Economic Complexity for Regional Industrial Strategies

Dario Diodato (), Lorenzo Napolitano (), Emanuele Pugliese and Andrea Tacchella
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Dario Diodato: European Commission - JRC, https://joint-research-centre.ec.europa.eu/index_en
Lorenzo Napolitano: European Commission - JRC, https://joint-research-centre.ec.europa.eu/index_en

No JRC136443, JRC Research Reports from Joint Research Centre

Abstract: Innovation and industrial policies in the EU is often undertaken at regional level. Policymakers that have to design regional industrial strategy need quantitative tools for guidance. Economic complexity can support policymakers especially during the early phase of policy design: patent and trade data are fed into predictive models to assess the chances of success of a strategy. The methods of economic complexity follow the driving principles of machine learning to predict the probability that a region becomes successful in a given technology or product. We present a series of quantitative tools for regions: (1) relative innovation capabilities; (2) expected diversification by sector; (3) expected diversification by product; (4) fitness of a region for a project.

Date: 2023-12
New Economics Papers: this item is included in nep-big, nep-eur, nep-sbm and nep-tid
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