Related papers: A Simple Measure of Economic Complexity
Using the economic complexity methodology on data for disease prevalence in 195 countries during the period of 1990-2016, we propose two new metrics for quantifying the relatedness between diseases, or the `disease space' of countries. With…
In this paper the correlation between education, research and macroeconomic strength of countries at a global scale is analyzed on the basis of statistical data published by the UNIDO and OECD. It uses sets of composite indicators…
We build on the interpretation of the Economic Complexity method as Correspondence Analysis (CA), and propose that the Canonical form of CA (CCA), which originated in the ecology literature, can be used to calculate multi-dimensional…
Recent studies have found evidence of a negative association between economic complexity and inequality at the country level. Moreover, evidence suggests that sophisticated economies tend to outsource products that are less desirable (e.g.…
Product diversity, which is highly important in economic systems, has been highlighted by recent studies on international trade. We found an empirical pattern, designated as the "S-shaped curve", that models the relationship between…
We show how the Shannon entropy function can be used as a basis to set up complexity measures weighting the economic efficiency of countries and the specialization of products beyond bare diversification. This entropy function guarantees…
Classic economic science is reaching the limits of its explanatory powers. Complexity science uses an increasingly larger set of different methods to analyze physical, biological, cultural, social, and economic factors, providing a broader…
Economic Complexity (EC) methods have gained increasing popularity across fields and disciplines. In particular, the EC toolbox has proved particularly promising in the study of complex and interrelated phenomena, such as the transition…
Economic complexity algorithms aim to uncover the hidden capabilities that drive economic systems. Here, we present a fundamental reinterpretation of two of these algorithms, the Economic Complexity Index (ECI) and the Economic Fitness and…
Economic growth is measured as the rate of relative change in gross domestic product (GDP) per capita. Yet, when incomes follow random multiplicative growth, the ensemble-average (GDP per capita) growth rate is higher than the time-average…
We explore economic competitiveness of Indian states based on the economic complexity algorithm, using a pair of coupled non-linear maps to characterize the Fitness of states and Complexity of products exported by them. We find that states…
Economic growth is often associated with diversification of economic activities. Making a product in a country is dependent on having, and acquiring, the capabilities needed to make the product, making the process path-dependent. We derive…
In this paper we offer a way to measure the knowledge base of an economy in terms of probabilistic entropy. This measure, we hypothesize, is an indication of the extent to which a system, including the economic system, self-organizes. In a…
Knowledge amount is an integral indicator of the development of society. Humanity produces knowledge in response to challenges from nature and society. Knowledge production depends on population size and human productivity. Productivity is…
This study examines the relationship between trade openness, logistics performance, and economic growth within G20 economies. Using a Bootstrap Autoregressive Distributed Lag (ARDL) model augmented by a dynamic error correction mechanism…
Gross Domestic Product(GDP) is a widely used measurement of economic growth representing the market value of all final goods and services produced by a country within a given time. In this paper we question the assumption that GDP measures…
The relatedness between a country or a firm and a product is a measure of the feasibility of that economic activity. As such, it is a driver for investments at a private and institutional level. Traditionally, relatedness is measured using…
We analyze the decisive role played by the complexity of economic systems at the onset of the industrialization process of countries over the past 50 years. Our analysis of the input growth dynamics, based on a recently introduced measure…
Research in Data Envelopment Analysis has created rankings of the ecological efficiency of countries' economies. At the same time, research in economic complexity has provided new methods to depict productive structures and has analyzed how…
This study explores the relationship between personality diversity and national economic performance, introducing the Global Personality Diversity Index (${\Psi}$-GPDI) as a novel metric. Leveraging a dataset of 760,242 individuals across…