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The Atlas of Economic Complexity

Author : Ricardo Hausmann,Cesar A. Hidalgo,Sebastian Bustos,Michele Coscia,Alexander Simoes
Publisher : MIT Press
Release : 2014-01-17
Category : Business & Economics
ISBN : 9780262525428

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Book The Atlas of Economic Complexity Description/Summary:

Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

The Atlas of Economic Complexity

Author : Ricardo Hausmann,César A. Hidalgo,Sebastián Bustos,Michele Coscia,Alexander Simoes,Muhammed A. Yildirim
Publisher : MIT Press
Release : 2014-01-17
Category : Business & Economics
ISBN : 9780262317733

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Book The Atlas of Economic Complexity Description/Summary:

Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

Economic Complexity and Human Development

Author : Dominik Hartmann
Publisher : Routledge
Release : 2018-03-12
Category : Business & Economics
ISBN : 9781135118945

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Book Economic Complexity and Human Development Description/Summary:

This book combines the human development approach and innovation economics in order to explore the effects that structural economic change has on human development. While economic diversification can provide valuable new social choices and capabilities, it also tends to lead to more complex decision processes and changes to the set of capabilities required by people to self-determine their future. Within this process of structural transformation, social networks are crucial for accessing information and social support, but networks can also be a root cause of exclusion and inequality reproduction. This implies the need to encourage innovation and economic diversification beyond production expansion, focusing on the promotion of human agency and social inclusion. This book provides such a modern perspective on development economics, emphasizing the role of social networks, economic diversity and entrepreneurship for social welfare. The author discusses how innovation, social networks, economic dynamics and human development are interlinked, and provides several practical examples of social and micro-entrepreneurship in contexts as diverse as Peruvian rural villages and Brazil’s urban areas. The interdisciplinary perspective put forward in this book illustrates theoretical and methodological methods of exploring the complexity of development in a practical and relevant way. It also provides useful information about structural factors which need to be considered by practitioners when designing pro-poor growth policies. Furthermore, the coverage of the core concepts of innovation, networks and development economics, enriched with multiple examples, makes it a valuable resource for scholars and advanced students of modern development economics.

How Humans Judge Machines

Author : Cesar A. Hidalgo,Diana Orghian,Jordi Albo Canals,Filipa De Almeida,Natalia Martin
Publisher : MIT Press
Release : 2021-02-02
Category : Computers
ISBN : 9780262045520

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Book How Humans Judge Machines Description/Summary:

How people judge humans and machines differently, in scenarios involving natural disasters, labor displacement, policing, privacy, algorithmic bias, and more. How would you feel about losing your job to a machine? How about a tsunami alert system that fails? Would you react differently to acts of discrimination depending on whether they were carried out by a machine or by a human? What about public surveillance? How Humans Judge Machines compares people's reactions to actions performed by humans and machines. Using data collected in dozens of experiments, this book reveals the biases that permeate human-machine interactions. Are there conditions in which we judge machines unfairly? Is our judgment of machines affected by the moral dimensions of a scenario? Is our judgment of machine correlated with demographic factors such as education or gender? César Hidalgo and colleagues use hard science to take on these pressing technological questions. Using randomized experiments, they create revealing counterfactuals and build statistical models to explain how people judge artificial intelligence and whether they do it fairly. Through original research, How Humans Judge Machines bring us one step closer tounderstanding the ethical consequences of AI.

The Atlas of Economic Complexity

Author : Ricardo Hausmann,César A. Hidalgo
Publisher : Unknown
Release : 2013
Category : Economic development
ISBN : 1461956633

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Book The Atlas of Economic Complexity Description/Summary:

Why Information Grows

Author : Cesar Hidalgo
Publisher : Basic Books
Release : 2015-06-02
Category : Business & Economics
ISBN : 9780465039715

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Book Why Information Grows Description/Summary:

"Hidalgo has made a bold attempt to synthesize a large body of cutting-edge work into a readable, slender volume. This is the future of growth theory." -- Financial Times What is economic growth? And why, historically, has it occurred in only a few places? Previous efforts to answer these questions have focused on institutions, geography, finances, and psychology. But according to MIT's antidisciplinarian Cér Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order. At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order-or information-disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same. For every Silicon Valley, Tokyo, and Paris, there are dozens of places with economies that accomplish little more than pulling rocks out of the ground. So, why does the US economy outstrip Brazil's, and Brazil's that of Chad? Why did the technology corridor along Boston's Route 128 languish while Silicon Valley blossomed? In each case, the key is how people, firms, and the networks they form make use of information. Seen from Hidalgo's vantage, economies become distributed computers, made of networks of people, and the problem of economic development becomes the problem of making these computers more powerful. By uncovering the mechanisms that enable the growth of information in nature and society, Why Information Grows lays bear the origins of physical order and economic growth. Situated at the nexus of information theory, physics, sociology, and economics, this book propounds a new theory of how economies can do not just more things, but more interesting things.

