Extending Economic Complexity Index to a Ternary Complexity Index

26 Pages Posted: 20 Nov 2017

See all articles by Inga Ivanova

Inga Ivanova

National Research University Higher School of Economics

Øivind Strand

Norwegian University of Science and Technology (NTNU)

Loet Leydesdorff

University of Amsterdam - Amsterdam School of Communication Research (ASCoR)

Date Written: November 16, 2017

Abstract

Economic complexity measures have been constructed on the basis of bilateral country-product network data. In this study, we submit a Ternary Complexity Index (TCI), which explicitly incorporates technological complexity as a third dimension, measured in terms of patents. TCI is based on Lotka-Volterra equations and thus the evolution of an innovation eco-system can be specified unambiguously. We perform model calculations based on empirical data and simulate the diachronic extensions. The results suggest that TCI improves on Hidalgo & Hausmann’ and Tacchella et al. measures as an indicator of future economic growth.

Keywords: economic complexity; metrics; triple helix; eco-system; simulation

JEL Classification: C6; O4

Suggested Citation

Ivanova, Inga and Strand, Øivind and Leydesdorff, Loet, Extending Economic Complexity Index to a Ternary Complexity Index (November 16, 2017). Available at SSRN: https://ssrn.com/abstract=3072335 or http://dx.doi.org/10.2139/ssrn.3072335

Inga Ivanova (Contact Author)

National Research University Higher School of Economics ( email )

20 Myasnitskaya St.
Moscow, 101000
Russia

Øivind Strand

Norwegian University of Science and Technology (NTNU) ( email )

N-6009 Ålesund
Ålesund
Norway

Loet Leydesdorff

University of Amsterdam - Amsterdam School of Communication Research (ASCoR) ( email )

PO Box 15793
Amsterdam, 1001 NG
Netherlands

HOME PAGE: http://www.leydesdorff.net

Register to save articles to
your library

Register

Paper statistics

Downloads
43
Abstract Views
249
PlumX