Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/323944 
Authors: 
Year of Publication: 
2025
Series/Report no.: 
Working Paper No. 258/2025
Publisher: 
Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE), Berlin
Abstract: 
The economic complexity framework by César Hidalgo and Ricardo Hausmann has inspired a substantial body of literature throughout recent years. Following previous research, which explored the various drivers of economic complexity, this article contributes by exploring the interplay with financial development. For the base sample of the European Union, a positive effect of financial development on economic complexity is found, identifying the financial institutions channel as the strongest driver of the Economic Complexity Index. Critical reflection leads to the assumption that a holistic replication of the study on a global scale could retrieve non-linear characteristics of said relationship.
Subjects: 
Economic Complexity
Financial Development
European Economics
JEL: 
C51
G10
G20
O16
O30
Document Type: 
Working Paper

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