Brands As Productive Assets: Concepts, Measurement, and Global Trends
The paper looks at brands from an economic point of view. First, we define concepts and set out this approach. Second, we analyze the conditions under which brands are long-lived productive assets and contribute to economic growth. Third, we review and improve the measurement of investment in brands. We find that a productive role for brands is consistent with assumptions used in the economic analysis of innovation. Productivity decompositions using the intangibles framework support brand as a contributor to economic growth. We then develop (1) a new U.S. series for brand investment to cover all marketing, including “in-house” investment, and (2) a harmonized global indicator of brand investment covering 63 countries. We find that brand investment held up relatively well in the U.S. during the Great Recession and its aftermath whereas measures based mainly on purchased advertising services send a different signal. Finally we offer an analysis of economic development that suggests branding rises with growth and provide econometric evidence showing a significant positive relationship between the rate of brand investment and level of economic development.
|Date of creation:||Jan 2014|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +41 22 338 9111
Fax: +41 22 733 54 28
Web page: http://www.wipo.int/econ_stat/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carol Corrado & Jonathan Haskel & Cecilia Jona-Lasinio & Massimiliano Iommi, 2012.
"Intangible Capital and Growth in Advanced Economies: Measurement Methods and Comparative Results,"
Economics Program Working Papers
12-03, The Conference Board, Economics Program.
- Corrado, Carol & Haskel, Jonathan & Jona-Lasinio, Cecilia & Iommi, Massimiliano, 2012. "Intangible Capital and Growth in Advanced Economies: Measurement Methods and Comparative Results," IZA Discussion Papers 6733, Institute for the Study of Labor (IZA).
- Haskel, J & Corrado, C & Jona-Lasinio, C & Iommi, M, 2012. "Intangible capital and growth in advanced economies: measurement methods and comparative results," Working Papers 9913, Imperial College, London, Imperial College Business School.
- Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2007.
"What Happened to the Knowledge Economy? ICT, Intangible Investment and Britain's Productivity Record Revisited,"
603, Queen Mary University of London, School of Economics and Finance.
- Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2009. "What Happened To The Knowledge Economy? Ict, Intangible Investment, And Britain'S Productivity Record Revisited," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 686-716, 09.
- Ferdinand Rauch, 2011.
"Advertising Expenditure and Consumer Prices,"
CEP Discussion Papers
dp1073, Centre for Economic Performance, LSE.
- Haskel, J & Corrado, C & Jona-Lasinio, C & Iommi, M, 2013. "Innovation and intangible investment in Europe, Japan and the US," Working Papers 11139, Imperial College, London, Imperial College Business School.
- Carol Corrado & Peter Goodridge & Jonathan Haskel, 2011.
"Constructing a Price Deflator for R&D: Calculating the Price of Knowledge Investments as a Residual,"
Economics Program Working Papers
11-03, The Conference Board, Economics Program.
- Haskel, J & Goodridge, P & Corrado, C, 2011. "Constructing a price deflator for R&D: calculating the price of knowledge investments as a residual," Working Papers 9028, Imperial College, London, Imperial College Business School.
- Robert E. Hall, 1986.
"The Relation Between Price and Marginal Cost in U.S. Industry,"
NBER Working Papers
1785, National Bureau of Economic Research, Inc.
- Hall, Robert E, 1988. "The Relation between Price and Marginal Cost in U.S. Industry," Journal of Political Economy, University of Chicago Press, vol. 96(5), pages 921-47, October.
- Edquist, Harald, 2009. "How Much does Sweden Invest in Intangible Assets?," Working Paper Series 785, Research Institute of Industrial Economics.
- Leonard I. Nakamura, 2005. "Advertising, intangible assets, and unpriced entertainment," Working Papers 05-11, Federal Reserve Bank of Philadelphia.
- Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-29, March-Apr.
- Avi Goldfarb & Catherine Tucker, 2011. "Search Engine Advertising: Channel Substitution When Pricing Ads to Context," Management Science, INFORMS, vol. 57(3), pages 458-470, March.
When requesting a correction, please mention this item's handle: RePEc:wip:wpaper:13. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Economics and Statistics Division)
If references are entirely missing, you can add them using this form.