Related papers: Improving the Economic Complexity Index
For those concerned with the long-term value of their accounts, it can be a challenge to plan in the present for inflation-adjusted economic growth over coming decades. Here, I argue that there exists an economic constant that carries…
We develop a complexity measure for large-scale economic systems based on Shannon's concept of entropy. By adopting Leontief's perspective of the production process as a circular flow, we formulate the process as a Markov chain. Then we…
The use of emergent constraints to quantify uncertainty for key policy relevant quantities such as Equilibrium Climate Sensitivity (ECS) has become increasingly widespread in recent years. Many researchers, however, claim that emergent…
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…
Scientific and technological progress is largely driven by firms in many domains, including artificial intelligence and vaccine development. However, we do not know yet whether the success of firms' research activities exhibits dynamic…
Economic Policy Uncertainty (EPU) represents the uncertainty realized by the investors during economic policy alterations. EPU is a critical indicator in economic studies to predict future investments, the unemployment rate, and recessions.…
Structural transformation, the shift from agrarian economies to more diversified industrial and service-based systems, is a key driver of economic development. However, in low- and middle-income countries (LMICs), data scarcity and…
A key element to understand complex systems is the relationship between the spatial scale of investigation and the structure of the interrelation among its elements. When it comes to economic systems, it is now well-known that the…
The process of European integration resulted in a marked increase in transnational economic flows, yet regional inequalities along many developmental indicators remain. We analyze the unevenness of European economies with respect to the…
We are at the beginning of a new age in which artificial entities will perform significant amounts of high-level cognitive processing rivaling and even surpassing human thinking. The future belongs to those who can best collaborate with…
Can the knowledge base of an economy be measured? In this study, we combine the perspective of regional economics on the interrelationships among technology, organization, and territory with the triple-helix model, and offer the mutual…
The rapid advancement of artificial intelligence (AI) technologies presents both unprecedented opportunities and significant challenges for sustainable economic development. While AI offers transformative potential for addressing…
Civilization produces knowledge, which acts as the driving force of its development. A macro-model of civilization that accounts for the effect of knowledge production on population, energy consumption and environmental conditions is…
The academia and industry are characterized by a reciprocal shaping and dynamic feedback mechanism. Despite distinct institutional logics, they have adapted closely in collaborative publishing and talent mobility, demonstrating tension…
The growing instability of both global and domestic economic environments has increased the risk of financial distress at the household level. However, traditional econometric models often rely on delayed and aggregated data, limiting their…
A review of economic approaches showed the lack of a universal method for assessing management decisions in the face of an increasing volume of analyzed data and changing parameters of the external environment. The method of integral…
We present a circularity transition index based on open data principles and circularity of energy, material, and information. The aim of the Circular City Index is to provide data and a succinct measurement of the attributes related to…
We show that the space in which scientific, technological and economic developments interplay with each other can be mathematically shaped using pioneering multilayer network and complexity techniques. We build the tri-layered network of…
A measure for the complexity of a differentiable function f(x) on an interval is introduced. It is based on approximations of the function by piecewise constant functions. The measure takes into account the quality of the approximation and…
Labor share, the fraction of economic output accrued as wages, is inexplicably declining in industrialized countries. Whilst numerous prior works attempt to explain the decline via economic factors, our novel approach links the decline to…