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A New and Stable Estimation Method of Country Economic Fitness and Product Complexity

We present a new metric estimating fitness of countries and complexity of products by exploiting a non-linear non-homogeneous map applied to the publicly available information on the goods exported by a country. The non homogeneous terms guarantee both convergence and stability. After a suitable res...

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Autores principales: Servedio, Vito D. P., Buttà, Paolo, Mazzilli, Dario, Tacchella, Andrea, Pietronero, Luciano
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2018
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7512345/
https://www.ncbi.nlm.nih.gov/pubmed/33265871
http://dx.doi.org/10.3390/e20100783
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author Servedio, Vito D. P.
Buttà, Paolo
Mazzilli, Dario
Tacchella, Andrea
Pietronero, Luciano
author_facet Servedio, Vito D. P.
Buttà, Paolo
Mazzilli, Dario
Tacchella, Andrea
Pietronero, Luciano
author_sort Servedio, Vito D. P.
collection PubMed
description We present a new metric estimating fitness of countries and complexity of products by exploiting a non-linear non-homogeneous map applied to the publicly available information on the goods exported by a country. The non homogeneous terms guarantee both convergence and stability. After a suitable rescaling of the relevant quantities, the non homogeneous terms are eventually set to zero so that this new metric is parameter free. This new map almost reproduces the results of the original homogeneous metrics already defined in literature and allows for an approximate analytic solution in case of actual binarized matrices based on the Revealed Comparative Advantage (RCA) indicator. This solution is connected with a new quantity describing the neighborhood of nodes in bipartite graphs, representing in this work the relations between countries and exported products. Moreover, we define the new indicator of country net-efficiency quantifying how a country efficiently invests in capabilities able to generate innovative complex high quality products. Eventually, we demonstrate analytically the local convergence of the algorithm involved.
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spelling pubmed-75123452020-11-09 A New and Stable Estimation Method of Country Economic Fitness and Product Complexity Servedio, Vito D. P. Buttà, Paolo Mazzilli, Dario Tacchella, Andrea Pietronero, Luciano Entropy (Basel) Article We present a new metric estimating fitness of countries and complexity of products by exploiting a non-linear non-homogeneous map applied to the publicly available information on the goods exported by a country. The non homogeneous terms guarantee both convergence and stability. After a suitable rescaling of the relevant quantities, the non homogeneous terms are eventually set to zero so that this new metric is parameter free. This new map almost reproduces the results of the original homogeneous metrics already defined in literature and allows for an approximate analytic solution in case of actual binarized matrices based on the Revealed Comparative Advantage (RCA) indicator. This solution is connected with a new quantity describing the neighborhood of nodes in bipartite graphs, representing in this work the relations between countries and exported products. Moreover, we define the new indicator of country net-efficiency quantifying how a country efficiently invests in capabilities able to generate innovative complex high quality products. Eventually, we demonstrate analytically the local convergence of the algorithm involved. MDPI 2018-10-12 /pmc/articles/PMC7512345/ /pubmed/33265871 http://dx.doi.org/10.3390/e20100783 Text en © 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Servedio, Vito D. P.
Buttà, Paolo
Mazzilli, Dario
Tacchella, Andrea
Pietronero, Luciano
A New and Stable Estimation Method of Country Economic Fitness and Product Complexity
title A New and Stable Estimation Method of Country Economic Fitness and Product Complexity
title_full A New and Stable Estimation Method of Country Economic Fitness and Product Complexity
title_fullStr A New and Stable Estimation Method of Country Economic Fitness and Product Complexity
title_full_unstemmed A New and Stable Estimation Method of Country Economic Fitness and Product Complexity
title_short A New and Stable Estimation Method of Country Economic Fitness and Product Complexity
title_sort new and stable estimation method of country economic fitness and product complexity
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7512345/
https://www.ncbi.nlm.nih.gov/pubmed/33265871
http://dx.doi.org/10.3390/e20100783
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