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<p>Economic complexity is a key factor that can explain the endless puzzle of differences in income per capita across countries. However, empirical studies on the key drivers of economic complexity in Africa, which has a very low index, is missing. This paper enriches the economics literature by providing empirical evidence on the key drivers of economic complexity in Africa. The paper used panel data on 34 countries in Africa, over the period 1995–2021. The System Generalized Method of Moments and the Feasible Generalized Least Square estimators were deployed for the analysis. The empirical result shows that education, electricity access, economic governance, financial globalization, gross domestic product, and population promote Africa’s economic complexity. Conversely, natural resources rent hinders economic complexity, confirming the resource curse hypothesis. Furthermore, trade globalization, ICT, and inflation impede economic complexity. Specific policies directed towards these drivers should be implemented to enhance product sophistication in Africa.</p>

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On the key drivers of economic complexity in Africa

  • 期刊论文

  • 发表日期：

    2026年2月26日

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  • Raymond Dziwornu,
  • Mark Edem Kunawotor

摘要

Economic complexity is a key factor that can explain the endless puzzle of differences in income per capita across countries. However, empirical studies on the key drivers of economic complexity in Africa, which has a very low index, is missing. This paper enriches the economics literature by providing empirical evidence on the key drivers of economic complexity in Africa. The paper used panel data on 34 countries in Africa, over the period 1995–2021. The System Generalized Method of Moments and the Feasible Generalized Least Square estimators were deployed for the analysis. The empirical result shows that education, electricity access, economic governance, financial globalization, gross domestic product, and population promote Africa’s economic complexity. Conversely, natural resources rent hinders economic complexity, confirming the resource curse hypothesis. Furthermore, trade globalization, ICT, and inflation impede economic complexity. Specific policies directed towards these drivers should be implemented to enhance product sophistication in Africa.