Methodological Proposal for the Analysis of the Dynamics of the Economic Growth of Paraguay from the Perspective of Economic Fitness

Abstract

Countries and products are related to each other because the goods produced by a country contain information about the capabilities it possesses. The economic growth of countries is closely associated with the increase in the different types of products that are produced and exported in a given country (diversity) and in how many countries are capable of making a given product (ubiquity). The “Economic Fitness” analysis seeks to describe and quantify the competitiveness of the countries' economies, and the complexity of the exported products. What is expected of a country with a high level of Fitness is that they cover a wide range of products and do not focus on products of high or low complexity. The purpose of this study is to obtain the Fitness level of Paraguay, and at the same time make a forecast of the country's economic growth.