COVID-19 impact on the international trade

Célestin Coquidé (), José Lages, Leonardo Ermann and Dima Shepelyansky ()
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Célestin Coquidé: UTINAM - Univers, Théorie, Interfaces, Nanostructures, Atmosphère et environnement, Molécules (UMR 6213) - INSU - CNRS - Institut national des sciences de l'Univers - CNRS - Centre National de la Recherche Scientifique - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE]
Leonardo Ermann: CNEA - Comisión Nacional de Energía Atómica [ARGENTINA]
Dima Shepelyansky: ICQ - Cohérence Quantique (LPT) - LPT - Laboratoire de Physique Théorique - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique - FeRMI - Fédération de recherche « Matière et interactions » - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - UT - Université de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique, LPT - Laboratoire de Physique Théorique - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique - FeRMI - Fédération de recherche « Matière et interactions » - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - UT - Université de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique

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Abstract: Using the United Nations Comtrade database, we perform the Google matrix analysis of the multiproduct World Trade Network (WTN) for the years 2018-2020 comprising the emergence of the COVID-19 as a global pandemic. The applied algorithms -- the PageRank, the CheiRank and the reduced Google matrix -- take into account the multiplicity of the WTN links providing new insights on the international trade comparing to the usual import-export analysis. These algorithms establish new rankings and trade balances of countries and products considering every countries on equal grounds, independently of their wealth, and every products on the basis of their relative exchanged volumes. In comparison with the pre-COVID-19 period, significant changes in these metrics occur for the year 2020 highlighting a major rewiring of the international trade flows induced by the COVID-19 pandemic crisis. We define a new PageRank-CheiRank product trade balance, either export or import oriented, which is significantly perturbed by the pandemic.

Date: 2022-02-24
New Economics Papers: this item is included in nep-int
Note: View the original document on HAL open archive server: https://hal.science/hal-03536528v1
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Published in Entropy, 2022, ⟨10.3390/e24030327⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03536528

DOI: 10.3390/e24030327

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