2020
DOI: 10.1038/s41467-020-16992-1
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Reconciling contrasting views on economic complexity

Abstract: Summarising the complexity of a country's economy in a single number is the holy grail for scholars engaging in data-based economics. In a field where the Gross Domestic Product remains the preferred indicator for many, economic complexity measures, aiming at uncovering the productive knowledge of countries, have been stirring the pot in the past few years. The commonly used methodologies to measure economic complexity produce contrasting results, undermining their acceptance and applications. Here we show tha… Show more

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Cited by 73 publications
(71 citation statements)
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“…Soon after, additional research followed suit and developed other algorithms to use such high-dimensional data to compute complexity metrics (e.g. [16,20,22]).…”
Section: Discussion and Concluding Remarksmentioning
confidence: 99%
“…Soon after, additional research followed suit and developed other algorithms to use such high-dimensional data to compute complexity metrics (e.g. [16,20,22]).…”
Section: Discussion and Concluding Remarksmentioning
confidence: 99%
“…It is not adequate to limit our attention just on the emergent properties or functions of a system (i.e., its ), and use algorithms, such as the Functional Information, for measuring the degree of Complexity (Szostak 2003 ; Hazen et al 2007 ) . In economy, a metrics of complexity based on the export baskets of the different countries (i.e., their “emergent goods and services”) has been proposed (Sciarra et al 2020 ). The drawback of an incomplete Natural Complexity description is encountered even in sociology and ecology (McShea 1996 ).…”
Section: The Features Of Complex Systemsmentioning
confidence: 99%
“…The works (Hausmann, Rodrik, 2003), (Sciarra, Chiarotti et al, 2020) employ the standardized eigenvector value of matrices 1 2 and 2 1 , respectively, which correspond to the second maximum eigenvalue, as the values of estimates of the economic complexity of regions and sectors. Herewith, it is supposed that own value and coordinates of own vector are real numbers [5,9].…”
Section: Definition (Economic Complexity)mentioning
confidence: 99%