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The contribution of intangible assets to sectoral productivity growth in the EU

  • Niebel, Thomas
  • O'Mahony, Mary
  • Saam, Marianne

In this paper we report on new data on intangible investment at the level of 1-digit NACE industries of 10 EU countries. The data are constructed as a sectoral breakdown of the INTANInvest database, which contains measures of intangible investment at the level of the aggregate business sector. With the sectoral data we assess the contribution of intangibles to productivity growth based on growth accounting and econometric estimation of production functions. The growth accounting contribution of intangibles to labor productivity growth is generally highest in manufacturing and finance. The estimated output elasticity of intangibles lies between 0.1 and 0.2, considerably below values found in previous research using aggregate data.

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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 13-062.

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Date of creation: 2013
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Handle: RePEc:zbw:zewdip:13062
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  1. Dobbelaere, Sabien & Mairesse, Jacques, 2010. "Panel Data Estimates of the Production Function and Product and Labor Market Imperfections," IZA Discussion Papers 5176, Institute for the Study of Labor (IZA).
  2. Felix Roth & Anna-Elisabeth Thum, 2013. "Intangible Capital and Labor Productivity Growth: Panel Evidence for the EU from 1998–2005," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 59(3), pages 486-508, 09.
  3. 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.
  4. Kyoji Fukao & Tsutomu Miyagawa & Kentaro Mukai & Yukio Shinoda & Konomi Tonogi, 2009. "Intangible Investment In Japan: Measurement And Contribution To Economic Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 717-736, 09.
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  6. Adam Copeland & Dennis Fixler, 2012. "Measuring The Price Of Research And Development Output," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 58(1), pages 166-182, 03.
  7. O’Mahony, Mary & Peng, Fei, 2011. "Intangible training capital and productivity in Europe," MPRA Paper 38648, University Library of Munich, Germany.
  8. Macdonald, Ryan & Gu, Wulong & Baldwin, John R., 2012. "Intangible Capital and Productivity Growth in Canada," The Canadian Productivity Review 2012029e, Statistics Canada, Economic Analysis.
  9. Robert Inklaar & Mary O'Mahony & Marcel Timmer, 2005. "ICT AND EUROPE's PRODUCTIVITY PERFORMANCE: INDUSTRY-LEVEL GROWTH ACCOUNT COMPARISONS WITH THE UNITED STATES," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(4), pages 505-536, December.
  10. Robert Inklaar, 2010. "The Sensitivity Of Capital Services Measurement: Measure All Assets And The Cost Of Capital," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(2), pages 389-412, 06.
  11. Mariagrazia Squicciarini & Marie Le Mouel, 2012. "Defining and Measuring Investment in Organisational Capital: Using US Microdata to Develop a Task-based Approach," OECD Science, Technology and Industry Working Papers 2012/5, OECD Publishing.
  12. Hyunbae CHUN & FUKAO Kyoji & HISA Shoichi & MIYAGAWA Tsutomu, 2012. "Measurement of Intangible Investments by Industry and Its Role in Productivity Improvement Utilizing Comparative Studies between Japan and Korea," Discussion papers 12037, Research Institute of Economy, Trade and Industry (RIETI).
  13. Stiroh, Kevin J, 2002. "Are ICT Spillovers Driving the New Economy?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(1), pages 33-57, March.
  14. Haskel, J & Goodridge, P & Wallis, G, 2012. "UK Innovation Index: productivity and growth in UK industries," Working Papers 9786, Imperial College, London, Imperial College Business School.
  15. Crass, Dirk & Licht, Georg & Peters, Bettina, 2014. "Intangible assets and investments at the sector level: Empirical evidence for Germany," ZEW Discussion Papers 14-049, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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