Assessing the Stability of the Core/Periphery Structure and Mobility in the Post-2008 Global Crisis Era

Abstract

How did the hierarchy of the world-system adapt to the impact of the 2008–09 global economic crisis? How did a country's position in the world-system influence their upward mobility during the crisis? This paper investigates the core/periphery hierarchy of the global trade network before and after the 2008–09 crisis. The central argument posits that the global trade network follows a core/periphery hierarchy in relation to the new international division of labor (NIDL) in the twenty-first century, and a country's placement within that hierarchy had a varying effect on their upward mobility following the 2008–09 crisis. Utilizing social network analysis of 191 countries engaged in global trade, I discover that the core/periphery structure remained unchanged after the 2008–09 global financial crisis, although many countries in intermediate positions experienced upward shifts. However, not all countries were able to achieve upward mobility, indicating that only a few semi-peripheral and peripheral countries were better positioned to improve their status compared to most non-core countries.