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WIFO Research Seminar (Online) zum Thema "Economic Complexity and value-added exports"
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Dear Sir or Madam,
WIFO cordially invites you to the next WIFO Research Seminar:
Philipp Koch (EcoAustria)
"Economic Complexity and value-added exports"
Discussant: Andreas Reinstaller (WIFO)
Wednesday, 9 June 2021, 1:30 p.m.
Online-seminar via Microsoft-Teams: Participation Link
Research question(s): Economic complexity is typically approximated using an economy's gross export structure. Considering increasingly integrated global value chains, can economic complexity based on value-added exports better explain economic growth? Do value-added export specializations convey a different picture of economic development from a network perspective than gross export specializations?
Approach: Using value-added exports and applying non-linear iterative algorithms, I introduce a novel empirical approach to the topic of economic complexity. Moreover, in analogy to the Product Space, which uses gross exports and maps products to each other based on required capabilities, value-added exports enable a complementary visualization of economic development and structural cross-country differences we refer to as Industry Space.
Data: The latest release of the World Input-Output Database is used, which covers 43 countries and 56 industries each for 2000 to 2014.
Main result(s): This approach leads to substantially different complexity rankings compared to established metrics using gross exports and the explanatory power of GDP per capita growth is considerably higher. Our study on the Industry Space emphasizes the need for value-added exports in analyzing economic development by providing evidence that using gross exports significantly changes the similarities between industries.
To import this lecture into your calendar, please click here.
We look forward to welcoming you for this lecture!
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Agnes Kügler (Moderator/Chair)
WIFO – Österreichisches Institut für Wirtschaftsforschung
Arsenal, Objekt 20
1030 Wien
Tel.: +43 (1) 798 26 01-303
Fax: +43 (1) 798 93 86
Web: http://www.wifo.ac.at
E-Mail: Agnes.Kuegler@wifo.ac.at |
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