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Ferrarini, Benno and Scaramozzino, Pasquale (2016) 'Production Complexity, Adaptability and Economic Growth.' Structural Change and Economic Dynamics, 37. pp. 52-61.

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Abstract

This paper analyzes the impact of production complexity and its adaptability on the level of output and on its rate of growth. We develop an endogenous growth model where increased complexity raises the rate of economic growth but has an ambiguous effect on the level of output. Our empirical measure of production adaptability captures the proximity of production sectors within the product space, which we modify to reflect intra-industry trade and the international fragmentation of production. We test the model against a sample of 89 countries over the two decades to 2009 and find that its main predictions are validated.

Item Type: Journal Article
Keywords: product space, production adaptability, economic growth
SOAS Departments & Centres: Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management
Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management > Centre for Financial and Management Studies (CeFiMS)
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
T Technology > T Technology (General)
ISSN: 0954349X
DOI (Digital Object Identifier): https://doi.org/10.1016/j.strueco.2015.12.001
Date Deposited: 17 Feb 2016 17:35
URI: https://eprints.soas.ac.uk/id/eprint/21916

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