Harvard has released an interesting new index of “economic complexity” which is the productive knowledge of the economy, based on analysis of its output composition.
… the Economic Complexity Index (ECI) is based on the number and the complexity of the products that a country exports with comparative advantage. Empirically, countries that do well in this index, given their income level, tend to achieve higher levels of economic growth. The ability to successfully export new products is a reflection of the fact that the country has acquired new productive knowledge that will then open up further opportunities for progress.
The index is then used to make detailed growth projections, and identify export opportunities on a country-by-country basis.
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