Intangible Assets and Productivity: An Occupation-Based Approach

Hannu Piekkola, Carter Bloch, Marina Rybalka, Tjaša Redek

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Abstract

This chapter presents an occupation-based method to measure intangible assets based on linked employer–employee data and shows its importance for analyzing growth and technological change. We broadly define intangible capital as R&D, ICT, and organizational capital. In addition, we apply a recently developed method for valuing the role of the quality of intangible work in the economy. The analysis covers firms with five or more employees in both manufacturing and services in four countries: Denmark, Norway, Finland, and Slovenia. Intangible investments are estimated based on specific (innovative) occupation-related labor costs combined with other related factor inputs used to produce intangibles. Intangible investments are further used in a model that considers improved labor quality as a measure of intangible-work-biased technological change (IBTC). We find that future growth indeed relies on technological change driven by intangibles and related skills, where we observe no decreasing trend since the financial crisis.

OriginalsprogEngelsk
TitelIntangible Assets, Productivity and Economic Growth : Micro, Meso and Macro Perspectives
RedaktørerC. Bloch, A. Protogerou, N.S. Vonortas
Antal sider25
UdgivelsesstedAbingdon
ForlagRoutledge
Publikationsdatofeb. 2024
Sider103-127
Kapitel6
ISBN (Trykt)9781032348674, 9781032348681
ISBN (Elektronisk)9781003324225
DOI
StatusUdgivet - feb. 2024

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