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This is the fitness index, the physical (Italian) indicator that measures a country's economy

This is the fitness index, the physical (Italian) indicator that measures a country’s economy

What is the relationship between physicists and economists? More than it sounds, but the combined effort to get a can without using a can opener, as in the famous Kenneth Boulding joke, has nothing to do with it. The goal this time around is more ambitious: to work together to make predictions about a country’s competitiveness without caring (only) its GDP. Statistical physics models have been published to generate an algorithm that can predict regional and global wealth. The challenge for a team of researchers Fermi Center From Rome led by Professor Luciano Petronero who invented a specialty ten years ago,Economic situation and complexity”, which begins by analyzing hundreds of different data—exports in particular, but also life expectancy, type of production, pollution—attempts to reconstruct the industrial potential of countries and regions. Or rather, it succeeds, if I end up there world bank I have adopted principles and European Commission It takes into account the fitness index to evaluate national plans for the next generation of the European Union. Now a new study also analyzes the green potential of regions and countries.

The underlying assumption is simple, or nearly so: the more complex a country’s exports, the greater its competitiveness and growth potential, especially when it comes to investing in environmentally sustainable technologies. Comparing fitness and GDP, the undeclared potential of the country is shown: on these grounds, for example China and India are expected to continue to grow for at least 10 yearsCompared to forecasts that already predicted a slowdown some time ago.

Fitness? To measure your awesomeness

Our approach is a scientist – explains the professor Luciano PetroneroHead of the Fermi Center – the problem of many economists analyzing things from the perspective of the ideological candidate. We studied a lot of data, but the most important one is the exports: If you make an advanced smartphone, you are more competitive than if you make a water bottle. The first can be done by a few and the second can be done by everyone. Interestingly, although it is closely related to the ability to create wealth, higher levels of physical fitness do not necessarily correlate with higher GDP. Take Saudi Arabia, for example – explains Petronero – very rich thanks to oil, but very little diversified economy and low industrial capacity. Thus it is a low fitness value, which in principle measures ‘how good you are’. The ability to engage in complex productions also provides information on the level of education and work, for example because it combines the skills required to achieve them. In short, according to the team of researchers from the capital, the success of any country is obtained by an indicator that expresses the diversity of production, which is weighed by its complexity. The system works and how: We can provide more accurate GDP forecasts from the IMFCondition is guaranteed.

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France, Germany and Japan at the top and the Lombardy Well

Recent studies by researchers from the Fermi Center – which has returned to the historic Roman site of Via Panesperna since 2019 – can provide indicators of environmental sustainability in various economies and in the most promising sectors. For the future: Among these are green technologies related to road transport and CO2 conversion. The most competitive countries in the world from a green point of view are Japan, France and Germany The researcher explains Angelica Spardella -. China, Brazil and Spain are on the rise, while the US and UK are taking a step back. Is it Italy? Halfway through the Ford: to regions like Emilia-Romagna and – above all – Lombardythat puts values ​​in alignment with the best European regions, together with the reality in the south that requires greater investment in green production: Italian growth cannot only move from haute couture and tourism – Spardella continues – but must provide a policy to define a suitable industrial plan With the strategic needs of the world 4.0.