Abstract

Economic complexity analysis (ECA) is a newly emerging research program that aims to understand what determines the set of goods and services that a country can produce, and how this set changes over time. At its core, this research program assumes that production of a given good or service requires a combination of fine-grained and highly complementary capabilities. As a consequence, economic growth is driven by a process of diversification that is enabled by the acquisition of capabilities. This chapter traces the intellectual antecedents and origins of ECA and illustrates core tenets in a simple model of production that is analyzed using complex network theory. It then reviews current debates on core concepts in the field—in particular measures of relatedness and complexity of economic activities—and reflects on policy implications. We conclude by sketching a broad research agenda, identifying five key areas: (1) relaxing overly restrictive assumptions of current models; (2) better connecting ECA to debates in the wider field of economics; (3) exploring connections across scales, from countries to cities to firms; (4) addressing questions related to capability coordination; and (5) developing applications to important large-scale societal transitions, such as the green transition and the digitization of work.

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