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The double role of GDP in shaping the structure of the International Trade Network

Almog, Assaf and Squartini, Tiziano and Garlaschelli, Diego The double role of GDP in shaping the structure of the International Trade Network. International Journal of Computational Economics and Econometrics, 7 (4). pp. 381-398. ISSN 1757-1189 (2017)

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The International Trade Network (ITN) is the network formed by trade relationships between world countries. The complex structure of the ITN impacts important economic processes such as globalization, competitiveness, and the propagation of instabilities. Modeling the structure of the ITN in terms of simple macroeconomic quantities is therefore of paramount importance. While traditional macroeconomics has mainly used the Gravity Model to characterize the magnitude of trade volumes, modern network theory has predominantly focused on modeling the topology of the ITN. Combining these two complementary approaches is still an open problem. Here we review these approaches and emphasize the double role played by GDP in empirically determining both the existence and the volume of trade linkages. Moreover, we discuss a unified model that exploits these patterns and uses only the GDP as the relevant macroeconomic factor for reproducing both the topology and the link weights of the ITN.

Item Type: Article
Identification Number: 10.1504/IJCEE.2017.10003511
Uncontrolled Keywords: Networks, Econophysics
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
Q Science > QC Physics
Research Area: Economics and Institutional Change
Depositing User: Caterina Tangheroni
Date Deposited: 09 Mar 2018 13:15
Last Modified: 09 Mar 2018 13:15
URI: http://eprints.imtlucca.it/id/eprint/3998

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