Sources of Growth: Measuring the Knowledge Based Economy

Meijers, Huub and Hollanders, Hugo (2003). Sources of Growth: Measuring the Knowledge Based Economy. UNU-MERIT Research Memoranda. UNU-MERIT.

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  • Sub-type Working paper
    Author Meijers, Huub
    Hollanders, Hugo
    Title Sources of Growth: Measuring the Knowledge Based Economy
    Series Title UNU-MERIT Research Memoranda
    Volume/Issue No. 29
    Publication Date 2003
    Publisher UNU-MERIT
    Language eng
    Abstract For seven European countries macro-level indicators of the accumulation of intangible capital are developed. Using hedonic prices deflate investments in IT hardware, IT software and telecommunication equipment, for both intangibles and 'smart' tangibles capital stocks are constructed. These capital stock data are then used as an input to analyse the productivity effects for the business sector in the 1990s of all components, including traditional inputs like labour and (raw) capital. Increases in labour productivity can be explained by both an increase in labour quality and a further increase in capital deepening, esp. in the deepening of ICT capital. Several sensitivity analyses are carried out to test the robustness of the results for changes in the parameter assumptions in constructing the investment series and capital stocks.
    Copyright Year 2003
    Copyright type All rights reserved
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    Created: Fri, 13 Dec 2013, 12:40:45 JST