Intangible Assets and Labor Productivity Growth
| Autor: | Raúl Ramos Lobo, Carolina Hintzmann, Josep Lladós Masllorens |
|---|---|
| Přispěvatelé: | Universitat Oberta de Catalunya (UOC), Universitat de Barcelona |
| Rok vydání: | 2021 |
| Předmět: |
Economic growth
Productivitat laboral labor productivity Economics Econometrics and Finance (miscellaneous) Sample (statistics) Development Industrial policy Investigació Intangible asset Order (exchange) Manufacturing 0502 economics and business ddc:330 media_common.cataloged_instance Intangible property Investments 050207 economics European union HB71-74 Research question Industrial organization Recerca media_common Public economics business.industry Research Member states 05 social sciences Labor productivity Inversions Investment (macroeconomics) intangible capital Organizational capital manufacturing Manufacturing sector Identification (information) Economics as a science Béns immaterials Vocational education Business 050203 business & management |
| Zdroj: | Economies, Vol 9, Iss 82, p 82 (2021) Dipòsit Digital de la UB Universidad de Barcelona Economies Volume 9 Issue 2 O2, repositorio institucional de la UOC Universitat Oberta de Catalunya (UOC) |
| ISSN: | 2227-7099 |
| DOI: | 10.3390/economies9020082 |
| Popis: | We examine the contribution to labor productivity growth in the manufacturing sector of investment in different intangible asset categories—computerized information, innovative property, and economic competencies—for a set of 18 European countries between 1995 and 2017, as well as whether this contribution varies between different groups of countries. The motivation is to go a step further and identify which single or combination of intangible assets are relevant. The main findings can be summarized as follows. Firstly, all the three different categories of intangible assets contribute to labor productivity growth. In particular, intangible assets related to economic competences together with innovative property assets have been identified as the main drivers specifically, advertising and marketing, organizational capital, research and development (R& D) investment, and design. Secondly, splitting the sample of European Union (EU) member states into three groups—northern, central and southern Europe—allows for the identification of a significant differentiated behavior between and within groups, in terms of the effects of investment in intangible assets on labor productivity growth. We conclude that measures promoting investment in intangibles at EU level should be accompanied by specific measures focusing on each country’s needs, for the purpose of promoting labor productivity growth. The obtained evidence suggests that the solution for the innovation deficit of some European economies consist not only of raising R& D expenditure, but also exploiting complementarities between different types of assets. |
| Databáze: | OpenAIRE |
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