2007/17 | LEM Working Paper Series | |
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The Evolution of the World Trade Web |
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Giorgio Fagiolo, Javier Reyes, Stefano Schiavo |
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Keywords | ||
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Networks; World trade web; international trade; weighted network analysis;
integration; trade openness; globalization.
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JEL Classifications | ||
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F10, D85
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Abstract | ||
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This paper employs a weighted network analysis to study the empirical properties of
the world trade web and their evolution over time. We show that most countries are
characterized by weak trade links; yet, there exists a group of countries featuring a large
number of strong relationships, thus hinting to a core-periphery structure. Also, better-
connected countries tend to trade with poorly-connected ones, but are also involved in
highly-interconnected trade clusters. Furthermore, rich countries display more intense
trade links and are more clustered. Finally, all network properties are remarkably stable
across the years and do not depend on the weighting procedure.
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