Aid on the Edge of Chaos

Author : Ben Ramalingam
Publisher : Oxford University Press
Release : 2013-10-24
Category : Business & Economics
ISBN : 9780199578023

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Book Aid on the Edge of Chaos Description/Summary:

Aid has become a tangle of donors and recipients, so unwieldy that it is in danger of collapse. This ground-breaking book presents fresh thinking that transcends the 'more' verses 'less' arguments. Drawing on complexity theory it shows how aid could be transformed into a truly dynamic form of global cooperation fit for the twenty-first century.

The Atlas of Economic Complexity

Author : Ricardo Hausmann,Cesar A. Hidalgo,Sebastián Bustos,Michele Coscia,Sarah Chung (M.A.),Juan Jimenez,Alexander Simões,Muhammed A. Yıldırım,Harvard University. Center for International Development,John F. Kennedy School of Government,Massachusetts Institute of Technology. Media Laboratory. Macro Connections Research,Massachusetts Institute of Technology
Publisher : Unknown
Release : 2011
Category : Economic development
ISBN : 0615546625

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Book The Atlas of Economic Complexity Description/Summary:

Preface: Over the past two centuries, mankind has accomplished what used to be unthinkable. When we look back at our long list of achievements, it is easy to focus on the most audacious of them, such as our conquest of the skies and the moon. Our lives, however, have been made easier and more prosperous by a large number of more modest, yet crucially important feats. Think of electric bulbs, telephones, cars, personal computers, antibiotics, TVs, refrigerators, watches and water heaters. Think of the many innovations that benefit us despite our minimal awareness of them, such as advances in port management, electric power distribution, agrochemicals and water purification. This progress was possible because we got smarter. During the past two centuries, the amount of productive knowledge we hold expanded dramatically. This was not, however, an individual phenomenon. It was a collective phenomenon. As individuals we are not much more capable than our ancestors, but as societies we have developed the ability to make all that we have mentioned -- and much, much more. Modern societies can amass large amounts of productive knowledge because they distribute bits and pieces of it among its many members. But to make use of it, this knowledge has to be put back together through organizations and markets. Thus, individual specialization begets diversity at the national and global level. Our most prosperous modern societies are wiser, not because their citizens are individually brilliant, but because these societies hold a diversity of knowhow and because they are able to recombine it to create a larger variety of smarter and better products. The social accumulation of productive knowledge has not been a universal phenomenon. It has taken place in some parts of the world, but not in others. Where it has happened, it has underpinned an incredible increase in living standards. Where it has not, living standards resemble those of centuries past. The enormous income gaps between rich and poor nations are an expression of the vast differences in productive knowledge amassed by different nations. These differences are expressed in the diversity and sophistication of the things that each of them makes, which we explore in detail in this Atlas. Just as nations differ in the amount of productive knowledge they hold, so do products. The amount of knowledge that is required to make a product can vary enormously from one good to the next. Most modern products require more knowledge than what a single person can hold. Nobody in this world, not even the saviest geek nor the most knowledgeable entrepreneur knows how to make a computer. He has to rely on others who know about battery technology, liquid crystals, microprocessor design, software development, metallurgy, milling, lean manufacturing and human resource management, among many other skills. That is why the average worker in a rich country works in a firm that is much larger and more connected than firms in poor countries. For a society to operate at a high level of total productive knowledge, individuals must know different things. Diversity of productive knowledge, however, is not enough. In order to put knowledge into productive use, societies need to reassemble these distributed bits through teams, organizations and markets. Accumulating productive knowledge is difficult. For the most part, it is not available in books or on the Internet. It is embedded in brains and human networks. It is tacit and hard to transmit and acquire. It comes from years of experience more than from years of schooling. Productive knowledge, therefore, cannot be learned easily like a song or a poem. It requires structural changes. Just like learning a language requires changes in the structure of the brain, developing a new industry requires changes in the patterns of interaction inside an organization or society. Expanding the amount of productive knowledge available in a country involves enlarging the set of activities that the country is able to do. This process, however, is tricky. Industries cannot exist if the requisite productive knowledge is absent, yet accumulating bits of productive knowledge will make little sense in places where the industries that require it are not present. This "chicken and egg" problem slows down the accumulation of productive knowledge. It also creates important path dependencies. It is easier for countries to move into industries that mostly reuse what they already know, since these industries require adding modest amounts of productive knowledge. By gradually adding new knowledge to what they already know, countries economize on the chicken and egg problem. That is why we find empirically that countries move from the products that they already create to others that are "close by" in terms of the productive knowledge that they require. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge that each country holds. Our measure of productive knowledge can account for the enormous income differences between the nations of the world and has the capacity to predict the rate at which countries will grow. In fact, it is much more predictive than other well-known development indicators, such as those that attempt to measure competitiveness, governance and education. A central contribution of this Atlas is the creation of a map that captures the similarity of products in terms of their knowledge requirements. This map provides paths through which productive knowledge is more easily accumulated. We call this map, or network, the product space, and use it to locate each country, illustrating their current productive capabilities and the products that lie nearby. Ultimately, this Atlas views economic development as a social learning process, but one that is rife with pitfalls and dangers. Countries accumulate productive knowledge by developing the capacity to make a larger variety of products of increasing complexity. This process involves trial and error. It is a risky journey in search of the possible. Entrepreneurs, investors and policymakers play a fundamental role in this economic exploration. By providing rankings, we wish to clarify the scope of the achievable, as revealed by the experience of others. By tracking progress, we offer feedback regarding current trends. By providing maps, we do not pretend to tell potential explorers where to go, but to pinpoint what is out there and what routes may be shorter or more secure. We hope this will empower these explorers with valuable information that will encourage them to take on the challenge and thus speed up the process of economic development.

