TY - GEN

T1 - Management Potential of an International Trade Network Based on Cointegration Analysis

AU - Navrotskaia, Natalia Anatolyevna

AU - Sopilko, Natalya Yurievna

AU - Bogomaz, Ekaterina Vladimirovna

N1 - Conference code: 34th

PY - 2019

Y1 - 2019

N2 - This article investigates whether cointegration approach can be the basis of an international trade network and whether such a network is relevant for analysis. We fit data on international-trade flows with a cointegration specification using cointegration approach. In addition, we use the force algorithm of Kamada and Kawai for replicating the weighted international trade network. We find that the cointegration approach in combination with the Kamada and Kawai algorithm successfully replicates the weighted international trade network structure. The presented methodological toolkit allowed to distribute the countries-participants of the network into separate groups (communities). We also identify the specific network participants - network-drivers which have specific management functions in the international trade network. Driver countries are able to change the system configuration with a relatively small impact on them. This means that to change the network configuration, it is advisable to act on the driver nodes.

AB - This article investigates whether cointegration approach can be the basis of an international trade network and whether such a network is relevant for analysis. We fit data on international-trade flows with a cointegration specification using cointegration approach. In addition, we use the force algorithm of Kamada and Kawai for replicating the weighted international trade network. We find that the cointegration approach in combination with the Kamada and Kawai algorithm successfully replicates the weighted international trade network structure. The presented methodological toolkit allowed to distribute the countries-participants of the network into separate groups (communities). We also identify the specific network participants - network-drivers which have specific management functions in the international trade network. Driver countries are able to change the system configuration with a relatively small impact on them. This means that to change the network configuration, it is advisable to act on the driver nodes.

KW - world trade

KW - complex networks of international trade

KW - complex weighted network

KW - World Trade Web

KW - cointegration

KW - network-core

KW - network-drivers

KW - ECONOMIC NETWORKS

M3 - статья в сборнике материалов конференции

SP - 4440

EP - 4447

BT - Proceedings of the 34th International Business Information Management Association Conference (IBIMA)

A2 - Soliman, KS

PB - IBIMA

Y2 - 13 November 2019 through 14 November 2019

ER -