The economic meaning of ‘intangible capital’ (according to World Bank research)
In the following article, it will be proven on the basis of correlation analysis that ‘intangible capital,’ interpreted by the World Bank as both human capital and the quality of the institutions supporting economic activity, in fact represents the actual capacities of a given country to export non-commodity goods. The significant amount of ‘intangible capital’ found in highly developed countries lies in sharp contrast to the relatively smaller amount found in Russia; explained by its colonial-type trade system and the multiplier effect of added value.
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