Measuring the intangibles: a metrics for the economic complexity of countries and products.

We investigate a recent methodology we have proposed to extract valuable information on the competitiveness of countries and complexity of products from trade data. Standard economic theories predict a high level of specialization of countries in specific industrial sectors. However, a direct analys...

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Autores principales:	Matthieu Cristelli, Andrea Gabrielli, Andrea Tacchella, Guido Caldarelli, Luciano Pietronero
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2013
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/da8bef9990034e93872464aefe08ccda
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spelling	oai:doaj.org-article:da8bef9990034e93872464aefe08ccda2021-11-18T09:01:16ZMeasuring the intangibles: a metrics for the economic complexity of countries and products.1932-620310.1371/journal.pone.0070726https://doaj.org/article/da8bef9990034e93872464aefe08ccda2013-01-01T00:00:00Zhttps://www.ncbi.nlm.nih.gov/pmc/articles/pmid/23940633/pdf/?tool=EBIhttps://doaj.org/toc/1932-6203We investigate a recent methodology we have proposed to extract valuable information on the competitiveness of countries and complexity of products from trade data. Standard economic theories predict a high level of specialization of countries in specific industrial sectors. However, a direct analysis of the official databases of exported products by all countries shows that the actual situation is very different. Countries commonly considered as developed ones are extremely diversified, exporting a large variety of products from very simple to very complex. At the same time countries generally considered as less developed export only the products also exported by the majority of countries. This situation calls for the introduction of a non-monetary and non-income-based measure for country economy complexity which uncovers the hidden potential for development and growth. The statistical approach we present here consists of coupled non-linear maps relating the competitiveness/fitness of countries to the complexity of their products. The fixed point of this transformation defines a metrics for the fitness of countries and the complexity of products. We argue that the key point to properly extract the economic information is the non-linearity of the map which is necessary to bound the complexity of products by the fitness of the less competitive countries exporting them. We present a detailed comparison of the results of this approach directly with those of the Method of Reflections by Hidalgo and Hausmann, showing the better performance of our method and a more solid economic, scientific and consistent foundation.Matthieu CristelliAndrea GabrielliAndrea TacchellaGuido CaldarelliLuciano PietroneroPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 8, Iss 8, p e70726 (2013)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Matthieu Cristelli Andrea Gabrielli Andrea Tacchella Guido Caldarelli Luciano Pietronero Measuring the intangibles: a metrics for the economic complexity of countries and products.
description	We investigate a recent methodology we have proposed to extract valuable information on the competitiveness of countries and complexity of products from trade data. Standard economic theories predict a high level of specialization of countries in specific industrial sectors. However, a direct analysis of the official databases of exported products by all countries shows that the actual situation is very different. Countries commonly considered as developed ones are extremely diversified, exporting a large variety of products from very simple to very complex. At the same time countries generally considered as less developed export only the products also exported by the majority of countries. This situation calls for the introduction of a non-monetary and non-income-based measure for country economy complexity which uncovers the hidden potential for development and growth. The statistical approach we present here consists of coupled non-linear maps relating the competitiveness/fitness of countries to the complexity of their products. The fixed point of this transformation defines a metrics for the fitness of countries and the complexity of products. We argue that the key point to properly extract the economic information is the non-linearity of the map which is necessary to bound the complexity of products by the fitness of the less competitive countries exporting them. We present a detailed comparison of the results of this approach directly with those of the Method of Reflections by Hidalgo and Hausmann, showing the better performance of our method and a more solid economic, scientific and consistent foundation.
format	article
author	Matthieu Cristelli Andrea Gabrielli Andrea Tacchella Guido Caldarelli Luciano Pietronero
author_facet	Matthieu Cristelli Andrea Gabrielli Andrea Tacchella Guido Caldarelli Luciano Pietronero
author_sort	Matthieu Cristelli
title	Measuring the intangibles: a metrics for the economic complexity of countries and products.
title_short	Measuring the intangibles: a metrics for the economic complexity of countries and products.
title_full	Measuring the intangibles: a metrics for the economic complexity of countries and products.
title_fullStr	Measuring the intangibles: a metrics for the economic complexity of countries and products.
title_full_unstemmed	Measuring the intangibles: a metrics for the economic complexity of countries and products.
title_sort	measuring the intangibles: a metrics for the economic complexity of countries and products.
publisher	Public Library of Science (PLoS)
publishDate	2013
url	https://doaj.org/article/da8bef9990034e93872464aefe08ccda
work_keys_str_mv	AT matthieucristelli measuringtheintangiblesametricsfortheeconomiccomplexityofcountriesandproducts AT andreagabrielli measuringtheintangiblesametricsfortheeconomiccomplexityofcountriesandproducts AT andreatacchella measuringtheintangiblesametricsfortheeconomiccomplexityofcountriesandproducts AT guidocaldarelli measuringtheintangiblesametricsfortheeconomiccomplexityofcountriesandproducts AT lucianopietronero measuringtheintangiblesametricsfortheeconomiccomplexityofcountriesandproducts
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Measuring the intangibles: a metrics for the economic complexity of countries and products.

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