Knowledge Spillovers, ICT and Productivity Growth

30 Pages Posted: 5 Jul 2014

See all articles by Carol A. Corrado

Carol A. Corrado

The Conference Board; Georgetown University - Center for Business and Public Policy

Jonathan Haskel

Imperial College Business School; Centre for Economic Policy Research (CEPR); IZA Institute of Labor Economics

Cecilia Jona-Lasinio

Italian Institute of Statistics

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Abstract

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the marginal impact of ICT capital is higher when it is complemented with intangible capital, and (b) non-R&D intangible capital has a higher estimated output elasticity than its conventionally-calculated factor share. These findings suggest investments in knowledge-based capital, i.e., intangible capital, produce productivity growth spillovers via mechanisms beyond those previously established for R&D.

Keywords: productivity growth, economic growth, intangible capital, intangible assets, ICT, spillovers

JEL Classification: O47, E22, E01

Suggested Citation

Corrado, Carol A. and Haskel, Jonathan and Jona-Lasinio, Cecilia, Knowledge Spillovers, ICT and Productivity Growth. Available at SSRN: https://ssrn.com/abstract=2462706 or http://dx.doi.org/10.2139/ssrn.2462706

Carol A. Corrado (Contact Author)

The Conference Board ( email )

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Jonathan Haskel

Imperial College Business School ( email )

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Centre for Economic Policy Research (CEPR)

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IZA Institute of Labor Economics

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Cecilia Jona-Lasinio

Italian Institute of Statistics ( email )

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Department of National Accounts and Economic Analysis
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Italy
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+390646733157 (Fax)

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