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Economic fitness and economy growth potentiality: Evidence from BRICS and OECD countries

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  • Ma, Xinxin
  • Zong, Xiangyu
  • Chen, Ximing

Abstract

This paper covers the development process from Product Space Theory to Economic Complexity and Fitness, evaluates the Fitness trajectories based on up to 1240 exports from the BRICS countries from 1995 to 2017, and carries out a comparative analysis between BRICS and the top five in OECD countries. We develop a similarity index by country-product matrices to measure the cooperating potentiality among countries. Empirical result indicates that cooperation among BRICS countries could be of great benefit to them, and help them realize their growth potential according to both the fitness index and the similarity index.

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  • Ma, Xinxin & Zong, Xiangyu & Chen, Ximing, 2022. "Economic fitness and economy growth potentiality: Evidence from BRICS and OECD countries," Finance Research Letters, Elsevier, vol. 50(C).
    • Handle: RePEc:eee:finlet:v:50:y:2022:i:c:s1544612322004354
    DOI: 10.1016/j.frl.2022.103235
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    More about this item

    Keywords

    Economic complexity and fitness; Competitiveness; GDP forecasting; BRICS countries;
    All these keywords.

    JEL classification:

    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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