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Intangible capital and Productivity Growth in European Countries

Author

Listed:
  • Cecilia Iona Lasinio

    () (Istat and Luiss Lab)

  • Massimiliano Iommi

    () (ISTAT)

  • Stefano Manzocchi

    () (Università Luiss "Guido Carli")

Abstract

This paper provides evidence about the diffusion of intangible investment across the EU27 member countries and investigates the role of intangible capital as a source of growth to improve our understanding of the international differences in the mix of drivers of productivity growth across Europe. Our study shows that the capitalization of intangible assets, allow identifying additional sources of long-run growth. We show that intangibles have been a relevant source of growth across European countries and that they cannot be omitted from national accounts. In particular, the ?unexplained? component of macro-economic dynamics, the Total Factor Productivity, becomes less important, while physical capital turns out to be strongly complementary with intangible capital.

Suggested Citation

  • 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.
  • Handle: RePEc:lui:lleewp:1191
    as

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    File URL: http://static.luiss.it/RePEc/pdf/lleewp/1191.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Dutz, Mark A. & Kannebley, Sergio Jr. & Scarpelli, Maira & Sharma, Siddharth, 2012. "Measuring intangible assets in an emerging market economy: an application to Brazil," Policy Research Working Paper Series 6142, The World Bank.
    2. Cecilia Jona-Lasinio & Stefano Manzocchi, 2014. "Intangible Assets and Productivity Growth Differentials across EU Economies: The Role of ICT and R&D," Rivista di Politica Economica, SIPI Spa, issue 1, pages 355-381, January-M.
    3. Štěpán Jurajda & Juraj Stančík, 2013. "Organization and Firm Performance in the Czech Republic," Prague Economic Papers, University of Economics, Prague, vol. 2013(1), pages 85-110.
    4. Carol A. Robbins & Mary L. Streitwieser & William A. Jolliff, 2010. "R&D and Other Intangible Assets in an Input-Output Framework: Experimental Estimates with U.S. Data," BEA Working Papers 0065, Bureau of Economic Analysis.
    5. 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.
    6. Carol Coorado & Jonathan Haskel & Cecilia Iona Lasinio & Massimiliano Iommi, 2012. "Intangible Capital and Growth Strategies for Advanced Economies: Measurement and Comparative Results," Working Papers LuissLab 12101, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    7. Bernd Görzig & Martin Gornig, 2013. "Intangibles, Can They Explain the Dispersion in Return Rates?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 59(4), pages 648-664, December.
    8. Jan de Kok & Sophie Doove & Peter Oeij & Karolus Kraan, 2014. "Scale effects in workplace innovations," Scales Research Reports H201402, EIM Business and Policy Research.
    9. Hannu Piekkola, 2016. "Intangible Investment and Market Valuation," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(1), pages 28-51, March.

    More about this item

    Keywords

    Intangible capital; Productivity Growth; European countries;

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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