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The network structure of economic output

Hausmann, Ricardo ; Hidalgo, César A.

Journal of economic growth (Boston, Mass.), 2011-12, Vol.16 (4), p.309-342 [Periódico revisado por pares]

Boston: Springer

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Título:
The network structure of economic output
Autor: Hausmann, Ricardo ; Hidalgo, César A.
Assuntos: Aggregate analysis ; Binomials ; Business networks ; Calibration ; Co-exports ; Complex organization ; Data analysis ; Data models ; Datasets ; Divergence ; Diversification ; Economic geography ; Economic Growth ; Economic growth models ; Economic growth theories ; Economic models ; Economic theory ; Economics ; Economics and Finance ; Elasticity of substitution ; Exports ; Gaussian distributions ; GDP ; Geographic distribution ; Gross Domestic Product ; Growth models ; Human capital ; International Economics ; Macroeconomics/Monetary Economics//Financial Economics ; Modeling ; Networks ; Output ; Output rate ; Parametric models ; Per capita ; Poverty ; Product ubiquity ; Production functions ; Production internationalization ; Skill differentials ; Structural change ; Structural economics ; Studies
É parte de: Journal of economic growth (Boston, Mass.), 2011-12, Vol.16 (4), p.309-342
Notas: ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
Descrição: Much of the analysis of economic growth has focused on the study of aggregate output. Here, we deviate from this tradition and look instead at the structure of output embodied in the network connecting countries to the products that they export. We characterize this network using four structural features: the negative relationship between the diversification of a country and the average ubiquity of its exports, and the non-normal distributions for product ubiquity, country diversification and product co-export. We model the structure of the network by assuming that products require a large number of non-tradable inputs, or capabilities, and that countries differ in the completeness of the set of capabilities they have. We solve the model assuming that the probability that a country has a capability and that a product requires a capability are constant and calibrate it to the data to find that it accounts well for all of the network features except for the heterogeneity in the distribution of country diversification. In the light of the model, this is evidence of a large heterogeneity in the distribution of capabilities across countries. Finally, we show that the model implies that the increase in diversification that is expected from the accumulation of a small number of capabilities is small for countries that have a few of them and large for those with many. This implies that the forces that help drive divergence in product diversity increase with the complexity of the global economy when capabilities travel poorly.
Editor: Boston: Springer
Idioma: Inglês

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The network structure of economic output

Hausmann, Ricardo ; Hidalgo, César A.

Boston: Springer

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