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Productivity and growth in UK industries : an intangible investment approach
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Dal Borgo, Mariela, Goodridge, Peter , Haskel , Jonathan and Pesole, Annarosa (2012) Productivity and growth in UK industries : an intangible investment approach. Oxford Bulletin of Economics and Statistics, Volume 75 (Number 6). pp. 806-834. doi:10.1111/j.1468-0084.2012.00718.x ISSN 0305-9049.
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Official URL: http://dx.doi.org/10.1111/j.1468-0084.2012.00718.x
Abstract
This article calculates some facts for the ‘knowledge economy’. Using new data, first we document UK intangible investment and find that (i) this is greater than tangible investment by £37bn in 2008; (ii) R&D is 11% of total intangible investment, software 15%, and training and organizational capital 22% each; (iii) the most intangible-intensive industries are manufacturing and financial services. Next, we measure the contribution of intangible capital to growth for 2000–08. We find that intangible capital accounts for 23% of labour productivity growth and treating intangibles as investment lowers total factor productivity growth in the 2000s by 24% (R&D lowers it by 3%).
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor |
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| Divisions: | Faculty of Social Sciences > Economics | ||||
| Library of Congress Subject Headings (LCSH): | Economic development -- Great Britain, Knowledge economy -- Great Britain, Investments -- Mathematical models | ||||
| Journal or Publication Title: | Oxford Bulletin of Economics and Statistics | ||||
| Publisher: | Wiley-Blackwell Publishing, Inc | ||||
| ISSN: | 0305-9049 | ||||
| Official Date: | 2012 | ||||
| Dates: |
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| Volume: | Volume 75 | ||||
| Number: | Number 6 | ||||
| Page Range: | pp. 806-834 | ||||
| DOI: | 10.1111/j.1468-0084.2012.00718.x | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access | ||||
| Funder: | National Endowment for Science, Technology and the Arts (Great Britain) (NESTA), Economic and Social Research Council (Great Britain) (ESRC), Technology Strategy Board (Great Britain), Great Britain. Department for Business Innovation and Skills (DBIS), University of Warwick. Department of Economics | ||||
| Grant number: | RES-598-28-0001 (ESRC, NESTA, TSB), ES/I035781/1 (ESRC) | ||||
| Version or Related Resource: | Working paper: Dal Borgo, Mariela, Goodridge, Peter , Haskel , Jonathan and Pesole, Annarosa. (2012) Productivity and growth in UK industries : an intangible investment approach. Working Paper. Coventry, UK: Department of Economics, University of Warwick. (CAGE Online Working Paper Series, No.88/2012). http://wrap.warwick.ac.uk/id/eprint/57854 | ||||
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