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Interplay between topology and dynamics in the World Trade Web

Garlaschelli, Diego and Di Matteo, Tiziana and Aste, Tomaso and Caldarelli, Guido and Loffredo, Maria Immacolata Interplay between topology and dynamics in the World Trade Web. The European Physical Journal B, 57 (2). pp. 159-164. ISSN 1434-6028 (2007)

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We present an empirical analysis of the network formed by the trade relationships between all world countries, or World Trade Web (WTW). Each (directed) link is weighted by the amount of wealth flowing between two countries, and each country is characterized by the value of its Gross Domestic Product (GDP). By analysing a set of year-by-year data covering the time interval 1950–2000, we show that the dynamics of all GDP values and the evolution of the WTW (trade flow and topology) are tightly coupled. The probability that two countries are connected depends on their GDP values, supporting recent theoretical models relating network topology to the presence of a `hidden' variable (or fitness). On the other hand, the topology is shown to determine the GDP values due to the exchange between countries. This leads us to a new framework where the fitness value is a dynamical variable determining, and at the same time depending on, network topology in a continuous feedback.

Item Type: Article
Identification Number: 10.1140/epjb/e2007-00131-6
Uncontrolled Keywords: PACS: 89.75.Hc Networks and genealogical trees; 89.65.-s Social and economic systems; 87.23.Ge Dynamics of social systems; 02.50.-r Probability theory, stochastic processes, and statistics
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
Q Science > QC Physics
Research Area: Economics and Institutional Change
Depositing User: Ms T. Iannizzi
Date Deposited: 01 Feb 2012 15:35
Last Modified: 08 Mar 2018 17:09
URI: http://eprints.imtlucca.it/id/eprint/1103

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