Dresden 2017 – scientific programme

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SOE: Fachverband Physik sozio-ökonomischer Systeme

SOE 16: Networks (joint session SOE / DY / BP)

SOE 16.9: Talk

Thursday, March 23, 2017, 12:00–12:15, GÖR 226

Correlations in sectoral value added growth in the global economic network — •Julian Maluck and Reik V. Donner — Potsdam Institute for Climate Impact Research, Germany

Complex supply chains have resulted in increasing interconnectedness within the International Trade Network (ITN). In this context the question arises how industries adapt to changes in the demand and supply of their trading partners. We address this problem by empirically analyzing both positive and negative correlations of value added growth between industries and construct the World Economic Performance Network (WEPN). By comparing topological characteristics of the WEPN and the ITN we obtain insights into the interconnection between trade relations and correlations in economic performance. We observe that trade relations of higher orders are particularly important for assessing performance correlations on an international level. Our results contribute to a better understanding of the consequences from demand and supply changes within the ITN from a model-independent analysis.