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    Analysis of systemic risk on the financial performance during the COVID-19 pandemic: The case of the Colombian banking industry
    (Multidisciplinary Digital Publishing Institute (MDPI), 2024-03-01)
    This study seeks to analyze the financial performance of the Colombian banking industry during the COVID-19 pandemic. The frame of reference is based on the concept of systemic risk; concerning this, the pandemic is conceived as an external shock, which impacted the dynamics of the banking industry. To conduct this study, a descriptive-correlational scope is proposed, from which an analysis of different accounting items related to the banking business is made and validated by expert judgment. The analysis horizon covers six years, but the focus is placed on March 2020, when COVID-19 was declared a pandemic by the World Health Organization (WHO). For this purpose, a longitudinal design is proposed, which analyzes the time series describing the behavior of some relevant items in the management of the banking business, such as operating revenue, provisions, interest on deposits and drawings, valuation of trading derivatives, and technology-related expenses. In addition, these items’ correlation with banking establishments’ performance is analyzed. The results of the study show that during the pandemic period, there was a significant increase in the level of volatility in the foreign exchange market, which impacted the operating revenue of banking establishments. It is concluded that, although exchange rate volatility affected the results of the banking industry, the main factor related to the financial performance of Colombian banks is their business itself, i.e., revenue from the loan portfolio and the quality of the loan portfolio. Therefore, systemic risk must be addressed regarding its implications on banks’ main profit drivers, such as portfolio revenue, cost of deposits, and provisions. Based on the above, it is recommended that Colombian banking establishments make greater efforts to diversify their sources of income to reduce their exposure to systemic risk situations.
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    A Bibliometric Analysis on Network-Based Systemic Risk
    (Multidisciplinary Digital Publishing Institute (MDPI), 2025-11-01)
    The vulnerability of the global financial system to systemic risk-related adverse events has become more evident in recent years, as shown by the 2008 financial crisis and the global pandemic. This study examines systemic risk and its contributing factors using network analysis to understand how contagion occurs. To achieve this, a bibliometric analysis was conducted using a cluster analysis of publications from 2020 to 2025. The bibliometric analysis covered 1642 papers related to systemic risk and financial transmission networks. The CiteSpace software was used to identify seven thematic clusters. The results show the relevance of topological analysis in explaining the connection between institutions and the spread of risk. There is also a clear tradition in the literature of applying the DY spillover index, which captures the temporal dynamics of systemic connectivity. Multilayer networks stand out as a trend in recent studies, as they have the potential to represent different types of relationships simultaneously between nodes. Finally, the literature pays attention to systemic connectivity problems during crises, which can amplify volatility and generate forced asset sales, highlighting the need to use advanced VAR-type models to anticipate risk transmission and guide macroprudential management.
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