Determinants of economic complexity revisited: Insightful understanding from panel quantile regression

Tóm tắt

The study attempts to examine the economic, demographic, and develop
ment determinants of economic complexity by using annual data spanning
from 1995 to 2019. The advanced panel quantile method is employed to
estimate the long-run impacts of driving forces on economic complexity
along with its distribution. The empirical results reveal several important
points. First, income, population density, human capital, and government
consumption appear to improve economic complexity while natural re
sources rent imposes a negative effect. Second, the impacts of such fac
tors are heterogeneous across quantiles of economic complexity. Third,
there exist huge differences in the roles of such factors between high-in
come and middle- and low-income countries. Based on findings, applicable
policies are provided.