- Home
- Publications
- Exploring The Link Between Economic Complexity And Emergent Economic Activities
Exploring the link between economic complexity and emergent economic activities



External Authors

Bishop, A

Mateos-Garcia, J
Related Themes
Macro-Economic Dynamics and PolicyJEL Code
R12, O31
Journal
National Institute Economic Review
Publisher
Sage Publications, London
External Resources
https://journals.sagepub.com/doi/full/10.1177/002795011924900114
Issue
249
Recent studies have shown a strong link between the complexity of economies and their economic development. There remain gaps in our understanding of the mechanisms underpinning these links, in part because they are difficult to analyse with highly aggregated, official data sources that do not capture the emergence of new industrial activities, a potential benefit from complexity. We seek to address some of these gaps by calculating two indices of economic complexity for functional local economies (Travel to Work Areas) in Great Britain, and explore their link with these locations’ economic performance. Seeking to gain a better understanding of the mechanism connecting economic complexity with economic performance, we create a measure of emergent technological activity in a location based on a combination of novel data sources including text from UK business websites and CrunchBase, a technology company directory, and study its link with economic complexity. Our results highlight the potential value of novel, unstructured data sources for the analysis of the links between economic complexity and regional economic development.
Related Blog Posts


Reassessing the Independence of the Bank of England
Stephen Millard
Carolina Garriga
11 Sep 2023
6 min read


What are the Main Issues Facing the UK Economy?
Stephen Millard
Hailey Low
Paula Bejarano Carbo
04 Jul 2023
7 min read
Related Projects
Related News



The Bank of England’s Job Is Difficult Enough As It Is, Without Government ‘Help’
22 May 2023
4 min read

Related Publications

The Impact of Rising Interest Rates on Housing Costs
09 Aug 2023
UK Economic Outlook Box Analysis


Prospects for Emerging Central and Eastern European Economies
02 Aug 2023
Global Economic Outlook Box Analysis

Related events

2022 Dow Lecture: The Economy and Policy Trade-Off

