IDEAS home Printed from https://ideas.repec.org/a/taf/reroxx/v27y2014i1p67-85.html
   My bibliography  Save this article

Innovativeness and intangibles in transition: the case of Slovenia

Author

Listed:
  • Miroslav Verbič
  • Sašo Polanec

Abstract

The article presents the micro data on intangibles for Slovenia during the period 1994–2005 using an augmented method by Corrado et al. and analyses the role of intangibles in the Slovenian economy during the transition. By examining the organisational, information and communication technologies (ICT) and research and development (R&D) component of intangibles, we observe a decrease in the value of R&D capital that was to some extent offset by an increase in the value of ICT capital. We find that organisational workers had higher productivity than the average worker. The dynamic of change was gradual during the transition. The capitalisation of intangibles implied an average 4.5% increase of gross domestic product (GDP) for the new member states. Nonetheless, a worrying convergence can be observed between the tangible and the intangible capital. One can thus expect the intangibles have an important role in the future growth in Slovenia and across the European countries, but only if proper attention is devoted to them in terms of policy measures and regulation.

Suggested Citation

  • Miroslav Verbič & Sašo Polanec, 2014. "Innovativeness and intangibles in transition: the case of Slovenia," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 27(1), pages 67-85, January.
  • Handle: RePEc:taf:reroxx:v:27:y:2014:i:1:p:67-85
    DOI: 10.1080/1331677X.2014.947109
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1331677X.2014.947109
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/1331677X.2014.947109?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Mauro Giorgio Marrano & Jonathan Haskel, 2006. "How Much Does the UK Invest in Intangible Assets?," Working Papers 578, Queen Mary University of London, School of Economics and Finance.
    2. Carol Corrado & Charles Hulten & Daniel Sichel, 2005. "Measuring Capital and Technology: An Expanded Framework," NBER Chapters, in: Measuring Capital in the New Economy, pages 11-46, National Bureau of Economic Research, Inc.
    3. Timothy F. Bresnahan & Shane Greenstein, 1999. "Technological Competition and the Structure of the Computer Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 47(1), pages 1-40, March.
    4. Takatoshi Ito & Anne O. Krueger, 1996. "Financial Deregulation and Integration in East Asia," NBER Books, National Bureau of Economic Research, Inc, number ito_96-1, March.
    5. John M. Abowd & Francis Kramarz & David N. Margolis, 1999. "High Wage Workers and High Wage Firms," Econometrica, Econometric Society, vol. 67(2), pages 251-334, March.
    6. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    7. Carol Corrado & John Haltiwanger & Daniel Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1, March.
    8. Baruch Lev & Suresh Radhakrishnan, 2003. "The Measurement of Firm-Specific Organization Capital," NBER Working Papers 9581, National Bureau of Economic Research, Inc.
    9. Mark A. Youndt & Mohan Subramaniam & Scott A. Snell, 2004. "Intellectual Capital Profiles: An Examination of Investments and Returns," Journal of Management Studies, Wiley Blackwell, vol. 41(2), pages 335-361, March.
    10. Lee, Chung H., 1996. "Financial deregulation and integration in East Asia : edited by Takatoshi Ito and Anne O. Krueger, NBER-East Asia Seminar on Economics VoL 5, Chicago and London: National Bureau of Economic Research a," Journal of Asian Economics, Elsevier, vol. 7(4), pages 785-787.
    11. Pekka Ilmakunnas & Mika Maliranta, 2005. "Technology, Labour Characteristics and Wage‐productivity Gaps," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(5), pages 623-645, October.
    12. Ito, Takatoshi & Krueger, Anne O. (ed.), 1996. "Financial Deregulation and Integration in East Asia," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226386713, December.
    13. Roth,Felix & Thum, Anna-Elisabeth, 2010. "Does intangible capital affect economic growth?," CEPS Papers 3667, Centre for European Policy Studies.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Klaus Friesenbichler & Agnes Kügler & Julia Schieber-Knöbl, 2023. "Intangible Capital as a Production Factor. Firm-level Evidence from Austrian Microdata," WIFO Working Papers 660, WIFO.
    2. Roth, Felix & Sen, Ali & Rammer, Christian, 2021. "Intangible Capital and Firm-Level Productivity – Evidence from Germany," Hamburg Discussion Papers in International Economics 9, University of Hamburg, Department of Economics.
    3. Szalavetz, Andrea, 2012. "Az immateriális beruházások és a nem közvetlenül a termelésben foglalkoztatottak szerepe a gazdasági felzárkózásban [The role intangible investments and non-production workers play in economic catc," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1187-1206.
