What economic complexity theory can tell us about the EU’s pandemic recovery and resilience plans

Publication date: 13 Sep 2021 | Publication type: Policy Paper | NIESR Author(s): Macchiarelli, C | External Author(s): Hausmann, R; Santos, M; Giacon, R | Report number: 28

A little over a year ago, the EU’s political leaders agreed on an unprecedented fiscal package – dubbed ‘Next Generation EU’ – to aid Europe’s recovery from the pandemic. Ricardo Hausmann, Miguel Angel Santos, Corrado Macchiarelli and Renato Giacon write that economic complexity theories can provide a useful tool for evaluating whether the recovery and resilience plans submitted by EU member states to receive this funding are well-designed. Assessing the case of Greece, they argue that investments should be tailored toward export-oriented sectors and aim to help close the country’s product complexity gap with other EU states.

Keyword tags: 
Economic Complexity Theories
economic growth
Next Generation EU