Answered By: Bobray Bordelon
Last Updated: Jul 05, 2022     Views: 14

Datastream® has a dataset that studies economic diversification globally. This series provides insight into macroeconomic stability, economic growth and development.  While diversification efforts have been underway in many fossil fuel-based nations (including those in the GCC) in the past several decades, there has been little effort to quantify the efforts or to assess if such policies have been successful. The Global Economic Diversification Index aims to fill this gap. While many research papers have explored the concept of trade diversification, this series examines diversification from a multidimensional angle, exploring income/activity, trade and government revenue diversification. The Economic Diversification Indices identify and examine some 25 indicators spanning a combination of the 3 dimensions of diversification – output, trade, and revenue – across a total of 89 countries over the past two decades. A country is defined as resource dependent if: – Over 60% of its total merchandise exports in value terms consist of natural resources – The ratio of natural resources exports to GDP is above 10% Background on constructing the Global Economic Diversification Index (EDI) In summary, while trade diversification is an important component of economic diversification, so are activity and government revenue diversification. A combination of the three dimensions of diversification – output, trade and revenue – can lead to structural transformation, more balanced economies, more sustainable growth and economic development. These form the components of the Global Economic Diversification Index (EDI). The EDI is composed of three sub-indices: – Production – Trade – Government revenue diversification  

The 396 Series can be found within Navigator, Economics, International Business & Governance Indicators and the Global Economic Diversification Index.

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