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Conference publicationsComplexity and its impact on gross regional product: Russian regionsкандидат физико-математических наук Москва, Центральный экономико- математический институт РАН kovlal@inbox.ru The index of economic complexity defines the basis of the modern theory of economic complexity and reflects the level of knowledge embedded in the productive structure of the economy. This study examines the direct impact of economic complexity on GRP. Since, together with economic complexity, the factors of GRP generalized production function are also considered, this allows us to isolate the impact of the economic complexity index from other phenomena. The analysis shows that the direct relationship between economic complexity and GRP is of a threshold nature, and the effect of the direct relationship appears only at sufficiently large values of economic complexity. In addition, the study shows that there is no direct relationship between the index of economic complexity and the level of the manufacturing industries development. However, there is a direct relationship with the extractive industries index: the higher the concentration of extractive industries in the structure of the economy, the lower the level of economic complexity. The generalized production function of GRP was clarified, in which the threshold effect of the influence of economic complexity manifested itself as a factor of the functional dependence describing the elasticity of labor: a high level of economic complexity provides greater labor productivity. Overall, the results of the study of the dependence of GRP on economic complexity lead to the conclusion that an increase in economic complexity can be an effective way to stimulate economic growth and development, but only starting from a certain threshold level. Values of economic complexity below this threshold have no effect on GRP. |
