The relationship between economic complexity and economic growth: panel bootstrap granger causality analysis

The aim of this study, 10 of the Newly Industrialized Countries (China, India, Thailand, Malaysia, the Philippines, Turkey, South Africa, Brazil, Mexico, Indonesia) is to analyzed the relationship between economic growth and economic complexity. The period 1960-2016 was considered in the study. The developed by Hidalgo and Hausmann (2009)The Economic Complexity Index and Real GDP data were used in the analysis to determine whether the countries have a qualified export structure. The causality relationship between the variables was analyzed by using Konya (2006) causality test. According to the results of Konya (2006) panel causality analysis is the only one way, from the economic complexity to economic growth for Mexico, Malaysia and South Africa and two way for only China. On the other hand, in panel was obtained only one-way causality relationship from economic complexity to economic growth.