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http://hdl.handle.net/10419/44905
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| Title: | | Measuring intangible capital and its contribution to economic growth in Europe  |
| Authors: | | van Ark, Bart Hao, Janet X. Corrado, Carol Hulten, Charles |
| Issue Date: | | 2009 |
| Citation: | | [Journal:] EIB Papers [ISSN:] 0257-7755 [Volume:] 14 [Year:] 2009 [Issue:] 1 [Pages:] 62-93 |
| Abstract: | | This study describes the state of the art in the measurement of intangible capital and its contribution to economic growth, with a focus on an international comparison of intangible investment intensity and intangible capital deepening among eleven advanced economies. By employing a broad measure of intangibles, including computerized information, innovative property and economic competencies, we find a relatively large impact on growth. Intangible capital explains about a quarter of labour-productivity growth in the US and larger countries of the EU. The continental West-European countries show a distinction between countries with significant contributions from intangible capital deepening and a group of laggards. Catching-up countries such as the Czech Republic, Greece and Slovakia show much larger contributions from tangible capital deepening than from intangibles, and also larger multi-factor productivity (MFP) growth rates related to the restructuring of those economies. |
| Document Type: | | Article |
| Appears in Collections: | | EIB Papers, European Investment Bank
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