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Complex financial networks and systemic risk: a review

Bougheas, Spiros; Kirman, Alan


Alan Kirman


Pasquale Commendatore

Saime Kayam

Ingrid Kubin


In this paper we review recent advances in financial economics in relation to the measurement of systemic risk. We start by reviewing studies that apply traditional measures of risk to financial institutions. However, the main focus of the review is on studies that use network analysis paying special attention to those that apply complex analysis techniques. Applications of these techniques for the analysis and pricing of systemic risk has already provided significant benefits at least at the conceptual level but it also looks very promising from a practical point of view.


Bougheas, S., & Kirman, A. (2015). Complex financial networks and systemic risk: a review. In S. Kayam, P. Commendatore, & I. Kubin (Eds.), Complexity and Geographical Economics: Topics and ToolsSpringer International Publishing. doi:10.1007/978-3-319-12805-4_6

Publication Date Jan 29, 2015
Deposit Date Sep 11, 2015
Peer Reviewed Peer Reviewed
Issue 19
Series Title Dynamic modeling and econometrics in economics and finance
Book Title Complexity and Geographical Economics: Topics and Tools
ISBN 9783319128047
Public URL
Publisher URL
Copyright Statement Copyright information regarding this work can be found at the following address: