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Investment in Intangible Capital: An Enterprise Perspective

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  • ELIZABETH WEBSTER
  • PAUL H. JENSEN

Abstract

As the amount of tangible matter in the world is fixed, the growth and deployment of intangible capital in the production process must be the sole source of productivity growth and thus our ability to enhance the (material) quality of life. This survey paper takes stock of our knowledge about enterprise investment in intangible capital, most particularly, with respect to the current debate over its measurement, the types of market failure associated with its production and use, the mechanisms used to appropriate the returns it generates and the ways in which it is diffused throughout the economy. We argue that the most fruitful policy is to eliminate 'known' deadweight losses that have only small side-effects on the incentive to create. Copyright 2006 The Economic Society Of Australia.

Suggested Citation

  • Elizabeth Webster & Paul H. Jensen, 2006. "Investment in Intangible Capital: An Enterprise Perspective," The Economic Record, The Economic Society of Australia, vol. 82(256), pages 82-96, March.
  • Handle: RePEc:bla:ecorec:v:82:y:2006:i:256:p:82-96
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    Citations

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    Cited by:

    1. Tronconi, Claudia & Vittucci Marzetti, Giuseppe, 2011. "Organization capital and firm performance. Empirical evidence for European firms," Economics Letters, Elsevier, vol. 112(2), pages 141-143, August.
    2. Cher LI & Richard HARRIS, "undated". "Learning-by-Exporting? Firm-Level Evidence for UK Manufacturing and Services Sectors," EcoMod2008 23800080, EcoMod.
    3. Bansha Dulal, H. & Foa, R., 2011. "Social Institutions as a Form of Intangible Capital," ISD Working Paper Series 2011-01, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    4. repec:mje:mjejnl:v:12:y:2017:i:1:p:51-62 is not listed on IDEAS
    5. repec:mje:mjejnl:v:13:y:2017:i:1:p:51-62 is not listed on IDEAS
    6. Paul H. Jensen & Elizabeth Webster, 2006. "Managing Knowledge Flows through Appropriation and Learning Strategies," Melbourne Institute Working Paper Series wp2006n06, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    7. Emanuela Marrocu & Raffaele Paci & Marco Pontis, 2011. "Intangible capital and firms productivity (refereed paper)," ERSA conference papers ersa10p496, European Regional Science Association.
    8. Emanuela Marrocu & Raffaele Paci & Marco Pontis, 2012. "Intangible capital and firms' productivity," Industrial and Corporate Change, Oxford University Press, vol. 21(2), pages 377-402, April.
    9. Alfons Palangkaraya, 2010. "Patent Application Databases," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 43(1), pages 77-87.
    10. 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.

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