Backbone of Credit Relationships in the Japanese Credit Market

14 Pages Posted: 22 Nov 2015

See all articles by Luca Marotta

Luca Marotta

University of Palermo

Salvatore Miccichè

University of Palermo - Department of Physics and Chemistry

Yoshi Fujiwara

University of Hyogo - Graduate School of Simulation Studies

Hiroshi Iyetomi

Niigata University

Hideaki Aoyama

GSAIS, Kyoto University

Mauro Gallegati

Università Politecnica delle Marche - Faculty of Economics

Rosario N. Mantegna

University of Palermo

Date Written: November 21, 2015

Abstract

We detect the backbone of the weighted bipartite network of the Japanese credit market relationships. The backbone is detected by adapting a general method used in the investigation of weighted networks. With this approach we detect a backbone that is statistically validated against a null hypothesis of uniform diversification of loans for banks and firms. Our investigation is done year by year and it covers more than thirty years during the period from 1980 to 2011. We relate some of our findings with economic events that have characterized the Japanese credit market during the last years. The study of the time evolution of the backbone allows us to detect changes occurred in network size, fraction of credit explained, and attributes characterizing the banks and the firms present in the backbone.

Keywords: Complex networks, Information filtering, Statistically validated networks, Credit market

Suggested Citation

Marotta, Luca and Miccichè, Salvatore and Fujiwara, Yoshi and Iyetomi, Hiroshi and Aoyama, Hideaki and Gallegati, Mauro and Mantegna, Rosario Nunzio, Backbone of Credit Relationships in the Japanese Credit Market (November 21, 2015). Available at SSRN: https://ssrn.com/abstract=2694005 or http://dx.doi.org/10.2139/ssrn.2694005

Luca Marotta

University of Palermo ( email )

Viale delle Scienza
Palermo, 90128
Italy

Salvatore Miccichè

University of Palermo - Department of Physics and Chemistry ( email )

Viale delle Scienze, Ed. 17
Palermo, PA 90128
Italy
+3909123899145 (Phone)

HOME PAGE: http://www.unipa.it/~salvatore.micciche

Yoshi Fujiwara

University of Hyogo - Graduate School of Simulation Studies ( email )

7-1-28 Minato-jima, Minami-machi
Chuo-ku
Kobe, Hyogo 650-0047
Japan

Hiroshi Iyetomi

Niigata University ( email )

8050 Ikarashi-2-cho
Nishi-ku
Niigata, 9502181
Japan

Hideaki Aoyama

GSAIS, Kyoto University ( email )

Yoshida-Adachi-cho 1
Sakyo-ku
Kyoto, 606-8306
Japan
+81-9019011954 (Phone)

Mauro Gallegati

Università Politecnica delle Marche - Faculty of Economics ( email )

Piazzale Martelli, 8
60121 Ancona
Italy
++390712207188 (Phone)
++390712207102 (Fax)

Rosario Nunzio Mantegna (Contact Author)

University of Palermo ( email )

Dipartimento di Fisica e Chimica
Viale delle Scienze, Edificio 18
Palermo, PA I-90128
Italy
+3909123899074 (Phone)
+3909123860815 (Fax)

HOME PAGE: http://www.unipa.it/persone/docenti/m/rosario.mantegna

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