How Economic Complexity Explains Which Countries Become Rich
Odd Lots
00:00
Navigating Economic Complexity
This chapter examines the interplay between economic complexity and national wealth, emphasizing how countries with varying levels of complexity can prosper. It introduces the concept of the 'adjacent possible,' showcasing how countries can diversify their economies by expanding into related industries. Through examples like Bangladesh and India, the chapter illustrates the importance of knowledge transfer and the challenges of moving beyond existing economic capabilities.
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