Progression to Higher Economic Complexity: The Role of Institutions

Dung Phuong Hoang () and Lan Khanh Chu ()
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Dung Phuong Hoang: Banking Academy of Vietnam
Lan Khanh Chu: Banking Academy of Vietnam

Journal of the Knowledge Economy, 2023, vol. 14, issue 4, No 31, 4339-4366

Abstract: Abstract This paper attempts to examine the impact of institutional quality on economic complexity. We employ system general method of moments in a sample of 98 countries from 2002 to 2017. The empirical analysis consistently shows that (1) institutional quality has a positive impact on economic sophistication; (2) each component of institutions has a distinct effect on economic sophistication; and (3) the contribution of institutions on economic sophistication across country sub-groups is heterogeneous. The study implies that different countries require different sets of institutions for enhancing economic sophistication.

Keywords: Dynamic panel; Economic complexity; Institutions; Productivity knowledge; System GMM (search for similar items in EconPapers)
JEL-codes: E02 O1 P48 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s13132-022-01059-x

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