2007/25 | LEM Working Paper Series | |
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Using Complex Network Analysis to Assess the Evolution of International Economic Integration: The cases of East Asia and Latin America |
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Javier Reyes, Stefano Schiavo, Giorgio Fagiolo |
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Keywords | ||
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International trade, High Performing Asian Economies, Latin American Economies, Development, Growth,
Networks, Complex Weighted Networks, World Trade Web, Centrality
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JEL Classifications | ||
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F10, D85
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Abstract | ||
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Over the past four decades the High Performing Asian
Economies (HPAE) have followed a development strategy based on the
exposure of their local markets to the presence of foreign
competition and on an outward oriented production. In contrast,
Latin American Economies (LATAM) began taking steps in this
direction only in the late eighties and early nineties, but before
this period these countries were more focused in the implementation
of import substitution policies. These divergent paths have led to
sharply different growth performance in the two regions. Yet,
standard trade openness indicators fall short of portraying the
peculiarity of the Asian experience, and to explain why other
emerging markets with similar characteristics have been less
successful over the last 25 years. This paper offers an alternative
perspective on the issue by exploiting recently-developed indicators
based on weighted network analysis. This allows us to investigate
the whole structure of international trade relationships and to
determine both the position of HPAE countries in the network and its
evolution over time. We show that HPAE countries are more integrated
into the world economy, as they have moved -over the past 25 years-
from the periphery of the network towards its core. In contrast, the
LATAM region seems to be loosing presence within the network or, at
best, its integration process has remained stagnant.
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