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Interpreting economic complexity

Abstract:

Two network measures known as the economic complexity index (ECI) and product complexity index (PCI) have provided important insights into patterns of economic development. We show that the ECI and PCI are equivalent to a spectral clustering algorithm that partitions a similarity graph into two parts. The measures are also closely related to various dimensionality reduction methods, such as diffusion maps and correspondence analysis. Our results shed new light on the ECI's empirical success i...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Publisher's Version

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Publisher copy:
10.1126/sciadv.aau1705

Authors


More by this author
Institution:
University of Oxford
Division:
Institute for New Economic Thinking
ORCID:
0000-0003-2729-3037
More by this author
Institution:
University of Oxford
Division:
MPLS Division
Department:
Mathematical Institute
ORCID:
0000-0001-7871-073X
More by this author
Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Economics
Oxford college:
St Catherines College
Publisher:
American Association for the Advancement of Science Publisher's website
Journal:
Science Advances Journal website
Volume:
5
Issue:
1
Pages:
eaau1705
Publication date:
2019-01-09
Acceptance date:
2018-12-03
DOI:
EISSN:
2375-2548
Pubs id:
pubs:965602
URN:
uri:24475b9a-34a1-4c6a-ba73-f7e19d400032
UUID:
uuid:24475b9a-34a1-4c6a-ba73-f7e19d400032
Local pid:
pubs:965602
Language:
English

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