Technological Advancements Revolutionize Global Trade, Reshape Economic Landscapes
The study looks at how international trade is influenced by factors like technology levels, transportation costs, and country connections. They used a gravity model that includes various variables to account for different conditions. By analyzing trade between countries based on technology levels and other factors, the researchers found that trade greatly depends on the technological abilities of the countries involved. This means that the amount of trade between two countries is closely linked to how advanced their technology is, showing the importance of technology in international trade relationships.