In this paper we compare the degree and patterns of trade and financial integration exploiting network analysis. We start from a simple binary analysis and then move to a more appropriate weighted approach, presenting a detailed overview of international goods and financial markets integration, and compare their main characteristics. Moving from binary to weighted analysis changes considerably the properties of the networks, and with them the picture of the integration process. Limiting to a binary approach can thus lead to a misrepresentation of the underlying economic phenomena. We find that the trade network is almost fully connected while international financial integration is less pervasive. Also, regional links continue to play a relevant role.
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US Financial Industry to Replace Dollar with Foo
US Financial Industry to Replace Dollar with Food Stamps
As experts ponder the implications of America's stepping-back from world political leadership, finance professionals are openly discussing what the world will be like without the US dollar as the primary unit of international and domestic trade. In the meantime, American businesses are considering the benefits of a new economy based on food stamps.
"While the dollar's future is glum, the food stamp is on its ascendency," said Melanie Carnegie, a senior financial analyst at the non-partisan Cloward-Piven Strategy Institute in Washington, DC