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The International Trade Network: weighted network analysis and modelling

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  • K. Bhattacharya
  • G. Mukherjee
  • J. Saramaki
  • K. Kaski
  • S. S. Manna
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    Abstract

    Tools of the theory of critical phenomena, namely the scaling analysis and universality, are argued to be applicable to large complex web-like network structures. Using a detailed analysis of the real data of the International Trade Network we argue that the scaled link weight distribution has an approximate log-normal distribution which remains robust over a period of 53 years. Another universal feature is observed in the power-law growth of the trade strength with gross domestic product, the exponent being similar for all countries. Using the 'rich-club' coefficient measure of the weighted networks it has been shown that the size of the rich-club controlling half of the world's trade is actually shrinking. While the gravity law is known to describe well the social interactions in the static networks of population migration, international trade, etc, here for the first time we studied a non-conservative dynamical model based on the gravity law which excellently reproduced many empirical features of the ITN.

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    File URL: http://arxiv.org/pdf/0707.4343
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    Bibliographic Info

    Paper provided by arXiv.org in its series Papers with number 0707.4343.

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    Date of creation: Jul 2007
    Date of revision: Mar 2008
    Publication status: Published in J. Stat. Mech. (2008) P02002
    Handle: RePEc:arx:papers:0707.4343

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    Web page: http://arxiv.org/

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    Cited by:
    1. Song, Dong-Ming & Jiang, Zhi-Qiang & Zhou, Wei-Xing, 2009. "Statistical properties of world investment networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 388(12), pages 2450-2460.
    2. Massimo Riccaboni & Stefano Schiavo, 2010. "The Structure and Growth of International Trade," Department of Economics Working Papers 1005, Department of Economics, University of Trento, Italia.
    3. Gautier M. Krings & Jean-Fran\c{c}ois Carpantier & Jean-Charles Delvenne, 2013. "Trade integration and trade imbalances in the European Union: a network perspective," Papers 1309.4156, arXiv.org.
    4. Matteo Barigozzi & Giorgio Fagiolo & Giuseppe Mangioni, 2010. "Identifying the Community Structure of the International-Trade Multi Network," LEM Papers Series 2010/15, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. Samuel MAVEYRAUD, 2013. "La structure du réseau de commerce international en 1850," Cahiers du GREThA 2013-22, Groupe de Recherche en Economie Théorique et Appliquée.
    6. Massimo Riccaboni & Alessandro Rossi & Stefano Schiavo, 2013. "Global networks of trade and bits," Journal of Economic Interaction and Coordination, Springer, vol. 8(1), pages 33-56, April.
    7. Marco Duenas & Giorgio Fagiolo, 2013. "Global Trade Imbalances: A Network Approach," LEM Papers Series 2013/12, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    8. Sufrauj, Shamnaaz & Schiavo, Stefano & Riccaboni, Massimo, 2014. "The Structure and Growth of World Trade, and the Role of Europe in the Global Economy," MPRA Paper 54122, University Library of Munich, Germany.
    9. Massimo Riccaboni & Stefano Schiavo, 2009. "The Structure and Growth of Weighted Networks," Papers 0908.0348, arXiv.org, revised Dec 2009.

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