Prof. A. Stella (Univ. of Padova): Growth dynamics and complexity of national economies in the global trade network

Prof. Attilio Stella

Univ. of Padova

Growth dynamics and complexity of national economies in

the global trade network

Povzetek / Abstract:

Methods of statistical physics allow to explore the quantitative nexus among economic growth of a country, diversity of its productions, and evolution in time of its export basket. A stochastic model of evolution, calibrated on data for 1238 exports from 223 countries in 21 years, enables counterfactual analyses based on estimates of the part of growth due to resource transfers between different productions. Original use of the Boltzmann-Shannon entropy function leads to the construction of consistent measures of the efficiency of national economies and of the specialization of productions.