Before revision:  Using the recently available World Input-Output Database , we modeled the evolving world economic network ( from 1995 to 2011 ) with a series of time-homogeneous finite Markov chains.
After revision: The initial theoretical connections between Leontief input-output models and Markov chains were established back in 1950s. However, considering the wide variety of mathematical properties of Markov chains, there has not been a full investigation of evolving world economic networks with Markov chain formalism. Using the recently available World Input-Output Database , we modeled the evolving world economic network ( from 1995 to 2011 ) with a series of time-homogeneous finite Markov chains.