Bangladesh

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Release : 2019-09-18
Category : Business & Economics
ISBN : 9781513514314

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Book Bangladesh Description/Summary:

This Selected Issues paper summarizes achievements of the authorities to date and describes several options to support their ongoing efforts. The economic impact of climate change on Bangladesh is likely to become more pronounced. The outlook for Bangladesh is a source of concern, with experts from the Intergovernmental Panel on Climate Change predicting that a rise in sea levels and coastal erosion could lead to a loss of 17 percent of land surface and 30 percent of food production by 2050. Responding effectively to the impact of climate change depends on designing an appropriate set of fiscal policies. These can play a key role in mobilizing both public and private sources of finance for mitigation and adaptation activities. A second priority for Bangladesh is to raise domestic revenue from its current low base, including through introduction of a carbon tax. By helping establish a predictable price for carbon emissions, carbon taxes also provide clear incentives to promote investments in emissions-saving technologies. Although opponents argue that such taxes harm economic activity and slow job creation, the revenue they generate may over time be used to reduce other distorting taxes on labor and capital.

Democracy in the Woods

Author : Prakash Kashwan
Publisher : Oxford University Press
Release : 2017
Category : Political Science
ISBN : 9780190637385

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Book Democracy in the Woods Description/Summary:

How do societies negotiate the apparently competing agendas of environmental protection and social justice? Why do some countries perform much better than others? Democracy in the Woods answers these questions by explaining the trajectories of forest and land rights - and the fate offorest-dependent peasants - in the forested regions of India, Tanzania, and Mexico. To organize a comparative inquiry that straddles the fields of comparative politics, historical institutionalism, and policy studies, this book develops a political economy of institutions framework. It shows thatdifferences in structures of political intermediation - venues that help peasant groups and social movements engage in political and policy processes - explain the varying levels of success in combining the pursuits of social justice and environmental conservation. The book challenges the age-oldnotion that populist policies produce uniformly deleterious environmental consequences that must be mitigated via centralized systems of environmental regulation. It shows instead that the national leaders and dominant political parties that must compete for popular support in the political arenaare more likely to fashion interventions that pursue conservation of forested landscapes without violating the rights of forest-dependent people. Mexico demonstrates the potential for win-win outcomes, India continues to stumble on both environmental and social questions despite longstandingtraditions of popular mobilization for forestland rights, and Tanzania's government has failed its forest-dependent people despite a lucrative wildlife tourism sector. This book's political analysis of the control over and use of nature opens up new avenues for reflecting on nature in theAnthropocene.

Building State Capability

Author : Matt Andrews,Lant Pritchett,Michael Woolcock
Publisher : Oxford University Press
Release : 2017
Category : Business & Economics
ISBN : 9780198747482

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Book Building State Capability Description/Summary:

Introduction : the "long voyage of discovery" -- The big stuck in state capability -- Looking like a state : the seduction of isomorphic mimicry -- Premature load bearing : doing too much too soon -- Capability for policy implementation -- What type of organization capability is needed? -- The challenge of building (real) state capability for implementation -- Doing problem-driven work -- The searchframe : doing experimental iterations -- Managing your authorizing environment -- Building state capability at scale through groups.

