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Theoretical and Applied Economics
No. 3 / 2020 (624), Autumn

Simulation of financial contagion effect using the NetLogo software at the level of the banking network

Ionuț NICA
Bucharest University of Economic Studies, Romania

Abstract. The complexity of current financial systems around the world makes it difficult to create indicators that accurately assess the systemic risk of any institution. One of the most important issues that has been highlighted in recent years has been the interconnection of banks in the financial network. This led to an increase in the likelihood of contagion, a scenario in which small shocks, which initially impacted only a part of the institutions in the system, spread across the network. Thus, this paper studies the effects of financial contagion that can be transmitted in a banking network, simulating the spread of this effect with the help of the NetLogo IT solution. In recent years, banking accidents have led to a significant disruption of the financial system around the world. Even the COVID-19 pandemic can represent a systemic shock in the banking network and not only and an ascending evolution of the pandemic will be able to create a financial contagion effect at the level of banking institutions.

Keywords: financial contagion, NetLogo, banking network.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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