Complexity economic indexes for the energy market: Evidence during extreme global changes

Pengcheng Song, Pang Paul Wang, Baozhen Zhang, Xuan Zhang and Xiangyu Zong

Energy Economics, 2021, vol. 96, issue C

Abstract: This paper extends the complex economic index to measure the energy dependence of each country’s industrial structure, subject to the global trade framework. The Energy Dependence Competitiveness (EDC) Index and Energy Layout Complexity (ELC) Index are proposed, based on the Competitiveness and Economic Fitness (EF) algorithm. EDC reveals the industrial competitiveness of each country that relies on high energy-dependent industries. ELC reflects the fraction of energy-dependent industries involved in competitive industries. The empirical results show that EDC and ELC indices provide good explanations of economic performance, endowments and energy industries’ structure before, during and after the extreme change in the Energy Market in 2008.

Keywords: Economic fitness; Energy-dependence and energy-layout complexity; Economic performance; Extreme changes (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:96:y:2021:i:c:s0140988321000530

DOI: 10.1016/j.eneco.2021.105148

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