Multidimensional Economic Complexity and Fiscal Crises

 0 Người đánh giá. Xếp hạng trung bình 0

Tác giả: Gjorgji Gockov, Goran Hristovski, Viktor Stojkoski

Ngôn ngữ: eng

Ký hiệu phân loại: 330 Economics

Thông tin xuất bản: 2024

Mô tả vật lý:

Bộ sưu tập: Metadata

ID: 204764

Recent studies highlight economic complexity's role in mitigating fiscal crises, often measured via an economy's trade structure. Trade, however, is just one facet of an economy's structure and omits critical innovative activities like research. Here, we investigate how a multidimensional approach to economic complexity-including both trade and research structures-relates to fiscal instability. By using data on over 230 national fiscal crises from 1995 to 2021 and hazard duration analysis, we assess how measures of trade and research complexity combine to explain crisis likelihood. We find that the interaction of complexity dimensions significantly reduces crisis probability, whereas individual indexes alone are not robust predictors. This suggests that economies focusing on a single dimension may be more vulnerable, thus highlighting the importance of balanced development across multiple areas. These findings offer valuable insights for policymakers aiming to enhance economic resilience and mitigate fiscal risks.
Tạo bộ sưu tập với mã QR

THƯ VIỆN - TRƯỜNG ĐẠI HỌC CÔNG NGHỆ TP.HCM

ĐT: (028) 36225755 | Email: tt.thuvien@hutech.edu.vn

Copyright @2024 THƯ VIỆN HUTECH