Integrating Services in the Economic Fitness Approach
Economic Complexity is a set of network-based and algorithmic methods for the study of economic development and competitiveness. In this framework, Economic Fitness is an innovative approach that improves the mathematical and conceptual scheme. For...
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/309521529586431853/Integrating-services-in-the-economic-fitness-approach http://hdl.handle.net/10986/29938 |
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okr-10986-299382021-06-08T14:42:46Z Integrating Services in the Economic Fitness Approach Zaccaria, Andrea Mishra, Saurabh Cader, Masud Pietronero, Luciano SERVICES TRADE SERVICES EXPORTS EXPORT COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC COMPLEXITY ECONOMIC FITNESS GLOBAL TRADE DIVERSIFICATION Economic Complexity is a set of network-based and algorithmic methods for the study of economic development and competitiveness. In this framework, Economic Fitness is an innovative approach that improves the mathematical and conceptual scheme. For convenience, these methods were originally conceived on trade in goods. This paper extends the Economic Fitness methodology to include a trade in services element to yield a universal matrix of world trade and thus provide a more complete picture of a country's development and global competitiveness. The paper applies two algorithms to the universal trade in goods and services matrix to contrast country competitiveness and change in complexity and diversification when services are added to the traditional goods-only matrix. The results show that (i) the competitiveness of many countries was previously over- or underestimated, that is, many countries gain or lose positions in the ranking of economic fitness when services trade is considered alongside goods; and (ii) complex services tend to cluster with complex manufacturing, suggesting a common capabilities structure. These findings show how developing complex services aids diversification strategies for developing countries. 2018-06-28T14:27:39Z 2018-06-28T14:27:39Z 2018-06 Working Paper http://documents.worldbank.org/curated/en/309521529586431853/Integrating-services-in-the-economic-fitness-approach http://hdl.handle.net/10986/29938 English Policy Research Working Paper;No. 8485 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
SERVICES TRADE SERVICES EXPORTS EXPORT COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC COMPLEXITY ECONOMIC FITNESS GLOBAL TRADE DIVERSIFICATION |
| spellingShingle |
SERVICES TRADE SERVICES EXPORTS EXPORT COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC COMPLEXITY ECONOMIC FITNESS GLOBAL TRADE DIVERSIFICATION Zaccaria, Andrea Mishra, Saurabh Cader, Masud Pietronero, Luciano Integrating Services in the Economic Fitness Approach |
| relation |
Policy Research Working Paper;No. 8485 |
| description |
Economic Complexity is a set of
network-based and algorithmic methods for the study of
economic development and competitiveness. In this framework,
Economic Fitness is an innovative approach that improves the
mathematical and conceptual scheme. For convenience, these
methods were originally conceived on trade in goods. This
paper extends the Economic Fitness methodology to include a
trade in services element to yield a universal matrix of
world trade and thus provide a more complete picture of a
country's development and global competitiveness. The
paper applies two algorithms to the universal trade in goods
and services matrix to contrast country competitiveness and
change in complexity and diversification when services are
added to the traditional goods-only matrix. The results show
that (i) the competitiveness of many countries was
previously over- or underestimated, that is, many countries
gain or lose positions in the ranking of economic fitness
when services trade is considered alongside goods; and (ii)
complex services tend to cluster with complex manufacturing,
suggesting a common capabilities structure. These findings
show how developing complex services aids diversification
strategies for developing countries. |
| format |
Working Paper |
| author |
Zaccaria, Andrea Mishra, Saurabh Cader, Masud Pietronero, Luciano |
| author_facet |
Zaccaria, Andrea Mishra, Saurabh Cader, Masud Pietronero, Luciano |
| author_sort |
Zaccaria, Andrea |
| title |
Integrating Services in the Economic Fitness Approach |
| title_short |
Integrating Services in the Economic Fitness Approach |
| title_full |
Integrating Services in the Economic Fitness Approach |
| title_fullStr |
Integrating Services in the Economic Fitness Approach |
| title_full_unstemmed |
Integrating Services in the Economic Fitness Approach |
| title_sort |
integrating services in the economic fitness approach |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/309521529586431853/Integrating-services-in-the-economic-fitness-approach http://hdl.handle.net/10986/29938 |
| _version_ |
1764470854173851648 |