IDEAS home Printed from https://ideas.repec.org/p/rtv/ceisrp/483.html

Economic Growth and Innovation Complexity: An Empirical Estimation of a Hidden Markov Model

Author

Listed:

Abstract

Over the past decades, research effort in high income countries has substantially increased. Meanwhile, the growth rates of per capita output have been rather stable. The contribution of this paper is twofold. The first is to provide a theoretical explanation for such trends by developing an R&D-based growth model which accounts for dilution, difficulty and duplication effects. The second is to show empirically that the occurrence of different phases in the economic growth dynamics traces back to the interplay between complexity and specialization in production. To do this we estimate a Hidden Markov Model in which countries can switch across different growth regimes. We identify four distinct growth regimes.

Suggested Citation

  • Alberto Bucci & Lorenzo Carbonari & Pedro Mazeda Gil & Giovanni Trovato, 2020. "Economic Growth and Innovation Complexity: An Empirical Estimation of a Hidden Markov Model," CEIS Research Paper 483, Tor Vergata University, CEIS, revised 12 Nov 2021.
    • Handle: RePEc:rtv:ceisrp:483
    as

    Download full text from publisher

    File URL: https://ceistorvergata.it/RePEc/rpaper/RP483.pdf
    File Function: Main text
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ronald Djeunankan & Sosson Tadadjeu & Henri Njangang & Ummad Mazhar, 2025. "The hidden cost of sophistication: economic complexity and obesity," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 26(2), pages 243-265, March.
    2. repec:rim:rimwps:24-16 is not listed on IDEAS
    3. Davit Gondauri, 2025. "Forecasting Inflation Based on Hybrid Integration of the Riemann Zeta Function and the FPAS Model (FPAS + $\zeta$): Cyclical Flexibility, Socio-Economic Challenges and Shocks, and Comparative Analysis," Papers 2510.02966, arXiv.org.
    4. Zhu, Chen & Xia, Yuqing & Liu, Qing & Hou, Bojun, 2023. "Deregulation and green innovation: Does cultural reform pilot project matter," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 84-105.
    5. Gil, Pedro Mazeda & Iglésias, Gustavo & Guimarães, Luís, 2023. "Endogenous growth and monetary policy: How do interest-rate feedback rules shape nominal and real transitional dynamics?," Journal of International Money and Finance, Elsevier, vol. 138(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • J1 - Labor and Demographic Economics - - Demographic Economics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rtv:ceisrp:483. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Barbara Piazzi (email available below). General contact details of provider: https://edirc.repec.org/data/csrotit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.