What Economic Complexity Theory Can Tell us about the EU's Pandemic Recovery and Resilience Plans

Corrado Macchiarelli, Ricardo Hausmann, Miguel Santos () and Renato Giacon

No 28, National Institute of Economic and Social Research (NIESR) Policy Papers from National Institute of Economic and Social Research

Abstract: A little over a year ago, the EU's political leaders agreed on an unprecedented fiscal package – dubbed 'Next Generation EU' – to aid Europe's recovery from the pandemic. Ricardo Hausmann, Miguel Angel Santos, Corrado Macchiarelli and Renato Giacon write that economic complexity theories can provide a useful tool for evaluating whether the recovery and resilience plans submitted by EU member states to receive this funding are well-designed. Assessing the case of Greece, they argue that investments should be tailored toward export-oriented sectors and aim to help close the country's product complexity gap with other EU states.

Date: 2021-09
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