复旦金融论坛第81期：Measuring Global Flow of Funds: Statistical Framework, Data Sources, and a Country Case

Abstract:This study measures the Global Flow of Funds (GFF). Based on the statistical framework for measuring GFF under the System of Monetary and Financial Statistics, the study identifies the systematic relationship of financial linkages among economic sectors and with the rest of the world while integrating data sources. It sets out the GFF’s concept, constructs a GFF matrix (metadata) on a from-whom-to-whom basis within a “country by country” pattern, discusses existing data sources, and integrates data sources for measuring GFF, namely, data from the IIIP, CDIS, CPIS, and Consolidated Banking Statistics. Furthermore, a country case illustrates how the GFF matrix was compiled. Lastly, the established China’s GFF matrix table is used to conduct empirical analysis. The main outcome is a prototype GFF template that includes stock data geographically broken down by country/region and selected financial instrument.

主 讲 人：Nan Zhang

Dr. Zhang came to Japan in 1989, studied in the Institute of Economic Research at Kyoto University, and received Ph.D degree in 1993 from Ritsumeikan University. From 1995 to 1997, he worked as an associate professor at the Faculty of Commercial Sciences, Hiroshima Shudo University. In April 1997, he obtained professorship at the University. He has ever worked as a Visiting Scholar at Columbia University from 2001 to 2002; University of California, Berkeley from 2007 to 2008, and Stanford University from 2014 to 2015. Professor Zhang is a special research fellow of the Research Center for Finance and Securities at Peking University. In 2008, he was named Technical Assistance Expert of the Statistics department of the IMF. His research focuses on Global Flow of Funds Analysis, Financial Econometrics, Economic Statistics and Monetary & Financial Statistics.