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Estimation of intellectual capital in the European Union using a knowledge model

Author

Listed:
  • Jose Luis Alfaro Navarro

    () (University of Castilla–La Mancha, Faculty of Economics and Business Administration of Albacete, Albacete, Spain)

  • Victor Raul Lopez Ruiz

    (University of Castilla–La Mancha, Faculty of Economics and Business Administration of Albacete, Albacete, Spain)

  • Domingo Nevado Pena

    (University of Castilla–La Mancha, Faculty of Law and Social Sciences of Ciudad Real, Ciudad Real, Spain)

Abstract

This paper presents a model aimed at measuring intellectual capital as the potential knowledge of a country and apply it to the European Union. The method consists of activating accountable expenses, assumed to generate knowledge. In order to do so, efficiency indicators are used, derived from a summary of variables of structural, human and technological capitals by means of factor analysis. The results of this study for the EU25 in 2006 explain why Northern Europe has greater intellectual capital potential. They are more productive, as they manage and apply new technologies better. In human capital, Eastern countries have strong potential. The paper concludes that, at the conceptual level, this information should be used to design convergence policies and balanced development strategies to ensure economic growth.

Suggested Citation

  • Jose Luis Alfaro Navarro & Victor Raul Lopez Ruiz & Domingo Nevado Pena, 2011. "Estimation of intellectual capital in the European Union using a knowledge model," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics, vol. 29(1), pages 109-132.
  • Handle: RePEc:rfe:zbefri:v:29:y:2011:i:1:p:109-132
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters,in: This Time Is Different: Eight Centuries of Financial Folly Princeton University Press.
    2. Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    intellectual capital; knowledge economy; indicators; European Union;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis

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