Implications of COVID-19 Pandemic on the Global Trade Networks
C. T. VidyaAssistant Professor, Centre for Economic and Social Studies (CESS), Hyderabad, IndiaK.P. PrabheeshAssociate Professor, Indian Institute of Technology Hyderabad, Hyderabad, India
2020en
ABI
Abstract
This article measures the trade interconnectedness among countries before and after the COVID-19 outbreak, and forecasts the future direction of trade. Using Trade Network Analysis and Artificial Neural Networks, our findings show that: (1) There is a drastic reduction in trade interconnectedness, connectivity, and density among countries after the COVID-19 outbreak. (2) There is a visible change in the structure of trade-network (3) China’s ‘center’ position in the trade network is not affected by the pandemic. (4) There will be a drastic decline in trade of most of the economies until December 2020.
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