Analysis of the global trade network using exponential random graph models

Applied Network Science

Table 9 Gravity Model estimates and standard errors alongside their significance on edge formation

Configuration	Estimate	Standard error	Significance
Intercept	− 2.985	0.144	***
GDP (Current US$) nodecov	− 0.054	0.019	**
GDP (Current US$) absdiff	0.301	0.025	***
Inflation, consumer prices nodecov	− 0.040	0.025
Inflation, consumer prices absdiff	0.013	0.031
GDP growth nodecov	0.015	0.020
GDP growth absdiff	− 0.059	0.025	*
Is landlocked nodematch	− 0.274	0.040	***
Official language nodematch	− 0.188	0.071	**
Agriculture, forestry, and fishing, value added (% of GDP) nodecov	− 0.047	0.023	*
Agriculture, forestry, and fishing, value added (% of GDP) absdiff	0.078	0.028	**
Industry (including construction), value added (% of GDP) nodecov	0.091	0.023	***
Industry (including construction), value added (% of GDP) absdiff	− 0.146	0.028	***
Merchandise trade (% of GDP) nodecov	0.063	0.019	**
Merchandise trade (% of GDP) absdiff	− 0.016	0.026
Net barter terms of trade index (2000 = 100) nodecov	0.084	0.018	***
Net barter terms of trade index (2000 = 100) absdiff	− 0.103	0.025	***
Foreign direct investment, net inflows nodecov	− 2.195	0.228	***
Foreign direct investment, net inflows absdiff	1.955	0.230	***