Innovativeness and intangibles in transition: the case of Slovenia
The article presents the micro data on intangibles for Slovenia in the period 1994–2005 using an augmented method of Corrado et al. (2005) and analyses the role of intangibles in the Slovenian economy during the transition. By examining the organizational, ICT and R&D component of intangibles, we observe a decrease in the value of R&D capital that was to some extent offset by an increase in the value of ICT capital. We find that organizational workers had higher productivity than the average worker. The dynamic of changes was gradual during the transition. The capitalization of intangibles implied an average 4.5% increase of GDP for the new member states. Nonetheless, a worrying convergence can be observed between the tangible and the intangible capital. One can thus expect the intangibles having an important role in the future growth in Slovenia and across the European countries, but only if proper attention is devoted to them in terms of policy measures and regulation.
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