Atlas Shrugged

Author : Ayn Rand
Publisher : Penguin
Release : 2005-04-21
Category : Fiction
ISBN : 9781101137192

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Book Atlas Shrugged Description/Summary:

Peopled by larger-than-life heroes and villains, charged with towering questions of good and evil, Atlas Shrugged is Ayn Rand’s magnum opus: a philosophical revolution told in the form of an action thriller—nominated as one of America’s best-loved novels by PBS’s The Great American Read. Who is John Galt? When he says that he will stop the motor of the world, is he a destroyer or a liberator? Why does he have to fight his battles not against his enemies but against those who need him most? Why does he fight his hardest battle against the woman he loves? You will know the answer to these questions when you discover the reason behind the baffling events that play havoc with the lives of the amazing men and women in this book. You will discover why a productive genius becomes a worthless playboy...why a great steel industrialist is working for his own destruction...why a composer gives up his career on the night of his triumph...why a beautiful woman who runs a transcontinental railroad falls in love with the man she has sworn to kill. Atlas Shrugged, a modern classic and Rand’s most extensive statement of Objectivism—her groundbreaking philosophy—offers the reader the spectacle of human greatness, depicted with all the poetry and power of one of the twentieth century’s leading artists.

World Economic Situation and Prospects 2020

Author : United Nations
Publisher : United Nations
Release : 2020-01-16
Category : Business & Economics
ISBN : 9789213583296

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Book World Economic Situation and Prospects 2020 Description/Summary:

This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2020 and 2021. Produced by the Department of Economic and Social Affairs, the five United Nations regional commissions, the United Nations Conference on Trade and Development, with contributions from the UN World Tourism Organization and other intergovernmental agencies.

The Washington Consensus Reconsidered

Author : Narcís Serra,Joseph E. Stiglitz
Publisher : OUP Oxford
Release : 2008-04-24
Category : Political Science
ISBN : 0191538604

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Book The Washington Consensus Reconsidered Description/Summary:

This volume brings together many of the leading international figures in development studies, such as Jose Antonio Ocampo, Paul Krugman, Dani Rodrik, Joseph Stiglitz, Daniel Cohen, Olivier Blanchard, Deepak Nayyar and John Williamson to reconsider and propose alternative development policies to the Washington Consensus. Covering a wide range of issues from macro-stabilization to trade and the future of global governance, this important volume makes a real contribution to this important and ongoing debate. The volume begins by introducing the Washington Consensus, discussing how it was originally formulated, what it left out, and how it was later interpreted, and sets the stage for a formulation of a new development framework in the post-Washington Consensus era. It then goes on to analyze and offer differing perspectives and potential solutions to a number of key development issues, some which were addressed by the Washington Consensus and others which were not. The volume concludes by looking toward formulating new policy frameworks and offers possible reforms to the current system of global governance.

A Diversification Strategy for South Asia

Author : Weicheng Lian,Fei Liu,Katsiaryna Svirydzenka,Biying Zhu
Publisher : International Monetary Fund
Release : 2021-07-30
Category : Business & Economics
ISBN : 9781513584799

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Book A Diversification Strategy for South Asia Description/Summary:

While South Asia has gone a long way in diversifying their economies, there is substantial scope to do more. Some countries – India, Nepal, and Sri Lanka – can build on their existing production capabilities; others – Bangladesh, Bhutan, and the Maldives – would need to undertake a more concerted push. We identify key policies from a large set of potential determinants that explain the variation in export diversification and complexity across 189 countries from 1962 to 2018. Our analysis suggests that South Asia needs to invest in infrastructure, education, and R&D, facilitate bank credit to productive companies, and open to trade in order to diversify and move up the value chains. Given the COVID-19 pandemic, investing in digital technologies as part of the infrastructure push and improving education are of even greater importance to facilitate the ability to work remotely and assist resource reallocation away from the less viable sectors.

Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems

Author : Cars Hommes
Publisher : Cambridge University Press
Release : 2013-01-24
Category : Business & Economics
ISBN : 9781107019294

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Book Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems Description/Summary:

Recognising that the economy is a complex system with boundedly rational interacting agents, applies complexity modelling to economics and finance.

Reservoir Engineering Handbook

Author : Tarek H. Ahmed
Publisher : Gulf Professional Publishing
Release : 2001
Category : Technology & Engineering
ISBN : STANFORD:36105110407215

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Book Reservoir Engineering Handbook Description/Summary:

The job of any reservoir engineer is to maximize production from a field to obtain the best economic return. To do this, the engineer must study the behavior and characteristics of a petroleum reservoir to determine the course of future development and production that will maximize the profit. Fluid flow, rock properties, water and gas coning, and relative permeability are only a few of the concepts that a reservoir engineer must understand to do the job right, and some of the tools of the trade are water influx calculations, lab tests of reservoir fluids, and oil and gas performance calculations.Two new chapters have been added to the first edition to make this book a complete resource for students and professionals in the petroleum industry: Principles of Waterflooding, Vapor-Liquid Phase Equilibria.