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An Empirical Analysis of Economic Complexity and Commodity Dependence

In: Proceedings of the Global Conference on Economic Diversification 2024

Author

Listed:
  • Sofia Dominguez

    (UNCTAD)

  • Cosimo Frontera

    (UNCTAD)

  • Clovis Freire

    (UNCTAD)

Abstract

This paper explores the relationship between economic complexity and commodity dependence, employing a fixed effects model with a sample of 184 countries from 1995 to 2019. The results show that as countries increase their economic complexity, they reduce their dependence on commodity exports. This result holds across all countries with different ranges of commodity dependence and remains significant to a series of robustness checks. The results highlight the importance of fostering technological capabilities and a diversified industrial base that allows for producing more complex products, which would help mitigate the adverse effects of commodity dependence. The paper recommends that governments prioritize value addition and strategic export diversification to enhance economic complexity and support sustainable growth in commodity-dependent developing countries.

Suggested Citation

  • Sofia Dominguez & Cosimo Frontera & Clovis Freire, 2026. "An Empirical Analysis of Economic Complexity and Commodity Dependence," Springer Proceedings in Business and Economics, in: Keertana Subramani & Hamid Saeed & Fadi Salem (ed.), Proceedings of the Global Conference on Economic Diversification 2024, chapter 0, pages 21-41, Springer.
    • Handle: RePEc:spr:prbchp:978-981-95-2022-0_2
    DOI: 10.1007/978-981-95-2022-0_2
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