Measuring intangible assets in an emerging market economy: an application to Brazil
AbstractThis paper measures intangible investment in Brazil. It estimates that during 2000-2008, annual business spending on intangible assets or knowledge-based capital in Brazil averaged about 4 percent of gross domestic product. While this is significantly lower than comparable rates for the United States, Japan and the United Kingdom, which hover around 11 percent, it is not too far below estimates for other developed countries such as Italy and Spain. Of the total expenditure on intangible assets in 2006, about 23 percent was spent on computer software and databases, 43 percent on innovative property (predominantly research and development and new product development in financial services), and 34 percent on economic competencies (which comprises branding, employee training and organization improvement). Brazil's share of spending on economic competencies is markedly lower than that observed in the United States and the United Kingdom, and the analysis finds it to be the slowest growing of the major intangible categories. Finally, having extended the intangible investment estimation methodology to produce more disaggregated (industry-level) estimates, the authors show that intangible investment is positively correlated with recent export growth and total factor productivity estimates across manufacturing industries. This suggests that intangible or knowledge-based capital, as measured here, can account for part of the hitherto unexplained component of productivity growth.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 6142.
Date of creation: 01 Jul 2012
Date of revision:
Debt Markets; Emerging Markets; Economic Theory&Research; Investment and Investment Climate; E-Business;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-29 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nick Bloom & Ben Eifert & Aprajit Mahajan & David McKenzie & John Roberts, 2010.
"Does management matter?: evidence from India,"
LSE Research Online Documents on Economics
36366, London School of Economics and Political Science, LSE Library.
- Bloom, Nicholas & Eifert, Benn & Mahajan, Aprajit & McKenzie, David & Roberts, John, 2010. "Does Management Matter?: Evidence from India," Research Papers 2074, Stanford University, Graduate School of Business.
- Nick Bloom, 2011. "Does management matter?: evidence from India," LSE Research Online Documents on Economics 36391, London School of Economics and Political Science, LSE Library.
- Nicholas Bloom & David McKenzie, 2010. "Does Management Matter? Evidence From India," Discussion Papers 10-014, Stanford Institute for Economic Policy Research.
- Nicholas Bloom & Benn Eifert & Aprajit Mahajan & David McKenzie & John Roberts, 2011. "Does Management Matter? Evidence from India," CEP Discussion Papers dp1042, Centre for Economic Performance, LSE.
- Bloom, Nicholas & Eifert, Benn & Mahajan, Aprajit & McKenzie, David & Roberts, John, 2011. "Does management matter ? evidence from India," Policy Research Working Paper Series 5573, The World Bank.
- Nicholas Bloom & Benn Eifert & Aprajit Mahajan & David McKenzie & John Roberts, 2011. "Does Management Matter? Evidence from India," NBER Working Papers 16658, National Bureau of Economic Research, Inc.
- Giorgio Marrano, Mauro & Haskel, Jonathan, 2007.
"How Much Does the UK Invest in Intangible Assets?,"
CEPR Discussion Papers
6287, C.E.P.R. Discussion Papers.
- Cecilia Iona Lasinio & Massimiliano Iommi & Stefano Manzocchi, 2011. "Intangible capital and Productivity Growth in European Countries," Working Papers LuissLab 1191, Dipartimento di Economia e Finanza, LUISS Guido Carli.
- Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2009.
"What Happened To The Knowledge Economy? Ict, Intangible Investment, And Britain'S Productivity Record Revisited,"
Review of Income and Wealth,
International Association for Research in Income and Wealth, vol. 55(3), pages 686-716, 09.
- Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2007. "What Happened to the Knowledge Economy? ICT, Intangible Investment and Britain's Productivity Record Revisited," Working Papers 603, Queen Mary, University of London, School of Economics and Finance.
- Ferreira, Susana & Hamilton, Kirk, 2010. "Comprehensive wealth, intangible capital, and development," Policy Research Working Paper Series 5452, The World Bank.
- Nicholas Bloom & Christos Genakos & Raffaella Sadun & John Van Reenen, 2011.
"Management Practices Across Firms and Countries,"
CEP Discussion Papers
dp1109, Centre for Economic Performance, LSE.
- Harald Edquist, 2011.
"CAN INVESTMENT IN INTANGIBLES EXPLAIN THE SWEDISH PRODUCTIVITY BOOM IN THE 1990s?,"
Review of Income and Wealth,
International Association for Research in Income and Wealth, vol. 57(4), pages 658-682, December.
- Edquist, Harald, 2009. "Can Investment in Intangibles Explain the Swedish Productivity Boom in the 1990s?," Working Paper Series 809, Research Institute of Industrial Economics.
- Gaganan Awano & Mark Franklin & Jonathan Haskel & Zafeira Kastrinaki, 2010. "Measuring investment in intangible assets in the UK: results from a new survey," Economic and Labour Market Review, Palgrave Macmillan, vol. 4(7), pages 66-71, July.
- Nazim Belhocine, 2009. "Treating Intangible Inputs As Investment Goods," IMF Working Papers 09/240, International Monetary Fund.
- 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.
- Dutz, Mark A., 2013. "Resource reallocation and innovation : converting enterprise risks into opportunities," Policy Research Working Paper Series 6534, The World Bank.
- Dutz, Mark A. & O'Connell, Stephen D., 2013. "Productivity, innovation and growth in Sri Lanka : an empirical investigation," Policy Research Working Paper Series 6354, The World Bank.
- Omoye Sule Alade, 2013. "Determinants of Intangibles Assets Disclosure in Annual Report: Evidence from Nigerian Quoted Companies," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 3(5), pages 1152-1165, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi).
If references are entirely missing, you can add them using this form.