title: Hubs and authorities in the world trade network using a weighted HITS algorithm.
abstract: We investigate the economic hubs and authorities of the world trade network (WTN) from 1992 to 2012, an era of rapid economic globalization. Using a well-defined weighted hyperlink-induced topic search (HITS) algorithm, we can calculate the values of the weighted HITS hub and authority for each country in a conjugate way. In the context of the WTN, authority values are large for countries with significant imports from large hub countries, and hub values are large for countries with significant exports to high-authority countries. The United States was the largest economic authority in the WTN from 1992 to 2012. The authority value of the United States has declined since 2001, and China has now become the largest hub in the WTN. At the same time, China's authority value has grown as China is transforming itself from the "factory of the world" to the "market of the world." European countries show a tendency to trade mostly within the European Union, which has decreased Europe's hub and authority values. Japan's authority value has increased slowly, while its hub value has declined. These changes are consistent with Japan's transition from being an export-driven economy in its high economic growth era in the latter half of the twentieth century to being a more mature, economically balanced nation.
authors: Department of Computational Intelligence and Systems Science, Interdisciplinary Graduate School of Science and Engineering, Tokyo Institute of Technology, Midori-ku, Yokohama, Japan.
authors: Tsuyoshi
authors: T
authors: Deguchi
authors: Department of Computational Intelligence and Systems Science, Interdisciplinary Graduate School of Science and Engineering, Tokyo Institute of Technology, Midori-ku, Yokohama, Japan; Department of Economics, Kokugakuin University, Shibuya-ku, Tokyo, Japan.
authors: Katsuhide
authors: K
authors: Takahashi
authors: Sony Computer Science Laboratories, Shinagawa-ku, Tokyo, Japan; Graduate School for Advanced Mathematical Sciences, Meiji University, Tokyo, Japan.
authors: Hideki
authors: H
authors: Takayasu
authors: Department of Computational Intelligence and Systems Science, Interdisciplinary Graduate School of Science and Engineering, Tokyo Institute of Technology, Midori-ku, Yokohama, Japan.
authors: Misako
authors: M
authors: Takayasu
mesh_terms: D000465:Algorithms; D002681:China; D003132:Commerce / Q000639:trends*; D003906:Developing Countries; D057217:Economic Development; D005062:European Union / Q000191:economics; D006801:Humans; D007564:Japan; D018803:Models, Economic; D014481:United States