Intangible Capital and Growth
Preface
About the Author
Contents
Chapter 1: The Productivity Puzzle: A Critical Assessment and an Outlook on the COVID-19 Crisis
1 Introduction
2 Determinants of Labor Productivity Growth
3 Labor Productivity Growth, 1950-2006
4 The Productivity Puzzle, 2007-2015
5 Intangible Capital and the Productivity Puzzle
6 An Outlook on the COVID-19 Crisis and Labor Productivity Growth
7 Conclusion
References
Chapter 2: Revisiting Intangible Capital and Labor Productivity Growth, 2000-2015: Accounting for the Crisis and Economic Reco...
1 Introduction
2 Theoretical Linkages between Intangible Capital and Labor Productivity Growth
3 Estimates on Intangible Capital
4 Previous Empirical Results
5 Model Specification, Research Design and Data
5.1 Model Specification
5.2 Research Design
5.3 Data Sources
5.4 A Note on the Construction of Intangible Capital Stocks
5.5 A Note on the Construction of Intangible and Tangible Capital Services
6 Descriptive Analysis
7 Econometric Estimation
8 Conclusions
Appendix 1 Construction of Intangible and Tangible Capital Services Growth
Appendix 2 Descriptive Statistics
Appendix 3 A Comparison of INNODRIVE and INTAN-Invest datasets
References
Chapter 3: The Rule of Law and Labor Productivity Growth by Businesses: Evidence for the EU, 1998-2005
1 Introduction
2 The Rule of Law and Labor Productivity Growth by Businesses: Theoretical Links in an EU Context
2.1 Direct Influence of the Rule of Law on Labor Productivity Growth by Businesses
2.2 Indirect Influence of the Rule of Law on Labor Productivity Growth by Businesses
3 Model Specifications, Research Design, Operationalization, and Data
3.1 Model Specifications
3.1.1 A Model for the Direct Contribution of the Rule of Law to Labor Productivity Growth
3.1.2 The Indirect Contribution of the Rule of Law to Labor Productivity Growth
3.2 Research Design
3.3 Operationalization and Measurement of the Data
4 Empirical Description of the Rule of Law within the EU
5 Econometric Results
5.1 Econometric Results between the Rule of Law and Labor Productivity Growth
5.2 Determinants of Intangible and Tangible Business Capital Investment
6 Empirical Conclusion, Discussion, and Policy Conclusion
6.1 Empirical Conclusion
6.2 Discussion of the Results Considering the Underlying Theoretical Literature
6.3 Policy Conclusions
Appendices
Appendix 1 Operationalization of the Rule of Law
Appendix 2 An External Instrument for Measuring the Rule of Law in the Context of Development Economics
Appendix 3 Selected Statistics
References
Chapter 4: Organizational Trust, Fear of Job Loss, and TFP Growth: A Sectoral Analysis for the EU
1 Introduction
2 Theoretical Links
2.1 Organizational Capital and Economic Performance
2.2 Organizational Trust and Economic Performance
2.3 Fear of Job Loss and Economic Performance
3 Model Specification, Research Design, and Data
3.1 Model Specification
3.2 Research Design
3.3 Data
4 Descriptive Statistics
5 Econometric Analysis
5.1 Sensitivity of Results
5.2 How Do these Results Fit in with Other Existing Empirical Results?
5.3 Objective Forces Driving Job Insecurity at the Individual Level
6 Conclusion
Appendix
References
Chapter 5: Intangible Capital and Labor Productivity Growth: Panel Evidence for the EU from 1998-2005
1 Introduction
2 Theoretical Links between Business Intangible Capital and Labor Productivity Growth
2.1 Theoretical Relationship between Intangible Capital and Labor Productivity Growth
2.2 The Treatment of Intangible Expenditures
3 Estimates of Intangible Capital Investment
4 Previous Empirical Results
5 Model Specification, Research Design, and Data
5.1 Model Specification
5.2 Research Design
5.3 Data
5.4 A Note on the Construction of Intangible Capital Stocks
5.5 A Note on the Construction of Intangible and Tangible Capital Services
6 Descriptive Analysis
7 Econometric Analysis
7.1 Sensitivity Analysis
8 Conclusion
Appendices
Appendix 1 Descriptive Statistics
Appendix 2 Construction of Intangible and Tangible Capital Services
References
Chapter 6: Measuring Innovation: Intangible Capital Investment in the EU
1 Innovation and EU 2020: Is R&D the Sole Factor for Measuring Innovativeness?
2 How Does R&D Investment by Businesses Compare to Investment in Intangibles in the EU?
3 Comparison between Tangible and Intangible Capital Investment in the EU
4 Conclusion
References
Chapter 7: Does Too Much Trust Hamper Economic Growth?
Introduction
1 Theoretical Links Between Social Capital, Trust, and Economic Growth
1.1 Social Capital and Trust
1.2 Relationship Between Social Capital, Trust, and Economic Growth
2 Previous Findings
3 Data and Measurement
3.1 Operationalization
3.2 Model Specification
3.3 Measurement of Data
4 Descriptive Statistics
5 Econometric Analysis
5.1 Cross-Sectional Analysis
5.2 Pooled Panel Analysis
5.3 Panel Analysis
5.3.1 Sensitivity Analysis
6 Conclusion
Appendix
References
Chapter 8: Social Capital, Trust, and Economic Growth
1 Introduction
2 Extension of the Neoclassical Model Assumption
3 Criticism of the Concept of Social Capital or Why Is There Capital in Social Capital?
4 The State of the Art and Definition of Social Capital
4.1 ColemanΒ΄s Definition of Social Capital
4.2 PutnamΒ΄s Definition of Social Capital
5 Interpersonal Trust
6 Positive Correlation between Social Capital, Trust, and Growth
7 Negative Relationship Between Social Capital, Trust, and Growth
7.1 Mancur Olson
7.2 Mistrust, Fear, and Economic Growth
8 Operationalization of Social Capital
9 Social Capital, Trust, and Economic Growth: Empirical Findings
10 Concluding Remarks
References