Roth, F. (2020). Revisiting intangible capital and labour productivity growth, 2000-2015
Accounting for the crisis and economic recovery in the EU
This paper aims to revisit the relaitionship between intangible capital and labour productivity growth using the largest, up-tp-date macro database (2000-2015) available to corroborate the econometric findings of earlier work and to generate novel econometric evidence by accounting for times of crisis (2008-2013) and economic recovery (2014-2015).
- When accounting for intangibles, the paper finds that these intangibles have become the dominant source of labour productivity growth in the EU, explaining up to 66 percent of growth
- When accounting for times of crisis (2008-2013), in contrast to tangible capital, the paper detects a solid positive relaitionship between intangibles and labour productivity growth.
- When accounting for the economic recovery (2014-2015), the paper finds a highly significant and remarkable strong relaitionship between intangible capital and labour productivity growth.
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