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The COVID-19 pandemic and the world trade network

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  • Kiyota, Kozo

Abstract

Global trade suffered a significant contraction in 2020 as a result of the COVID-19 pandemic, and its growth is expected to remain below the pre-pandemic trend. Did the relative importance of countries in the world trade network change as a result of the pandemic? The answer to this question is particularly important for the Association of Southeast Asian Nations (ASEAN) countries because of their relative importance in world trade as well as their strong trade linkages with China, where the COVID-19 virus originated. This paper examines how the world trade network has changed since the COVID-19 pandemic, with a particular focus on ASEAN countries. Tracking the changes in centrality from January 2000 to March 2021, we find no evidence for most ASEAN and major trading countries that centrality changed significantly after the pandemic began. Our results suggest the resilience of the trade pattern for these countries.

Suggested Citation

  • Kiyota, Kozo, 2022. "The COVID-19 pandemic and the world trade network," Journal of Asian Economics, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:asieco:v:78:y:2022:i:c:s1049007821001470
    DOI: 10.1016/j.asieco.2021.101419
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    Cited by:

    1. Adrian Tudor Tudorache & Luminița Nicolescu, 2023. "Insights about the Effects of COVID-19 on International Trade during the Main Pandemic Years in Romania and Poland," Sustainability, MDPI, vol. 15(11), pages 1-20, May.
    2. Sun, Tongtong & Nie, Peng & Liu, Xiaoxia & Gu, Weiyu, 2024. "Ways to make mineral resource trade flows sustainable," Resources Policy, Elsevier, vol. 90(C).
    3. Shah, Sayar Ahmad & Garg, Bhavesh, 2023. "Testing policy effectiveness during COVID-19: An NK-DSGE analysis," Journal of Asian Economics, Elsevier, vol. 84(C).
    4. Alper Yilmaz, 2022. "Intra-BRICS Trade: A Panel Data Analysis with Structural Breaks," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 72(72-2), pages 653-687, December.
    5. Kozo Kiyota, 2023. "The COVID-19 Pandemic and World Machinery Trade Network," Working Papers DP-2023-10, Economic Research Institute for ASEAN and East Asia (ERIA).
    6. Tudorache Adrian Tudor, 2023. "The Influence of COVID-19 on Exports and Imports European Cases during 2020-2021," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 17(1), pages 330-338, July.
    7. Nathapornpan Piyaareekul Uttama, 2023. "Revisiting the Impacts of COVID-19 Government Policies and Trade Measures on Trade Flows: A Focus on RCEP Nations," Working Papers DP-2023-17, Economic Research Institute for ASEAN and East Asia (ERIA).
    8. LIANG, Licheng, 2023. "Resilience of Japanese Multinational Enterprises' Production Networks during the COVID-19 Pandemic," Discussion Paper Series 742, Institute of Economic Research, Hitotsubashi University.
    9. Isaac Appiah-Otoo & Xudong Chen & Na Song & Camara Kwasi Obeng, 2023. "Impact of third-party online payment systems on trade, export, import, and internet retailing," Journal of Information Economics, Anser Press, vol. 1(3), pages 28-42, October.
    10. Hancock, Mary Everett & Mora, Jesse, 2023. "The Impact of COVID-19 on Chinese trade and production: An empirical analysis of processing trade with Japan and the US," Journal of Asian Economics, Elsevier, vol. 86(C).

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    More about this item

    Keywords

    International trade; COVID-19 pandemic; Network; Centrality; Resilience;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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