On the Worldwide Trade Dynamics: Some Fractional Aspects, Extremal Trade Constellations and the Therewith Corresponding Entropy, Restructuring the Trade Environment, and Fundamental Relations
This paper applies fractional diffusion, the CTRW concept, entropy, and small-world network concepts to global export-import dynamics. It estimates space- and time-fractality orders from trade data, developing a varying order interpretation, and discusses several stylized scenarios for protection, clustering, liberalization, and finance-trade restructuring. The main claim is that global trade dynamics exhibit a subdiffusive character and that entropy changes are connected with fractality order and network structure.
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