International Economic Integration: Comparing Exports and FDI Networks in the New Millennium

Trade and foreign direct investments (FDI) represent the real capital side of international economic integration. While Network Analysis (NA) on world trade network (WTN) is wide, few analyses describe investment networks (WIN), since FDI data suitable for comparison are very scarce complex to collect. In this paper, we exploit Bilateral Statistics by UNCTAD (2014), compare WTN WIN in first decade new millennium, before after 2008 crisis. Results show that all countries integrated there isolated economies, unique largest components emerge confirming complexity global value chain. crisis affected WTN, but not WIN. Geography, rather than similarity, crucial defining trading connections cohesive subgroups. links mutual networks, once a link established, it easier maintain commercial relations. key players USA, Germany China Exports, while USA FDI. There positive association between couplets links, conjecturing Exports could be complements, substitute.