Related papers: Improving the Economic Complexity Index
The Fourth Industrial Revolution commonly refers to the accelerating technological transformation that has been taking place in the 21st century. Economic growth theories which treat the accumulation of knowledge and its effect on…
Poor economies not only produce less; they typically produce things that involve fewer inputs and fewer intermediate steps. Yet the supply chains of poor countries face more frequent disruptions---delivery failures, faulty parts, delays,…
Societal complexity may be at a historical peak. Distinct from entropy, complexity tends to rise as systems move away from order, crest at an intermediate state, and decline as entropy continues increasing. The use of a thermodynamic…
For promoting the development of the marine economy more sustainably, based on the data envelopment analysis method and combined with the impact of the marine environment, the environmental performance of the marine economy was evaluated…
The shift from industrial economy to knowledge economy in today's world has revolutionalized strategic planning in organizations as well as their problem solving approaches. The point of focus today is knowledge and service production with…
Modern macroeconomic theories were unable to foresee the last Great Recession and could neither predict its prolonged duration nor the recovery rate. They are based on supply-demand equilibria that do not exist during recessionary shocks.…
The main purpose of this paper is to generalize some recent results obtained by Chilarescu and Manuel Gomez. Essentially, we are trying to study the effect of elasticity of substitution on the parameters of economic growth, based on its two…
This paper presents a novel machine learning approach to GDP prediction that incorporates volatility as a model weight. The proposed method is specifically designed to identify and select the most relevant macroeconomic variables for…
We study the relationship between firms' performance and their technological portfolios using tools borrowed from the complexity science. In particular, we ask whether the accumulation of knowledge and capabilities related to a coherent set…
Can we use data on the biographies of historical figures to estimate the GDP per capita of countries and regions? Here we introduce a machine learning method to estimate the GDP per capita of dozens of countries and hundreds of regions in…
The persistent mutual information (PMI) is a complexity measure for stochastic processes. It is related to well-known complexity measures like excess entropy or statistical complexity. Essentially it is a variation of the excess entropy so…
With a steadily growing population and rapid advancements in technology, the global economy is increasing in size and complexity. This growth exacerbates global vulnerabilities and may lead to unforeseen consequences such as global…
Against the background of renewed interest in vertical support policies targeting specific industries or technologies, we investigate the effects of vertical vs. horizontal policies in a combinatorial model of economic development. In the…
It was not until the beginning of the 1990s that the effects of information and communication technology on economic growth as well as on the profitability of enterprises raised the interest of researchers. After giving a general…
Using the Triple Helix model of university-industry-government relations, one can measure the extent to which innovation has become systemic instead of assuming the existence of national (or regional) systems of innovations on a priori…
The world is changing at an ever-increasing pace. And it has changed in a much more fundamental way than one would think, primarily because it has become more connected and interdependent than in our entire history. Every new product, every…
The rapid rise of international collaboration over the past three decades, demonstrated in coauthorship of scientific articles, raises the question of whether countries benefit from cooperative science and how this might be measured. We…
This paper constructs a global economic policy uncertainty index through the principal component analysis of the economic policy uncertainty indices for twenty primary economies around the world. We find that the PCA-based global economic…
The goal of this research is to uncover the channels through which research and development (R&D) impacts economic growth in developing countries. The study employed nine variables from three broader categories in the World Economic Forum…
The need for timely data analysis for economic decisions has prompted most economists and policy makers to search for non-traditional supplementary sources of data. In that context, text data is being explored to enrich traditional data…