Attention Economy


Thursday, August 17, 2017

Specialization, Trade and GDP Growth

Interesting new research summarized by Noah Smith:
“Now, a number of economists are working on new empirical approaches that take into account the huge variety and complicated connections between the products and services that get traded across international borders.
Two such economists are Ricardo Hausmann of Harvard’s Kennedy School and Cesar Hidalgo of Massachusetts Institute of Technology. They and their research team have a theory that the more different products a country makes, the better positioned it is to grow.”