Researcher ORCID Identifier

0009-0004-1949-6023

Graduation Year

2026

Date of Submission

4-2026

Document Type

Open Access Senior Thesis

Degree Name

Bachelor of Arts

Department

Physics

Second Department

Economics

Reader 1

Sarah Marzen

Reader 2

Florian Madison

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Terms of Use for work posted in Scholarship@Claremont.

Rights Information

© 2026 Riya Bhasin

Abstract

In this thesis, we explore the main drivers behind the 2008 Global Financial Crisis and how the interconnectivity of banking sectors contributed to the worldwide spread of its effects. To understand how this became a global phenomenon, we apply linear Wiener-Granger Causality as a form of network analysis, building on pre-existing methodology in order to study continent banking indices. We find connections across locales on the continent and country level, but ones that are weak. Our modelling was insufficient to completely capture existing and well-known relationships accurately. This occurs due to limitations of the data and of the linear models’ overregularisation. Despite our global banking system showing limited cross-regional predictive dependence, more work can be done to understand the intricacies of the banking sector. More data and utilisation of more complex Wiener-Granger modelling would better capture the complexities of globalisation.

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