Application of the Economic Complexity Index in Macro-Financial Models
This paper discusses the economic complexity index, principles of its calculation, its interrelation with other economic macroparameters, and advantages and disadvantages of this index from the point of view of the comparative country analysis. The hypothesis about association between the complexity of the economy and the monetization of GDP is substantiated. The hypothesis is verified by econometric analysis, using the manufacturing inventories index. The ways various economies create money through the debt of various sectors are considered.