276
Views
0
CrossRef citations to date
0
Altmetric
Development Economics

Intellectual capital and economic growth: evidence from some selected countries

ORCID Icon, &
Article: 2330429 | Received 17 Oct 2023, Accepted 10 Mar 2024, Published online: 31 Mar 2024

References

  • Abramovitz, M. (1956). Resource and output trends in the United States since 1870. The American Economic Review, 46(2), 5–23.
  • Aghion, P., & Howitt, P. (1992). A model of growth through creative destruction. Econometrica, 60(2), 323–351. https://doi.org/10.2307/2951599
  • Alfaro, J. L., Lopez, V. R., & Nevado, D. (2014). Economic growth and intangible capitals: Europe versus Asia. Panoeconomicus, 61, 261–274.
  • Arndt, H. W. (1981). Economic development: A semantic history. Economic Development and Cultural Change, 29(3), 457–466. https://doi.org/10.1086/451266
  • Bersvendsen, T., & Ditzen, J. (2021). Testing for slope heterogeneity in Stata. The Stata Journal: Promoting Communications on Statistics and Stata, 21(1), 51–80. https://doi.org/10.1177/1536867X211000004
  • Blomquist, J., & Westerlund, J. (2013). Testing slope homogeneity in large panels with serial correlation. Economics Letters, 121(3), 374–378. https://doi.org/10.1016/j.econlet.2013.09.012
  • Bohm-Bawerk, E. (1891). The positive theory of capital (W. Smart, Trans.), Macmillan.
  • Chen, P., Karavias, Y., & Tzavalis, E. (2022). Panel unit-root tests with structural breaks. The Stata Journal: Promoting Communications on Statistics and Stata, 22(3), 664–678. https://doi.org/10.1177/1536867X221124541
  • Chudik, A., & Pesaran, M. H. (2015). Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors. Journal of Econometrics, 188(2), 393–420. https://doi.org/10.1016/j.jeconom.2015.03.007
  • Chudik, A., Mohaddes, K., Pesaran, M. H., & Raissi, M. (2016). Long-run effects in large heterogeneous panel data models with cross-sectionally correlated errors. In R. C. Hill, G. Gonzalez-Rivera, & T.-H. Lee (Eds.), Essays in honor of Aman Ullah (Advances in econometrics) (vol. 36, no. 135). Emerald Group Publishing Limited.
  • Clark, J. B. (1886). The philosophy of wealth: Economic principles newly formulated. GINN & Company.
  • Coe, D. T., & Helpman, E. (1995). International R&D spillovers. European Economic Review, 39(5), 859–887. https://doi.org/10.1016/0014-2921(94)00100-E
  • Coe, D. T., Helpman, E., & Hoffmaister, A. (2009). International R&D spillovers and institutions. European Economic Review, 53(7), 723–741. https://doi.org/10.1016/j.euroecorev.2009.02.005
  • Cohen, W. M., & Levinthal, D. A. (1989). Innovation and learning: The two faces of R&D. The Economic Journal, 99(397), 569–596. https://doi.org/10.2307/2233763
  • Comin, D. (2004). R&D: A small contribution to productivity growth. Zootaxa, 5420(1), 1–121. https://doi.org/10.1007/s10887-004-4541-6
  • Dinopoulos, E., & Thompson, P. (1998). Schumpeterian growth without scale effects. Journal of Economic Growth, 3(4), 313–335. https://doi.org/10.1023/A:1009711822294
  • Ditzen, J. (2018). Estimating dynamic common-correlated effects in Stata. The Stata Journal: Promoting Communications on Statistics and Stata, 18(3), 585–617. https://doi.org/10.1177/1536867X1801800306
  • Ditzen, J. (2021). Estimating long-run effects and the exponent of cross-sectional dependence: An update to xtdcce2. The Stata Journal: Promoting Communications on Statistics and Stata, 21(3), 687–707. https://doi.org/10.1177/1536867X211045560
  • Ditzen, J., Karavias, Y., & Westerlund, J. (2021). Testing and estimating structural breaks in time series and panel data in Stata. arXiv:2110.14550v2.
  • Domar, E. D. (1961). On the measurement of technological change. The Economic Journal, 71(284), 709–729. https://doi.org/10.2307/2228246
  • Edvinsson, L., & Malone, M. S. (1997). Intellectual capital: Realizing your company’s true value by finding its hidden brainpower. Harper Business.
  • Fabricant, S. (1954). Economic progress and economic change. In 34th Annual Report of NBER.
  • Fagerberg, J., & Verspagen, B. (2009). Innovation studies-The emerging structure of a new scientific field. Research Policy, 38(2), 218–233. https://doi.org/10.1016/j.respol.2008.12.006
  • Fan, J., Liao, Y., & Yao, J. (2015). Power enhancement in high-dimensional cross-sectional tests. Econometrica, 83(4), 1497–1541.http://www.jstor.org/stable/43616976. https://doi.org/10.3982/ECTA12749
  • Feenstra, R. C., Inklaar, R., & Timmer, M. P. (2015). The next generation of the Penn World Table. American Economic Review, 105(10), 3150–3182. https://doi.org/10.1257/aer.20130954
  • Godin, B. (2015). Innovation: A conceptual history of an anonymous concept.
