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Intangible Capital, Innovation, and Growth in China

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  • Fleisher, Belton
  • McGuire, William
  • Smith, Adam
  • Zhou, Mi

Abstract

We study the relationship between industry-level investments in intangible capital (IC) and three key economic indicators in China. We find that investments in IC are productivity-enhancing among Chinese enterprises—more so in domestically owned than in foreign invested enterprises. Consistent with other research, we find that China’s IC generates new patents, but fewer than in major industrialized economies. Among domestically owned enterprises, we find that IC growth has been associated with increasing export-competitiveness, while among foreign invested enterprises, it has been oriented more toward improving domestic sales.

Suggested Citation

  • Fleisher, Belton & McGuire, William & Smith, Adam & Zhou, Mi, 2014. "Intangible Capital, Innovation, and Growth in China," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 171957, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:171957
    DOI: 10.22004/ag.econ.171957
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    References listed on IDEAS

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    1. Hu, Albert Guangzhou & Jefferson, Gary H., 2009. "A great wall of patents: What is behind China's recent patent explosion?," Journal of Development Economics, Elsevier, vol. 90(1), pages 57-68, September.
    2. Chong-En Bai & Chang-Tai Hsieh & Yingyi Qian, 2006. "The Return to Capital in China," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 37(2), pages 61-102.
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