This paper investigates the effect of the output and terms of trade volatility on economic complexity. To this end, we apply ordinanry least square, fixed effect and System GMM approach for a panel of 119 countries over the period 1998-2017. The findings reveal that the output and terms of trade volatility negatively affects economic complexity. Our empirical results also indicate that financial development, foreign direct investment, internet and income per capita have a positive effect on economic complexity while natural ressources have a negative effect.
机构:
Univ Catania, Dept Polit & Social Sci, Via V Emanuele 8, I-95100 Catania, ItalyUniv Catania, Dept Polit & Social Sci, Via V Emanuele 8, I-95100 Catania, Italy
Maggioni, Daniela
Lo Turco, Alessia
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Polytech Univ Marche, Dept Econ & Social Sci, Piazzale Martelli 8, I-60121 Ancona, ItalyUniv Catania, Dept Polit & Social Sci, Via V Emanuele 8, I-95100 Catania, Italy
Lo Turco, Alessia
Gallegati, Mauro
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Polytech Univ Marche, Dept Econ & Social Sci, Piazzale Martelli 8, I-60121 Ancona, ItalyUniv Catania, Dept Polit & Social Sci, Via V Emanuele 8, I-95100 Catania, Italy