TY - JOUR

T1 - Understanding the world economy in terms of networks: A survey of data-based network science approaches on economic networks

AU - Emmert-Streib, Frank

AU - Tripathi, Shailesh

AU - Yli-Harja, Olli

AU - Dehmer, Matthias

N1 - Publisher Copyright:
© Copyright © 2018 Emmert-Streib, Tripathi, Yli-Harja and Dehmer.

PY - 2018/8/28

Y1 - 2018/8/28

N2 - The purpose of this paper is to survey studies for estimating and analyzing different types of economic networks We focus on data-based approaches that allow the direct estimation of the networks from empirical data without the need of relying on theoretical assumptions. Due to the fact that there is a large variety of different economic networks, e.g., interbank, investment, director, ownership, financial, product or trade networks, we present a systematic categorization of these by the meaning of the “nodes” within these networks. These can correspond to banks, firms, investors, products, stocks etc. Furthermore, we review practical methods for graphically exploring such networks and discuss useful databases for obtaining the empirical data for the computational construction of economic networks.

AB - The purpose of this paper is to survey studies for estimating and analyzing different types of economic networks We focus on data-based approaches that allow the direct estimation of the networks from empirical data without the need of relying on theoretical assumptions. Due to the fact that there is a large variety of different economic networks, e.g., interbank, investment, director, ownership, financial, product or trade networks, we present a systematic categorization of these by the meaning of the “nodes” within these networks. These can correspond to banks, firms, investors, products, stocks etc. Furthermore, we review practical methods for graphically exploring such networks and discuss useful databases for obtaining the empirical data for the computational construction of economic networks.

KW - computational finance

KW - computational social science

KW - data science

KW - econometrics

KW - economic networks

KW - economics

KW - network science

KW - social networks

UR - http://www.scopus.com/inward/record.url?scp=85097310909&partnerID=8YFLogxK

U2 - 10.3389/fams.2018.00037

DO - 10.3389/fams.2018.00037

M3 - Review article

VL - 4

JO - Frontiers in Applied Mathematics and Statistics-Mathematical Finance

JF - Frontiers in Applied Mathematics and Statistics-Mathematical Finance

M1 - 37

ER -