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The Role of the Domestic Market Scale in Enhancing Self-Resilience: Analysis based on the PageRank centrality of RCEP and G7 Countries

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  • Lei Wang
  • Xinya Gao
  • Thomas Stephen Ramsey
  • Geoffrey J. D. Hewings

Abstract

How emerging economies could improve their self-resilience is our focus. This paper employs the hypothetical extraction method, PageRank algorithm and the 2005–2019 Comtrade database to analyse the impacts of domestic market scale on the economy’s resilience in the value chains and conditions under which it is affected. The empirical results show that expanding the scale of the domestic market would significantly improve the economy’s resilience in both the RCEP and G7 value chains. Our conclusions support the enrichment of pathways for economies with relatively backward technologies to cope with unexpected shocks and gradually restore economic vitality.

Suggested Citation

  • Lei Wang & Xinya Gao & Thomas Stephen Ramsey & Geoffrey J. D. Hewings, 2023. "The Role of the Domestic Market Scale in Enhancing Self-Resilience: Analysis based on the PageRank centrality of RCEP and G7 Countries," Global Economic Review, Taylor & Francis Journals, vol. 52(2), pages 134-166, April.
    • Handle: RePEc:taf:glecrv:v:52:y:2023:i:2:p:134-166
    DOI: 10.1080/1226508X.2023.2215807
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