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42 | THE ATLAS OF ECONOMIC COMPLEXITY

t e c h n I c a l B o x 4 . 3 : g l o B a l c o m p e t I t I v e n e s s I n d e x a n d g r o w t h

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here we compare the contribution of the global Competitiveness index (gCi) between the r obtained for the equation in which they were both included and
and the eCi to economic growth. We use the ranking of countries in the gCi and that in which one or the other is missing.
the ranking of countries in eCi to predict growth using 5 and 10 year panels. table 4.3.1 shows that eliminating the rank of the eCi from the regression re-
as controls, we use the increase in natural resource exports during the period sults in a much larger loss of explanatory power than removing the rank of gCi.
as well as the logarithm of the initial gDp per capita and year fixed effects. We this is true for both 5 and 10 year panels. Figure 4.9 on the main text illustrates
estimate the contribution of the gCi and eCi to growth by taking the difference these results.

TA B L E 4 . 3 . 1
Annualized growth in GDP pc

5 year panels 10 year panels
VARIABLES (1) (2) (3) (4) (5) (6)
Ranking of GCI -0.00007* -0.00004 -0.00023 -0.00005

(0.000) (0.000) (0.000) (0.000)
Ranking of ECI -0.00009*** -0.00007*** -0.00064*** -0.00060***
(0.000) (0.000) (0.000) (0.000)
Initial income per capita, logs -0.00231*** -0.00092*** -0.00180*** -0.01384*** -0.00439* -0.01200***

(0.001) (0.000) (0.000) (0.004) (0.002) (0.003)
Increase in natural resource exports 0.00709 0.00077 0.00578 0.09135* 0.04545 0.08814*
- in constant dollars (as a share of initial GDP) (0.008) (0.009) (0.008)
(0.048) (0.049) (0.045)

Constant 0.02744*** 0.01181*** 0.02059*** 0.17473*** 0.06694*** 0.15084***
(0.006) (0.003) (0.004) (0.044) (0.025) (0.030)
Observations 104 104 104 83 83 83

Adjusted R 2 0.255 0.123 0.204 0.233 0.074 0.228
Year FE Yes Yes Yes Yes Yes Yes
Robust standard errors in parentheses *** p<0.01, ** p<0.05, * p<0.1