Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/44905 
Year of Publication: 
2009
Citation: 
[Journal:] EIB Papers [ISSN:] 0257-7755 [Volume:] 14 [Issue:] 1 [Publisher:] European Investment Bank (EIB) [Place:] Luxembourg [Year:] 2009 [Pages:] 62-93
Publisher: 
European Investment Bank (EIB), Luxembourg
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

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