Özet:

The aim of this study is to measure the impact of the level of economic complexity on economic growth. In the study, panel time series analysis was carried out using the annual data of the period 1995-2017 of the 13 transition countries on the European continent (Albania, Bulgaria, Czech Republic, Estonia, Croatia, North Macedonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia, Slovenia) using the panel time series analysis. According to the level of development, the analysis made by dividing the countries into two groups in order to test the inter-units correlation was implemented in Pesaran (2015) CDNT Test.  The existence of the unit root of the variables has been tested by the Im, Pesaran and Shin (IPS) test and the horizontal cut extended Im, Pesaran and Shin (CIPS) unit root tests. The homogenity of the parameters in the model was studied by Swamy S test and the inter-units correlation by Breusch-Pagan LM test. The model is predicted by the Prognosis of Apparently Non-Related Regression (SUR) which results in the correlation and heterogenity between the units. The estimates show that the impact of economic complexity on economic growth in the countries of the first group is positive and very strong, while in the countries of the second group there is no statistically meaningful impact. In this context, the countries that make up the first group in order to accelerate their economic growth should produce products close to the complexity of the products in the export seats and export these products. On the other hand, in the countries that make up the second group, the directing of domestic investments as an important element of economic growth to the production of more sophisticated products and the inclusion of these products into the country’s export seat can be considered a strategy to boost economic growth.