  • Gordon, R. J. (2018). Why has economic growth slowed when innovation appears to be accelerating? NBER WP24554. National Bureau of Economic Research.
  • Griliches, Z. (1957). Hybrid corn: An exploration in the economics of technological change. Econometrica, 25(4), 501–522. https://doi.org/10.2307/1905380
  • Griliches, Z. (1973). Research expenditures and growth accounting. In B. R. Williams (Ed.), Science and Technology in Economic Growth. International Economic Association Conference Volumes, Numbers 1–50. London: Palgrave Macmillan. https://doi.org/10.1007/978-1-349-01731-7_3
  • Haavelom, T. (1954). A study in the theory of economic evolution. North-Holland Publishing Company.
  • Hayek, F. A. (1935). The maintenance of capital. Economica, 2(7), 241–276.
  • Howitt, P. (1999). Steady endogenous growth with population and R&D inputs growing. Journal of Political Economy, 107(4), 715–730. https://doi.org/10.1086/250076
  • Howitt, P., & Aghion, P. (1998). Capital accumulation and innovation as complementary factors in long-run growth. Journal of Economic Growth, 3(2), 111–130. https://doi.org/10.1023/A:1009769717601
  • Jednak, S., Dmitrovic, V., & Damnjanovic, V. (2017). Intellectual capital as a driver of economic development. Journal of Economics and Business, 15(2), 77–84.
  • Johnston, R. E. (1966). Technical progress and innovation. Oxford Economic Papers, 18(2), 158–176. https://doi.org/10.1093/oxfordjournals.oep.a041016
  • Jones, C. I. (1995). R&D-based models of economic growth. Journal of Political Economy, 103(4), 759–784.http://www.jstor.org/stable/2138581
  • Jones, C. I. (1996). Human capital, ideas, and economic growth. Palgrave Macmillan UK.
  • Kaldor, N. (1954). The relation of economic growth and cyclical fluctuations. The Economic Journal, 64(253), 53–71. https://doi.org/10.2307/2227090
  • Kao, C., Chiang, M., & Chen, B. (1999). International R&D spillovers: An application of estimation and inference in panel cointegration. SSRN Electronic Journal, 61(51), 691–709. https://doi.org/10.2139/ssrn.1807962
  • Karavias, Y., & Tzavalis, E. (2014). Testing for unit roots in short panels allowing for a structural break. Computational Statistics & Data Analysis, 76(c), 391–407. https://doi.org/10.1016/j.csda.2012.10.014
  • Kim, D.-Y., & Kumar, V. (2009). A framework for prioritization of intellectual capital indicators in R&D. Journal of Intellectual Capital, 10(2), 277–293. https://doi.org/10.1108/14691930910952669
  • Kortum, S. S. (1997). Research, patenting, and technological change. Econometrica, 65(6), 1389–1420. https://doi.org/10.2307/2171741
  • Kuzkin, Y., Cherkashyna, T., Nebaba, N., & Kuchmacz, B. (2019). Economic growth of the country and NIC. Problems and Perspectives in Management, 17(1), 348–359. https://doi.org/10.21511/ppm.17(1).2019.30
  • Laudardale, E. (1819). An inquiry into the nature and origin of public wealth and in to the means and cause of its increase (1804).
  • Lichtenberg, F. R., & De La Potterie, B. V. P. (1998). International R&D spillovers: A comment. European Economic Review, 42(8), 1483–1491. https://doi.org/10.1016/S0014-2921(97)00089-5
  • Lucas, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22(1), 3–42. https://doi.org/10.1016/0304-3932(88)90168-7
  • Mačerinskiene, I., & Aleknaviciute, R. (2017). National intellectual capital influence on economic growth in the EU. Quarterly Journal of Economics and Economic Policy, 12(4), 573–592. https://doi.org/10.24136/eq.v12i4.30
  • Marcin, K. (2013). Intellectual capital as a key factor of socio-economic development of regions and countries. Procedia Economics and Finance, 6, 288–295. https://doi.org/10.1016/S2212-5671(13)00142-1
  • Marshall, A. (1890). Principles of economics (8th ed.). Palgrave Classics in Economics.
  • Metcalfe, S. (2009). Technology and economic theory, Papers on economics and evolution, No. 0909, Max-Planck-Inst.
  • Michalczuk, G., & Fiedorczuk, J. (2017). Macroeconomic perspective of intellectual capital. Optimum. Studia Ekonomiczne, 5(89), 117–133. https://doi.org/10.15290/ose.2017.05.89.08
  • Mill, J. S. (1848). Principles of political economy with some of their application to social philosophy (7th ed.). Longmans.
  • Nelson, R. R. (1956). A theory of the low-level equilibrium trap in underdeveloped economies. The American Economic Review, 46(5), 894–908.
