Arbeitspapier

Null models of economic networks: The case of the world trade web

In all empirical-network studies, the observed properties of economic networks are informative only if compared with a well-defined null model that can quantitatively predict the behavior of such properties in constrained graphs. However, predictions of the available null-model methods can be derived analytically only under assumptions (e.g., sparseness of the network) that are unrealistic for most economic networks like the World Trade Web (WTW). In this paper we study the evolution of the WTW using a recently-proposed family of null network models. The method allows to analytically obtain the expected value of any network statistic across the ensemble of networks that preserve on average some local properties, and are otherwise fully random. We compare expected and observed properties of the WTW in the period 1950-2000, when either the expected number of trade partners or total country trade is kept fixed and equal to observed quantities. We show that, in the binary WTW, node-degree sequences are sufficient to explain higher-order network properties such as disassortativity and clustering-degree correlation, especially in the last part of the sample. Conversely, in the weighted WTW, the observed sequence of total country imports and exports are not sufficient to predict higher-order patterns of the WTW. We discuss some important implications of these findings for international-trade models.

Sprache
Englisch

Erschienen in
Series: LEM Working Paper Series ; No. 2011/26

Klassifikation
Wirtschaft
Network Formation and Analysis: Theory
Econometric and Statistical Methods: Special Topics: Other
Computational Techniques; Simulation Modeling
Trade: General
Thema
World Trade Web
Null Models of Networks
Complex Networks
International Trade

Ereignis
Geistige Schöpfung
(wer)
Fagiolo, Giorgio
Squartini, Tiziano
Garlaschelli, Diego
Ereignis
Veröffentlichung
(wer)
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM)
(wo)
Pisa
(wann)
2011

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Fagiolo, Giorgio
  • Squartini, Tiziano
  • Garlaschelli, Diego
  • Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM)

Entstanden

  • 2011

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