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How Much Does the UK Invest in Intangible Assets?

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Author Info
Giorgio Marrano, Mauro
Haskel, Jonathan

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Abstract

We attempt to replicate for the UK the Corrado, Hulten and Sichel (2005, 2006) work on spending on intangible assets in the US. Their work suggests private sector expenditure (investment) on intangibles is about 13% (11%) of US GDP 1998-2000, with intangible investment about equal to tangible capital investment. Our work, using a similar method, suggests the UK private sector spent, in 2004, about £127bn on intangibles, which is about 11% of UK GDP. The implied investment figure is around £116bn (10% of GDP) which is about equal to UK investment in tangible assets. Of the £127bn expenditure, (in round numbers) about 15% is spent on software, about 10% on scientific R&D, almost 20% on non-scientific R&D (design, product development etc.), about 14% on branding, about 20% on training and the rest on organisational capital.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6287.

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Date of creation: May 2007
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Handle: RePEc:cpr:ceprdp:6287

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Related research
Keywords: intangible assets; investment; organisational capital; R&D; training;

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Find related papers by JEL classification:
E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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  1. Bart van Ark & Charles R. Hulten, 2007. "Innovation, Intangibles and Economic Growth: Towards A Comprehensive Accounting of the Knowledge Economy," Economics Program Working Papers 07-02, The Conference Board, Economics Program. [Downloadable!]
  2. Mika Maliranta & Rita Asplund, 2007. "Training and Hiring Strategies to Improve Firm Performance," Discussion Papers 1105, The Research Institute of the Finnish Economy. [Downloadable!]
  3. Marcel Canoy & Peter Smith, 2008. "Services and the Single Market," Journal of Industry, Competition and Trade, Springer, vol. 8(3), pages 319-347, December. [Downloadable!] (restricted)
  4. Jukka Jalava & Pirkko Aulin-Ahmavaara & Aku Alanen, 2007. "Intangible Capital in the Finnish Business Sector 1975-2005," Discussion Papers 1103, The Research Institute of the Finnish Economy. [Downloadable!]
  5. FUKAO Kyoji & MIYAGAWA Tsutomu, 2007. "Productivity in Japan, the US, and the Major EU Economies: Is Japan Falling Behind?," Discussion papers 07046, Research Institute of Economy, Trade and Industry (RIETI). [Downloadable!]
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