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Influence of petroleum and gas trade on EU economies from the reduced Google matrix analysis of UN COMTRADE data

Author

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  • Célestin Coquidé

    (Institut UTINAM, OSU THETA, Université de Bourgogne Franche-Comté, CNRS)

  • Leonardo Ermann

    (Departamento de Física Teórica, GIyA, CNEA)

  • José Lages

    (Institut UTINAM, OSU THETA, Université de Bourgogne Franche-Comté, CNRS)

  • Dima L. Shepelyansky

    (Laboratoire de Physique Théorique, IRSAMC, Université de Toulouse, CNRS, UPS)

Abstract

Using the United Nations COMTRADE database (United Nations Commodity Trade Statistics Database, http://comtrade.un.org/db/ (accessed January 2019)) we apply the reduced Google matrix (REGOMAX) algorithm to analyze the multiproduct world trade in years 2004–2016. Our approach allows determining the trade balance sensitivity of a group of countries to a specific product price increase from a specific exporting country taking into account all direct and indirect trade pathways via all world countries exchanging 61 UN COMTRADE identified trade products. On the basis of this approach we present the influence of trade in petroleum and gas products from Russia, USA, Saudi Arabia and Norway determining the sensitivity of each EU country. We show that the REGOMAX approach provides a new and more detailed analysis of trade influence propagation comparing to the usual approach based on export and import flows. Graphical abstract

Suggested Citation

  • Célestin Coquidé & Leonardo Ermann & José Lages & Dima L. Shepelyansky, 2019. "Influence of petroleum and gas trade on EU economies from the reduced Google matrix analysis of UN COMTRADE data," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 92(8), pages 1-14, August.
    • Handle: RePEc:spr:eurphb:v:92:y:2019:i:8:d:10.1140_epjb_e2019-100132-6
    DOI: 10.1140/epjb/e2019-100132-6
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    References listed on IDEAS

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    1. Bouchaud,Jean-Philippe & Potters,Marc, 2003. "Theory of Financial Risk and Derivative Pricing," Cambridge Books, Cambridge University Press, number 9780521819169.
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    Cited by:

    1. C'elestin Coquid'e & Jos'e Lages & Dima L. Shepelyansky, 2024. "Opinion formation in the world trade network," Papers 2401.02378, arXiv.org, revised Feb 2024.
    2. Célestin Coquidé & José Lages & Dima Shepelyansky, 2024. "Opinion Formation in the World Trade Network," Post-Print hal-04461784, HAL.
    3. C'elestin Coquid'e & Jos'e Lages & Dima L. Shepelyansky, 2020. "Crisis contagion in the world trade network," Papers 2002.07100, arXiv.org.
    4. Célestin Coquidé & José Lages & Dima Shepelyansky, 2020. "Interdependence of sectors of economic activities for world countries from the reduced Google matrix analysis of WTO data," Post-Print hal-02132487, HAL.
    5. Célestin Coquidé & José Lages & Leonardo Ermann & Dima Shepelyansky, 2022. "COVID-19 impact on the international trade," Post-Print hal-03536528, HAL.
    6. Frahm, Klaus M. & Shepelyansky, Dima L., 2020. "Google matrix analysis of bi-functional SIGNOR network of protein–protein interactions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 559(C).
    7. C'elestin Coquid'e & Jos'e Lages & Dima L. Shepelyansky, 2023. "Prospects of BRICS currency dominance in international trade," Papers 2305.00585, arXiv.org.
    8. Guillaume Rollin & José Lages & Dima L Shepelyansky, 2019. "Wikipedia network analysis of cancer interactions and world influence," PLOS ONE, Public Library of Science, vol. 14(9), pages 1-26, September.

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