  • Nelson, R. R., & Phelps, E. (1966). Investment in humans, technological diffusion, and economic growth. The American Economic Review, 56, 69–75.
  • Nelson, R. R., & Winter, S. (1982). An evolutionary theory of economic change. Harvard University Press.
  • Nelson, R. R., & Winter, S. (2002). Evolutionary theorizing in economics. Journal of Economic Perspectives, 16(2), 23–46. https://doi.org/10.1257/0895330027247
  • Osiobe, E. U. (2019). A literature review of human capital and economic growth. Business and Economic Research, 9(4), 179. https://doi.org/10.5296/ber.v9i4.15624
  • Pedro, E., Leitão, J., & Alves, H. (2018). Back to the future of intellectual capital research: A systematic literature review. Management Decision, 56(11), 2502–2583. https://doi.org/10.1108/MD-08-2017-0807
  • Peretto, P. (1998). Technological change and population growth. Journal of Economic Growth, 3(4), 283–311. https://doi.org/10.1023/A:1009799405456
  • Persyn, D., & Westerlund, J. (2008). Error-correction–based cointegration tests for panel data. The Stata Journal: Promoting Communications on Statistics and Stata, 8(2), 232–241. https://doi.org/10.1177/1536867X0800800205
  • Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica, 74(4), 967–1012. https://doi.org/10.1111/j.1468-0262.2006.00692.x
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of CSD. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
  • Pesaran, M. H. (2015). Time series and panel data econometrics. Oxford University Press.
  • Pesaran, M. H. (2021). General diagnostic tests for CSD in panels. Empirical Economics, 60(1), 13–50. https://doi.org/10.1007/s00181-020-01875-7
  • Pietrucha, J., Żelazny, R., Kozłowska, M., & Sojka, O. (2018). Import and FDI as channels of international TFP spillovers. Equilibrium. Quarterly Journal of Economics and Economic Policy, 13(1), 55–72. https://doi.org/10.24136/eq.2018.003
  • Romer, P. (1990). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102. https://doi.org/10.1086/261725
  • Romer, P. (1993). Idea gaps and object gaps in economic development. Journal of Monetary Economics, 32(3), 543–573. https://doi.org/10.1016/0304-3932(93)90029-F
  • Romer, P. (2010). Technologies, rules, and progress: The case for charter cities. Center for Global Development Essay No.1423916.
  • Rossi, F. (2020). Human capital and macroeconomic development: A review of the evidence. The World Bank Research Observer, 35(2), 227–262. https://doi.org/10.1093/wbro/lkaa002.
  • Salomon, J. J. (1984). What is technology? The issue of its origins and definitions, history and technology. History and Technology, 1(2), 113–156. https://doi.org/10.1080/07341518408581618
  • Schultz, T. W. (1956). Reflections on agricultural production, output and supply. Journal of Farm Economics, 38(3), 748. https://doi.org/10.2307/1234459
  • Schumpeter, J. A. (1911). [1949]). The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle. HU Press.
  • Segerstrom, P. S. (1998). Endogenous growth without scale effects. American Economic Review, 88(5), 1290–1310.
  • Smith, A. (1776). An inquiry into the nature and causes of the wealth of nations. In E. Cannan (Ed.), Elec book classics.
  • Sokół, A. (2017). Diagnosis of IC in macroeconomic terms on the example of Szczecin and opportunities for development of creative sector. HRM& Ergonomics, 11(2), 59–75.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The Quarterly Journal of Economics, 70(1), 65–94. https://doi.org/10.2307/1884513
  • Solow, R. M. (1957). Technical change and the aggregate production function. The Review of Economics and Statistics, 39(3), 312–320. https://doi.org/10.2307/1926047
  • Solow, R. M. (1963). Capital theory and the rate of return. North-Holland.
  • Spiegel, H. W. (1955). Theories of economic development: History and classification. Journal of the History of Ideas, 16(4), 518–539. https://doi.org/10.2307/2707508
  • Ståhle, P., Ståhle, S., & Lin, C. (2015). Intangibles and national economic wealth – a new perspective on how they are linked. Journal of Intellectual Capital, 16(1), 20–57. https://doi.org/10.1108/JIC-02-2014-0017
  • Thakkar, J. J. (2021). Multi-criteria decision making. Studies in systems, decision and control. Springer. https://doi.org/10.1007/978-981-33-4745-8
  • Uziene, L. (2014). National intellectual capital as an indicator of the wealth of nations: The case of the Baltic States. Social and Behavioral Sciences, 156, 376–381.
  • Veblen, T. (1908). On the nature of capital. The Quarterly Journal of Economics, 22(4), 517–542. https://doi.org/10.2307/1884915
  • Weitzman, M. L. (1998). Recombinant growth. The Quarterly Journal of Economics, 113(2), 331–360. https://doi.org/10.1162/003355398555595
  • Young, A. (1998). Growth without scale effects. Journal of Political Economy, 106(1), 41–63. https://doi.org/10.1086/250002