This is a rather fascinating talk by Ricardo Hausmann on his measurement of Economic Complexity in terms of "personbytes" and its predictive value.
There's a lot I want to question and challenge. But well worth thinking about.
The basic idea is to measure the complexity of an economy by looking at both the range of things it exports (the more, the more complex) and the number of other countries who export the same thing (the fewer others per-product, the more complex it's meant to be).
Overall, this statistic is a good predictor of income and future growth. Some papers with his collaborator here.
There's a lot I want to question and challenge. But well worth thinking about.
The basic idea is to measure the complexity of an economy by looking at both the range of things it exports (the more, the more complex) and the number of other countries who export the same thing (the fewer others per-product, the more complex it's meant to be).
Overall, this statistic is a good predictor of income and future growth. Some papers with his collaborator here.
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