系统性风险
财务风险管理
财务风险
业务
波动性(金融)
金融体系
金融危机
金融市场
市场风险
休克(循环)
经济
金融传染
货币经济学
金融经济学
财务
风险管理
宏观经济学
内科学
医学
作者
Kangsheng Wang,Fenghua Wen,Xu Gong
出处
期刊:Energy
[Elsevier]
日期:2024-02-13
卷期号:293: 130672-130672
被引量:4
标识
DOI:10.1016/j.energy.2024.130672
摘要
The risk associated with the dramatic volatility of oil prices has become an important factor affecting the stability of the financial system. Through a complex network viewpoint, this study uses firm-level data to investigate systemic financial risk contagion from the oil market to the financial markets. Our study considers the risk amplification effect in financial network and provides an in-depth empirical analysis of risk contagion among financial institutions under the oil market risk shock. According to the findings of this paper, systemic financial risk increases dramatically during oil crisis events. This paper also captures important characteristics of the network, including major risk receivers and risk transmitters, and finds that banks suffer more risk losses from the oil market. Furthermore, considering the important role of the financial system in the macro economy, the systemic financial risk caused by oil market risk has long-term negative effects on economic output.
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