Risk contagion in financial markets: A systematic review using bibliometric methods

Abstract

We explore evolving research trends and hotspots in financial contagion through keywords co‐occurrence and co‐citation network analyses. 2,071 articles have been collected from Web of Science Core Collection database from 2005 to 2021 and been analyzed by using bibliometric methods. The results indicate a tremendous growth in research on financial contagion, especially following the Global Finance Crisis. The current research mainly focuses on understanding the causes and consequences of past financial crises and recessions, examining the network effects of banks and other important financial institutions on risk contagion, developing new systematic approaches to modelling financial contagion, and providing empirical evidences for financial contagion among various asset classes and across different countries and regions. We find that there is still no consensus regarding the causes and measures of financial contagion, however, new promising perspectives have emerged to expand research in this area. We also propose several future directions for studies on financial contagion based on the research gap identified in this review.

Quantifying Impact, Uncovering Trends: A Comprehensive Bibliometric Analysis of Shadow Banking and Financial Contagion Dynamics

“…They identified 151 empirical studies, and the results of their analysis indicated that empirical studies on contagion have consistently increased in recent years. Another analysis conducted by Su et al (2023) examines the risk of financial contagion in financial markets. They extracted articles using the Web of Science database for the period 2005-2021.…”

Introduction to special issue: The economics of catastrophes

“…‘Risk contagion in financial markets: A systematic review using bibliometric methods’ by Su et al (2024) presents a comprehensive analysis of studies on financial contagion. The analysis highlights a growing interest in risk contagion studies within unconventional assets, such as cryptocurrencies.…”