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The stability of the international oil trade network from short-term and long-term perspectives

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  • Sun, Qingru
  • Gao, Xiangyun
  • Zhong, Weiqiong
  • Liu, Nairong

Abstract

To examine the stability of the international oil trade network and explore the influence of countries and trade relationships on the trade stability, we construct weighted and unweighted international oil trade networks based on complex network theory using oil trading data between countries from 1996 to 2014. We analyze the stability of international oil trade network (IOTN) from short-term and long-term aspects. From the short-term perspective, we find that the trade volumes play an important role on the stability. Moreover, the weighted IOTN is stable; however, the unweighted networks can better reflect the actual evolution of IOTN. From the long-term perspective, we identify trade relationships that are maintained during the whole sample period to reveal the situation of the whole international oil trade. We provide a way to quantitatively measure the stability of complex network from short-term and long-term perspectives, which can be applied to measure and analyze trade stability of other goods or services.

Suggested Citation

  • Sun, Qingru & Gao, Xiangyun & Zhong, Weiqiong & Liu, Nairong, 2017. "The stability of the international oil trade network from short-term and long-term perspectives," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 482(C), pages 345-356.
    • Handle: RePEc:eee:phsmap:v:482:y:2017:i:c:p:345-356
    DOI: 10.1016/j.physa.2017.04.047
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