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Application of the Economic Complexity Index in Macro-Financial Models

Author

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  • A. K. Moiseev

    (Institute for Economic Forecasting, Russian Academy of Sciences)

  • P. A. Bondarenko

    (Institute for Economic Forecasting, Russian Academy of Sciences)

Abstract

This paper discusses the economic complexity index, principles of its calculation, its interrelation with other economic macroparameters, and advantages and disadvantages of this index from the point of view of the comparative country analysis. The hypothesis about association between the complexity of the economy and the monetization of GDP is substantiated. The hypothesis is verified by econometric analysis, using the manufacturing inventories index. The ways various economies create money through the debt of various sectors are considered.

Suggested Citation

  • A. K. Moiseev & P. A. Bondarenko, 2020. "Application of the Economic Complexity Index in Macro-Financial Models," Studies on Russian Economic Development, Springer, vol. 31(3), pages 318-326, May.
    • Handle: RePEc:spr:sorede:v:31:y:2020:i:3:d:10.1134_s1075700720030120
    DOI: 10.1134/S1075700720030120
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    References listed on IDEAS

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    1. Cesar A. Hidalgo & Ricardo Hausmann, 2009. "The Building Blocks of Economic Complexity," Papers 0909.3890, arXiv.org.
    2. Hartmann, Dominik & Guevara, Miguel R. & Jara-Figueroa, Cristian & Aristarán, Manuel & Hidalgo, César A., 2017. "Linking Economic Complexity, Institutions, and Income Inequality," World Development, Elsevier, vol. 93(C), pages 75-93.
    3. C. A. Hidalgo & B. Klinger & A. -L. Barabasi & R. Hausmann, 2007. "The Product Space Conditions the Development of Nations," Papers 0708.2090, arXiv.org.
    4. Steve Brito & Mr. Nicolas E Magud & Mr. Sebastian Sosa, 2018. "Real Exchange Rates, Economic Complexity, and Investment," IMF Working Papers 2018/107, International Monetary Fund.
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    Cited by:

    1. A. N. Kislyakov, 2022. "Graph Methods for Describing the Trade Profile of a Region," Administrative Consulting, Russian Presidential Academy of National Economy and Public Administration. North-West Institute of Management., issue 2.

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