The complex dynamic of growth: Fitness and the different patterns of economic activity in the medium and long terms

Structural Change(s) in Ghana: A Comparison between the Trade, Formal and Informal Sectors

“…The results show a strong correlation between district average ICI and district economic development. This is in line with a growing stream of work showing that economic complexity is a good predictor of economic development (Castañeda, Pietronero, Romero-Padilla, & Zaccaria, 2022;Cristelli, Tacchella, Cader, Roster, & Pietronero, 2017;Tacchella, Mazzilli, & Pietronero, 2018).…”

Give me a U, give me a V, give me an L!: How effective are countercyclical policies in shaping the output dynamic during recessions

“…The complex dynamic of long‐term growth refers to the idea that a GDP time series is composed of sequences of short‐term spells exhibiting different patterns (Castañeda et al., 2022). Accordingly, a thorough empirical study of the difference in economic growth between countries must go beyond the analysis of 5–10 years averages, like in Barro (1991), and instead study in more detail the different features observed in the short‐term dynamics of business cycles, as indicated in Pritchett (2000), Ben‐David and Papell (1998) and Hausmann et al.…”

“…This modeling approach is used frequently for analyzing microeconomic choices in decision problems but not as much in the macroeconomic literature. Three macro‐application of this method are the study of countries selecting exchange rate regimes (Dubas et al., 2010; Papaioannou, 2003; Álvarez et al., 2011), the country risk analysis of foreign direct investments (McGowan & Moeller, 2005) and the study of economic growth and structural change in the medium term (Castañeda et al., 2022). Consequently, this paper is the first application of multinomial regressions for studying output dynamics in episodes of recession and their subsequent recovery.…”

What drives the creation of green jobs, products and technologies in cities and regions? Insights from recent research on green industrial transitions

“…Quantifying this idea via an iterative algorithm, the Economic Complexity Index (Hidalgo and Hausmann, 2009) infers the diversity and rarity of capabilities present in a location based on international patterns of export production, and is highly correlated with GDP growth. A range of alternative metrics aiming to infer the economic complexity of places (countries/cities/regions) and economic activities (products/industries/technologies) have subsequently been proposed (Castañeda et al, 2022; Hausmann et al, 2011; 2014; Kline and Boyd, 2010; Tacchella et al, 2012), and the topic remains an active field of research.…”