Pierpaolo Dondio et al. have published "The 'Invisible Hand' of Peer Review: The Implications of Author-Referee Networks on Peer Review in a Scholarly Journal" in the Journal of Informetrics.
Here's an excerpt:
Peer review is not only a quality screening mechanism for scholarly journals. It also connects authors and referees either directly or indirectly. This means that their positions in the network structure of the community could influence the process, while peer review could in turn influence subsequent networking and collaboration. . . . By reconstructing temporal co-authorship networks, we found that referees tended to recommend more positively submissions by authors who were within three steps in their collaboration network. We also found that co-authorship network positions changed after peer review, with the distances between network neighbours decreasing more rapidly than could have been expected had the changes been random. This suggests that peer review could not only reflect but also create and accelerate scientific collaboration.
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