The contribution of intangible assets to sectoral productivity growth in the EU
AbstractIn this paper we report on new data on intangible investment at the level of 1-digit NACE industries of 10 EU countries. The data are constructed as a sectoral breakdown of the INTANInvest database, which contains measures of intangible investment at the level of the aggregate business sector. With the sectoral data we assess the contribution of intangibles to productivity growth based on growth accounting and econometric estimation of production functions. The growth accounting contribution of intangibles to labor productivity growth is generally highest in manufacturing and finance. The estimated output elasticity of intangibles lies between 0.1 and 0.2, considerably below values found in previous research using aggregate data. --
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Bibliographic InfoPaper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 13-062.
Date of creation: 2013
Date of revision:
Intangible Assets; Labor Productivity; Growth Accounting; Panel Regressions;
Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ACC-2013-09-13 (Accounting & Auditing)
- NEP-ALL-2013-09-13 (All new papers)
- NEP-EFF-2013-09-13 (Efficiency & Productivity)
- NEP-EUR-2013-09-13 (Microeconomic European Issues)
- NEP-FDG-2013-09-13 (Financial Development & Growth)
- NEP-MAC-2013-09-13 (Macroeconomics)
- NEP-PBE-2013-09-13 (Public Economics)
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