Publication year: 2022
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It is now widely recognized that intangible capital has been a crucial element in the growth performance of these economies and their firms. In the author's view, “intangible capital” serves as the most appropriate umbrella term for capturing several dimensions of capital that are not tangible in nature but are nevertheless fundamentally important for growth. The term encompasses investments in education (human capital) and in informal (social capital) and formal (rule of law) institutions by the public sector and households, as well as investments by businesses aimed at enhancing their knowledge base, such as software, innovative property, and economic competencies.
Subject: Economics and Finance, Political Economy, Economic Systems, Macroeconomics, Monetary Economics, Financial Economics, International EconomicsIntangible Capital, Labour Productivity Growth, Euro, EMU, Political Economy, Economic Crisis