1,721,160 research outputs found
Knowledge spillovers, ICT and productivity growth
No full textThis paper looks at the channels through which intangible assets affect productivity growth.The econometric analysis exploits a new data set on intangible investment (INTAN-Invest)in conjunction with EUKLEMS productivity estimates for 10 EU member states from1998 to 2007. We find that (a) the output elasticity of intangible capital depends uponICT intensity, consistent with complementarities between ICT and intangible capital; (b)non-R&D intangible capital has a higher estimated output elasticity than its factor share, asdoes (c) an index of labour composition. The last two findings are consistent with growthspillovers from investments in knowledge-based/intangible capital and skills
Labour Productivity and Foreign Direct Investment in Irish Manufacturing Industry: A Decomposition Analysis
Full text linkOverall labour productivity in the Irish manufacturing sector increased by 158 per cent between 1991 and 1999. This growth in labour productivity coincided with strong growth in employment during the same period, in stark contrast to the experience of other European countries. This paper examines the components of this labour productivity growth in the period 1991-1999, using a decomposition analysis based on plant level data. In order to account for the large presence of foreign plants we carry out our analysis separately for foreign and domestic plants, as well as for four ownership subgroups, four sectoral subgroups, and two time sub-periods. Our results show that although the main drivers of average labour productivity growth in all groups arise within plant and from plant entry, there are marked differences in the relative sizes of these effects across the ownership/sector/time-period.
Intangible capital and growth in advanced economies: Measurement methods and comparative results
Full text linkWe present a harmonized data set on intangible investment for a number of EU countries and an analysis of growth
Intangible investment in the EU and US before and since the Great Recession and its contribution to productivity growth
Full text linkThis paper uses a new cross-country cross-industry dataset on investment in tangible and intangible assets for 18 European countries and the US. We set out a framework for measuring intangible investment and capital stocks and their effect on output, inputs and total factor productivity. The analysis provides evidence on the diffusion of intangible investment across Europe and the US over the years 2000-2013 and offers growth accounting evidence before and after the Great Recession in 2008-2009. Our major findings are the following. First, tangible investment fell massively during the Great Recession and has hardly recovered, whereas intangible investment has been relatively resilient and recovered fast in the US but lagged behind in the EU. Second, the sources of growth analysis including only national account intangibles (software, R&D, mineral exploration and artistic originals), suggest that capital deepening is the main driver of growth, with tangibles and intangibles accounting for 80% and 20% in the EU while both account for 50% in the US, over 2000-2013. Extending the asset boundary to the intangible assets not included in the national accounts (Corrado, Hulten and Sichel (2005)) makes capital deepening increases. The contribution of tangibles is reduced both in the EU and the US (60% and 40% respectively) while intangibles account for a larger share (40% in EU and 60% in the US). Then, our analysis shows that since the Great Recession, the slowdown in labour productivity growth has been driven by a decline in TFP growth with relatively a minor role for tangible and intangible capital. Finally, we document a significant correlation between stricter employment protection rules and less government investment in R&D, and a lower ratio of intangible to tangible investment
Knowledge Spillovers, ICT and Productivity Growth
Full text linkThis paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the marginal impact of ICT capital is higher when it is complemented with intangible capital, and (b) non-R&D intangible capital has a higher estimated output elasticity than its conventionally-calculated factor share. These findings suggest investments in knowledge-based capital, i.e., intangible capital, produce productivity growth spillovers via mechanisms beyond those previously established for R&D
Innovation and Intangible Investment in Europe, Japan and the United States
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Intangible capital, innovation, and productivity à la Jorgenson evidence from Europe and the United States
No full textThis chapter focuses on intangible capital as source of economic growth in Europe and the United States. It (1) sets out a Jorgenson-like model for thinking about the role of knowledge investments and innovation in fostering economic growth; (2) uses standard growth accounting decompositions to illustrate the empirical relevance of intangible capital deepening as a source of growth, and (3) considers how knowledge spillovers from investments in both R&D and non-R&D intangible assets might contribute to productivity
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