Before revision:  In particular, both the growth and connectivity of the guarantee network was diminished by the 2008 financial crisis , and enhanced by the following stimulus program. This research presents data-driven insights on how the topological structure of the guarantee network is associated with economic policies .
After revision:  In particular, both the growth and connectivity of the guarantee network by reducing mutual guarantees. Interestingly, our work reveals that the financial crisis made the network more resilient, and conversely, the government bailout degenerated network resilience. These counterintuitive findings can provide new insight into the resilience of real-world credit system under external shocks or rescues .