Is the world small enough? - A view from currencies

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dc.authoridBaydilli, Yusuf Yargi/0000-0002-4457-2081
dc.contributor.authorBaydilli, Yusuf Yargi
dc.contributor.authorTurker, Ilker
dc.date.accessioned2024-09-29T16:04:50Z
dc.date.available2024-09-29T16:04:50Z
dc.date.issued2019
dc.departmentKarabük Üniversitesien_US
dc.description.abstractExchange rates are important indicators of the economic power of countries, directly affected by the international trading patterns and relations. Since almost every pair of countries in the globalized world are economically and financially related, exchange rates can be evaluated as nodes of a global financial network to make meaningful inferences. In this study, a financial network approach is conducted by evaluating the movements of the most traded 35 currencies against gold between years 2005 and 2017. Using graph theory and statistical methods, the analysis of economic relations between currencies is carried out, supported with geographical and cultural inferences. A risk map of currencies is generated through the portfolio optimization. Another approach of applying various threshold levels for correlations to determine connections between currencies is also employed. Results indicate that there exists a saddle point for correlation threshold as which results in a robust network topology that is highly modular and clustered, also dominantly displaying small-world and scale-free properties.en_US
dc.identifier.doi10.1142/S0217979219501200
dc.identifier.issn0217-9792
dc.identifier.issn1793-6578
dc.identifier.issue12en_US
dc.identifier.scopus2-s2.0-85065497932en_US
dc.identifier.scopusqualityQ3en_US
dc.identifier.urihttps://doi.org/10.1142/S0217979219501200
dc.identifier.urihttps://hdl.handle.net/20.500.14619/6335
dc.identifier.volume33en_US
dc.identifier.wosWOS:000469831300014en_US
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherWorld Scientific Publ Co Pte Ltden_US
dc.relation.ispartofInternational Journal of Modern Physics Ben_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectCurrenciesen_US
dc.subjectexchange ratesen_US
dc.subjectfinancial networken_US
dc.subjectcorrelation-based clusteringen_US
dc.subjectsmall-world networksen_US
dc.titleIs the world small enough? - A view from currenciesen_US
dc.typeArticleen_US

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