Research On The Linkage Of The Stock Markets Of The "Belt And Road" Countries Based On The Perspective Of Trade Space Network Correlation

Based on the basic economic data of the countries along the “Belt and Road” and the stock market,this paper studies the linkage changes and dependent structural characteristics of their financial markets.First,by constructing physical distance indicators and trade distance indicators to reflect the geospatial network relationships of trade and geospatial among the countries along the “Belt and Road”,at the same time,this network relationship can be visualized with the help of social network analysis to help analysis and research.The combination of financial distance measurement and geospatial methods is used to empirically study the linkage of financial markets,that is,to fit and predict financial markets based on physical distances and economic distances along the “Belt and Road” countries using kriging interpolation and semivariogram models linkage difference.In order to fully study the characteristics of the linkage mechanism with the stock market from the perspective of trade network.Firstly,one belt,one road,trade network of the countries along the border is analyzed.The results show that one belt,one road,and the other developing countries,have increased the degree of trade correlation between the neighboring countries,and the trade status of all countries has also increased.The trade links between the countries along the route are enhanced.The participation of more countries also increases the trade status of some countries along the route.China's one belt,one road,has been expanded in the main trade network of China in the main years.The implementation of the "one belt and one way" policy has expanded the scope of trade and brought more trade possibilities to all countries.As the core of the network,the role of connectivity has been significantly enhanced.Secondly,“ one belt,one road” is used to study the linkage of stock markets.The results show that there is a certain linkage between the "stock market" and the "trade area".The distance between the two countries can better describe the linkage and dependence in the stock market.Physical distance is not helpful to explain the spatial linkage of the stock market returns.The linkage between one belt,one road and the other,is more obvious than that of the stock market.If the rate of return is greater and the positive rate of return is greater,the linkage of the stock market will be more obvious.Under the extreme return rate,the large negative earnings will be more homogeneous than the large positive earnings in the financial markets along the same route.One belt,one road and the other half of the market,which is a good example of the dependence of the market in the countries along the way.The exponential model and the wave model can depict the structure of the semi variogram of most days and fully capture the existing correlation between the returns of the small stock exchanges along the route.Finally,based on the cross test of Kriging's method,the effectiveness and robustness of the combination of economic distance measurement and spatial method are verified.It shows that the problem of stock market interdependence is very suitable for the use of spatial econometrics.Compared with the traditional method,the statistical analysis of stock market interdependence in this paper has important reference significance.