The implications of financial development on economic complexity - a multilayered analysis of the European Union

The economic complexity framework by César Hidalgo and Ricardo Hausmann has inspired a substantial body of literature throughout recent years. Following previous research, which explored the various drivers of economic complexity, this thesis contributes by exploring the interplay with financial development. For the base sample of the EU a positive effect of financial development on economic complexity is found and additionally, a non-linear relationship is suggested.