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Quantifying the status of economies in international crop trade networks: A correlation structure analysis of various node-ranking metrics

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  • Zhang, Yin-Ting
  • Zhou, Wei-Xing

Abstract

International food trade is a growing complement to gaps in domestic food supply and demand, but it is vulnerable to disruptions due to some unforeseen shocks. This paper assembles the international crop trade networks using maize, rice, soybean, and wheat trade data sets from 1986 to 2020. We assess the importance of economies using multidimensional node importance metrics. We analyze the correlation structure of different node important metrics based on the random matrix theory and incorporate 20 metrics into a single metric. We find that some metrics have many similarities and dissimilarities, especially those based on the same trade flow directions. We also find that European economies have a significant impact on the iCTNs. Additionally, economies with poor crop production play a major role in import trade, whereas economies with higher food production or smaller populations are crucial to export trade. Our findings have practical implications for identifying key economies in the international crop trade networks, preventing severe damage to the food trade system caused by trade disruptions in some economies, maintaining the stability of the food supply, and ensuring food security.

Suggested Citation

  • Zhang, Yin-Ting & Zhou, Wei-Xing, 2023. "Quantifying the status of economies in international crop trade networks: A correlation structure analysis of various node-ranking metrics," Chaos, Solitons & Fractals, Elsevier, vol. 172(C).
    • Handle: RePEc:eee:chsofr:v:172:y:2023:i:c:s096007792300468x
    DOI: 10.1016/j.chaos.2023.113567
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