Abstract:

Although there are numerous indicators for measuring the macroeconomic development and well-being levels of countries, the indicator used in comparison with each country is the income rate per person. However, it seems that in recent periods a significant indicator that determines the country’s well-being levels and affects the future growth performance has come to the forefront. This indicator, called the Economic Complexity Index, is based on the level of complexity of the products produced and exported by countries, indicating the level of complexity of the respective economies. In this study, the economic complexity index in the G8 countries, which are defined as eight developed and industrialized countries in the world, and the relationship between income per person and exports is examined by panel analysis of causality. While Granger causality test results show a causal relationship from income per person to economic complexity level, Dimitrescu-Hurlin test results show a causal relationship from export to income per person and economic complexity level.

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