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Influence of petroleum and gas trade on EU economies from the reduced Google matrix analysis of UN COMTRADE data

Author

Listed:
  • Célestin Coquidé

    (UTINAM - Univers, Théorie, Interfaces, Nanostructures, Atmosphère et environnement, Molécules (UMR 6213) - INSU - CNRS - Institut national des sciences de l'Univers - CNRS - Centre National de la Recherche Scientifique - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Leonardo Ermann

    (CNEA - Comisión Nacional de Energía Atómica [ARGENTINA])

  • José Lages

    (UTINAM - Univers, Théorie, Interfaces, Nanostructures, Atmosphère et environnement, Molécules (UMR 6213) - INSU - CNRS - Institut national des sciences de l'Univers - CNRS - Centre National de la Recherche Scientifique - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

  • Dima Shepelyansky

    (ICQ - Cohérence Quantique (LPT) - LPT - Laboratoire de Physique Théorique - IRSAMC - Institut de Recherche sur les Systèmes Atomiques et Moléculaires Complexes - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique, LPT - Laboratoire de Physique Théorique - IRSAMC - Institut de Recherche sur les Systèmes Atomiques et Moléculaires Complexes - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique)

Abstract

Using the United Nations COMTRADE database we apply the reduced Google matrix (REGOMAX) algorithm to analyze the multiproduct world trade in years 2004-2016. Our approach allows to determine the trade balance sensitivity of a group of countries to a specific product price increase from a specific exporting country taking into account all direct and indirect trade pathways via all world countries exchanging 61 UN COMTRADE identified trade products. On the basis of this approach we present the influence of trade in petroleum and gas products from Russia, USA, Saudi Arabia and Norway determining the sensitivity of each EU country. We show that the REGOMAX approach provides a new and more detailed analysis of trade influence propagation comparing to the usual approach based on export and import flows.

Suggested Citation

  • Célestin Coquidé & Leonardo Ermann & José Lages & Dima Shepelyansky, 2019. "Influence of petroleum and gas trade on EU economies from the reduced Google matrix analysis of UN COMTRADE data," Post-Print hal-02058766, HAL.
    • Handle: RePEc:hal:journl:hal-02058766
    DOI: 10.1140/epjb/e2019-100132-6
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    References listed on IDEAS

    as
    1. Bouchaud,Jean-Philippe & Potters,Marc, 2003. "Theory of Financial Risk and Derivative Pricing," Cambridge Books, Cambridge University Press, number 9780521819169, October.
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    Cited by:

    1. C'elestin Coquid'e & Jos'e Lages & Dima L. Shepelyansky, 2020. "Crisis contagion in the world trade network," Papers 2002.07100, arXiv.org.
    2. Célestin Coquidé & José Lages & Dima Shepelyansky, 2020. "Interdependence of sectors of economic activities for world countries from the reduced Google matrix analysis of WTO data," Post-Print hal-02132487, HAL.
    3. C'elestin Coquid'e & Jos'e Lages & Dima L. Shepelyansky, 2024. "Opinion formation in the world trade network," Papers 2401.02378, arXiv.org, revised Feb 2024.
    4. Célestin Coquidé & José Lages & Leonardo Ermann & Dima Shepelyansky, 2022. "COVID-19 impact on the international trade," Post-Print hal-03536528, HAL.
    5. Célestin Coquidé & José Lages & Dima Shepelyansky, 2024. "Opinion Formation in the World Trade Network," Post-Print hal-04461784, HAL.
    6. Frahm, Klaus M. & Shepelyansky, Dima L., 2020. "Google matrix analysis of bi-functional SIGNOR network of protein–protein interactions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 559(C).
    7. C'elestin Coquid'e & Jos'e Lages & Dima L. Shepelyansky, 2023. "Prospects of BRICS currency dominance in international trade," Papers 2305.00585, arXiv.org.
    8. Guillaume Rollin & José Lages & Dima L Shepelyansky, 2019. "Wikipedia network analysis of cancer interactions and world influence," PLOS ONE, Public Library of Science, vol. 14(9), pages 1-26, September.

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