Comparative study on transmission mechanism of supply shortage risk in the international trade of iron ore, pig iron and crude steel

Xiaoqing Hao and Haizhong An

Resources Policy, 2022, vol. 79, issue C

Abstract: Steel is a basic industrial raw material, and it has a wide range of applications in all areas of production and life in the society. Countries carry out international steel trade to ensure their economic development. Applying complex network theory, this paper constructs the steel international trade multiplex network. Based on complex network cascade failure, this paper constructed supply risk transmission model in the international steel trade multiplex network to study the supply risk transmission mechanism. The results show that as the supply shock increasing, countries affected by the supply shortage risk are gradually increasing. The key transmission sources are Russia, Australia, Brazil and other countries. The supply shortage risk transmission route starts from one source, after pass through several intermediary countries, spreading to the entire iron ore, pig iron and crude steel international trade network, showing a multi-core radiation network structure. In the process of transmission, small associations are formed due to the close cooperation. Thus, it is very significant to study the supply risk transmission mechanism in the international steel trade multiplex network, so that it can make recommendations for governments to formulate international trade and industrial adjustment policies of steel industry from a more macro perspective.

Keywords: International trade; Complex network; Supply shortage; Risk transmission; Iron and steel (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301420722004652
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:79:y:2022:i:c:s0301420722004652

DOI: 10.1016/j.resourpol.2022.103022

Access Statistics for this article

Resources Policy is currently edited by R. G. Eggert

More articles in Resources Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().