金融傳播關聯性間的系統性風險、跨境金融活動及監理措施

Abstract

為理解金融機構間「太密切而不能倒」的問題，本研究以金融傳播關聯性探討銀行體系間跨境金融所形成的系統性風險。透過網絡模型計算各國銀行體系對整體金融網絡的衝擊程度，研究發現位於金融網絡中心的國家具備高度傳播效果，一旦受創，將對全球金融體系造成顯著影響。此外，本研究亦發現金融網絡結構確實會決定貨幣政策如何影響銀行行為，並進一步提出強化系統性重要金融機構監理相關政策建議。

To understand the issue of “too interconnected to fail” among financial institutions, this study examines systemic risk arising from cross-border financial interconnectedness in international banking systems. Using a network model to calculate the impact of each country's banking system on the global financial network, the study finds that countries at the center of the network exhibit strong contagion effects and, if disrupted, can significantly affect the global financial system. Furthermore, the study reveals that the structure of the financial network plays a key role in determining how monetary policy influences banking behavior. Based on these findings, the study proposes policy recommendations to strengthen the supervision of systemically important financial institutions.