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2/2023 vol. 16
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ORIGINAL ARTICLE
RESILIENCE MECHANISMS OF THE EUROPEAN TRADE NETWORK DURING THE PANDEMIC
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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
4
Economic Cybernetics and Statistics Doctoral School, Faculty of Cybernetics, Statistics and Economic Informatics,, Bucharest University of Economic Studies, Romania
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Faculty of Cybernetics, Statistics and Economic Informatics, Bucharest University of Economic Studies, Romania
CORRESPONDING AUTHOR
Ioana Manafi   

Department of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, Bucharest, Romania
Submission date: 2023-04-25
Final revision date: 2023-05-15
Acceptance date: 2023-05-16
Online publication date: 2023-06-29
Publication date: 2023-06-29
 
Economic and Regional Studies 2023;16(2):171–185
DOI: https://doi.org/10.2478/ers-2023-0012
 
 
Article (PDF)
References (25)
 
KEYWORDS
European trade
import
export
network analysis
resilience
robustness
 
JEL CLASSIFICATION CODES
F02
F14
F44
D85
L14
 
TOPICS
International Relations/Trade
 
ABSTRACT
Subject and purpose of work: The economic crisis generated by COVID-19 pandemic was fundamentally different from those of the past, with unforeseen implication on supply-chains and European trade. As the literature regarding pandemic is quite vast we used bibliometric techniques 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 characterize the European commerce, network analysis was employed using Eurostat data of imports and exports in the following years: 2018, 2019 and 2020. We used also trade value indices to characterized 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 characterize the compactness of the network, showing that the European trade network is characterized by robustness. Conclusions: Cascading failure has a low probability of occurrence.
 
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