    4. Schubert, Torben & Jäger, Angela & Türkeli, Serdar & Visentin, Fabiana, 2020. "Addressing the productivity paradox with big data: A literature review and adaptation of the CDM econometric model," MERIT Working Papers 2020-050, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    5. Paz Rico & Bernardí Cabrer-Borrás & María Mar Benavides-Espinosa, 2020. "Intangible capital and business productivity in the hotel industry," International Entrepreneurship and Management Journal, Springer, vol. 16(2), pages 691-707, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hannu Piekkola, 2016. "Intangible Investment and Market Valuation," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(1), pages 28-51, March.
    2. Roth,Felix & Thum, Anna-Elisabeth, 2010. "Does intangible capital affect economic growth?," CEPS Papers 3667, Centre for European Policy Studies.
    3. Pekka Ilmakunnas & Hannu Piekkola, 2014. "Intangible investment in people and productivity," Journal of Productivity Analysis, Springer, vol. 41(3), pages 443-456, June.
    4. Carolina Hintzmann & Josep Lladós-Masllorens & Raul Ramos, 2021. "Intangible Assets and Labor Productivity Growth," Economies, MDPI, vol. 9(2), pages 1-21, May.
    5. Arrighetti, Alessandro & Landini, Fabio & Lasagni, Andrea, 2014. "Intangible assets and firm heterogeneity: Evidence from Italy," Research Policy, Elsevier, vol. 43(1), pages 202-213.
    6. Alain de Serres & Naomitsu Yashiro & Hervé Boulhol, 2014. "An international perspective on the New Zealand productivity paradox," Working Papers 2014/01, New Zealand Productivity Commission.
    7. Qing Li & Long Hai Vo, 2021. "Intangible Capital and Innovation: An Empirical Analysis of Vietnamese Enterprises," Economics Discussion / Working Papers 21-02, The University of Western Australia, Department of Economics.
    8. Felix Roth & Anna-Elisabeth Thum, 2022. "Intangible Capital and Labor Productivity Growth: Panel Evidence for the EU from 1998–2005," Contributions to Economics, in: Intangible Capital and Growth, chapter 0, pages 101-128, Springer.
    9. Edquist, Harald, 2009. "How Much does Sweden Invest in Intangible Assets?," Working Paper Series 785, Research Institute of Industrial Economics.
    10. Haskel, Jonathan & Wallis, Gavin, 2013. "Public support for innovation, intangible investment and productivity growth in the UK market sector," Economics Letters, Elsevier, vol. 119(2), pages 195-198.
    11. Giglio, Stefano & Severo, Tiago, 2012. "Intangible capital, relative asset shortages and bubbles," Journal of Monetary Economics, Elsevier, vol. 59(3), pages 303-317.
    12. Kyoji Fukao & Tsutomu Miyagawa & Kentaro Mukai & Yukio Shinoda & Konomi Tonogi, 2008. "Intangible Investment in Japan: New Estimates and Contribution to Economic Growth," Global COE Hi-Stat Discussion Paper Series gd08-015, Institute of Economic Research, Hitotsubashi University.
    13. Rammer, Christian & Köhler, Christian, 2012. "Innovationen, Anlageinvestitionen und immaterielle Investitionen," ZEW Discussion Papers 12-085, ZEW - Leibniz Centre for European Economic Research.
    14. Edward M. Graham & Erika Wada, 2001. "Foreign Direct Investment in China: Effects on Growth and Economic Performance," Working Paper Series WP01-3, Peterson Institute for International Economics.
    15. Nazim Belhocine, 2008. "Treating Intangible Inputs As Investment Goods: The Impact On Canadian Gdp," Working Paper 1215, Economics Department, Queen's University.
    16. Rubinstein, A., 2022. "Creative economy of the paternalistic state: What does the coming day hold for us?," Journal of the New Economic Association, New Economic Association, vol. 54(2), pages 209-212.
    17. Sivropoulos-Valero, Anna Alexandra, 2021. "Education and economic growth," LSE Research Online Documents on Economics 114434, London School of Economics and Political Science, LSE Library.
    18. Ramkishen S. Rejan, 1998. "The Currency And Financial Crisis In Southeast Asia - A Case Of `Sudden Deathã¢Â‚¬Â„¢ Or `Death Foretoldã¢Â‚¬Â„¢," Macroeconomics Working Papers 22381, East Asian Bureau of Economic Research.
    19. Anna Valero, 2021. "Education and economic growth," POID Working Papers 006, Centre for Economic Performance, LSE.
    20. Rammer, Christian & Köhler, Christian, 2012. "Innovationsverhalten der Unternehmen in Deutschland 2010: Aktuelle Entwicklungen, Innovationsausgaben und andere Investitionen," Studien zum deutschen Innovationssystem 6-2012, Expertenkommission Forschung und Innovation (EFI) - Commission of Experts for Research and Innovation, Berlin.

    More about this item

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:reroxx:v:27:y:2014:i:1:p:67-85. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rero .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.