International trade and financial integration: a weighted network analysis
用加权网络分析研究国际贸易与金融网络的结构,发现贸易网络更密集,金融网络核心-边缘结构更明显,高收入国家联系紧密,这解释了金融危机先在发达国家间蔓延再到新兴市场。
The authors analyse patterns of international trade and financial integration using complex network analysis. The combination of both binary and weighted approaches delivers more precise and thorough insights into the topological structure and properties of international trade and financial networks (ITN and IFN). It is found that the ITN is more densely connected than the IFN, while both types of network display a core-periphery structure. This hierarchical organization is more pronounced in financial markets, suggesting that the bulk of trade in financial assets occurs through a handful of countries acting as hubs. High-income countries are better linked and form groups of tightly interconnected nodes. This kind of structure can explain why the recent financial crisis has spread rapidly among advanced countries while reaching emerging markets only in a second phase.