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Writer on Atlas of Economic Complexity

Assignment id 1001263
Discipline Other
Assignment type Essay
Words 1273
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Introduction: The book Atlas of Economic Complexity suggests an index that measures just how complex an economy is. The indicator is based upon the hypothesis that what a country produces and exports is a measure of its own economic complexity. They argue that so as to generate certain products, specific knowledge is necessary and that knowledge has to be in that society and must be channeled economically (Hidalgo and Hausmann, The Atlas of Economic Complexity 2011). In their book they all indicate that their complexity index is an accurate predictor of future GDP per capita. According to the book, a market really needs a specific infrastructure, level of schooling, effective markets and organizations that can make the most of their collected knowledge of a nation (Hidalgo and Hausmann, The Atlas of Economic Complexity 2011). This paper will attempt to determine if actually nations with a high economic sophistication index had a increased GDP per capita growth over a 10 year span (from 1990 to2000). Additionally, this paper may control those outcomes using a coefficient of GDP per capita for the year 1990 (in 2005 prices) to ascertain if countries with low initial income per capita grew faster than those with a greater income per capita (or vice versa) over that same 10 year span. This will allow the newspaper to remark on economic convergence as well as economic complexity. Literature Overview The primary purpose of this publication The Atlas of Economic Complexity will be to communicate the idea that the “wealth of countries is driven by successful knowledge. Folks are limited in what they can efficiently know and use in production so that the only way a society could hold more awareness is by dispersing different chunks of awareness into various people” (H.G. 2011). .

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