Complexity and synchronization of the World trade Web

Xiang Li, Yu Ying Jin and Guanrong Chen

Physica A: Statistical Mechanics and its Applications, 2003, vol. 328, issue 1, 287-296

Abstract: The complex topology of a network determines its dynamics. The world economy is now internationally connected through a globalization process of trading. The complex dynamical behaviors of the world economy have been studied as a dynamical system, but there does not seem to be any consideration of the effect of dynamics on the world trade network. In this paper, we attempt such a study and present the scale-free features of the degree distribution, as well as wealth and resource distributions on the World Trade Web (WTW). Moreover, the synchronization phenomenon of economic cycles on the WTW due to its scale-free features is discussed in detail.

Keywords: Complex network; World Trade Web; Scale-free feature; Economic cycle; Correlation (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (46)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:328:y:2003:i:1:p:287-296

DOI: 10.1016/S0378-4371(03)00567-3

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