Resilience Mechanisms of the European Trade Network During the Pandemic-Reference-Cited by-同舟云学术

Resilience Mechanisms of the European Trade Network During the Pandemic

Published:2023-06-01 Issue:2 Volume:16 Page:171-185
ISSN:2451-182X
Container-title:Economic and Regional Studies / Studia Ekonomiczne i Regionalne
language:en
Short-container-title:

Author:

Manafi Ioana¹^ORCID,Huru Dragos²,Dobre Florin³,Capbun Andreea Gabriela¹,Roman Mihai Daniel¹

Affiliation:

1. Department of Economic Informatics and Cybernetics , Bucharest University of Economic Studies , Romania

2. Faculty of Theoretical and Applied Economy , Bucharest University of Economic Studies , Romania

3. Faculty of Accounting and Management Economic Systems , Bucharest University of Economic Studies , Romania

Abstract

Abstract Subject and purpose of work: The economic crisis generated by the COVID-19 pandemic was fundamentally different from those of the past, with unforeseen implication on supply chains and European trade. As the literature regarding the pandemic is vast bibliometric techniques were used to find the most influential themes and authors. The aim of this paper is to test if cascading failure is possible when shocks arise in European trade. Materials and methods: To characterise the European commerce, network analysis was employed using Eurostat data of imports and exports in the following years: 2018, 2019 and 2020. Trade value indices were also used to characterised European trade during the pandemic and Enterprise Survey run by World Bank for in-depth, cross economies comparisons. Results: The results from the network analysis characterise the compactness of the network, showing that the European trade network is characterised by robustness. Conclusions: Cascading failure has a low probability of occurrence.

Publisher

Walter de Gruyter GmbH

Link

https://www.sciendo.com/pdf/10.2478/ers-2023-0012

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