Complex economies have a lateral escape from the poverty trap

Emanuele Pugliese, Guido L. Chiarotti, Andrea Zaccaria and Luciano Pietronero

Papers from arXiv.org

Abstract: We analyze the decisive role played by the complexity of economic systems at the onset of the industrialization process of countries over the past 50 years. Our analysis of the input growth dynamics, based on a recently introduced measure of economic complexity, reveals that more differentiated and more complex economies face a lower barrier (in terms of GDP per capita) when starting the transition towards industrialization. Moreover, adding the complexity dimension to the industrialization process description helps to reconcile current theories with empirical findings.

Date: 2015-11
New Economics Papers: this item is included in nep-hme
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1511.08622

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