Utilize este identificador para referenciar este registo: https://hdl.handle.net/10216/118079
Autor(es): Ribeiro, Ana Sofia
Pinheiro, Flávio L.
Santos, Francisco C.
Polónia, Amélia
Pacheco, Jorge M.
Título: Structural and temporal patterns of the first global trading market
Data de publicação: 2018-08-01
Resumo: Little is known about the structural patterns and dynamics of the first global trading market (FGTM), which emerged during the sixteenth century as a result of the Iberian expansion, let alone how it compares to todays global financial markets. Here we build a representative network of the FGTM using information contained in 8725 (handwritten) Bills of Exchange from that timewhich were (human) interpreted and digitalized into an online database. We show that the resulting temporal network exhibits a hierarchical, highly clustered and disassortative structure, with a power-law dependence on the connectivity that remains remarkably robust throughout the entire period investigated. Temporal analysis shows that, despite major turnovers in the number and nature of the linkssuggesting fast adaptation in response to the geopolitical and financial turmoil experienced at the timethe overall characteristics of the FGTM remain robust and virtually unchanged. The methodology developed here demonstrates the possibility of building and analysing complex trading and finance networks originating from pre-statistical eras, enabling us to highlight the striking similarities between the structural patterns of financial networks separated by centuries in time.
URI: https://hdl.handle.net/10216/118079
Tipo de Documento: Artigo em Revista Científica Internacional
Condições de Acesso: openAccess
Aparece nas coleções:FLUP - Artigo em Revista Científica Internacional

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