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The relationships between economic growth and intellectual capital: A study in the European Union

Author

Listed:
  • J. L. Alfaro

    (Castilla-La Mancha University, Facultad de Ciencias Económicas y Empresariales, Plaza de la Universidad 1, 02071 Albacete, Spain)

  • V. R. López

    (Castilla-La Mancha University, Albacete, Spain)

  • D. Nevado

    (Castilla-La Mancha University, Albacete, Spain)

Abstract

We are immersed in a knowledge society that calls for indicators to go beyond economic factors to measure the development of a country. In this paper we use an adapted microeconomic model that determines the value of a country’s intellectual capital. For this, we consider intangibles such as human development, economic structure, international trade, foreign image and innovation. This measurement of intellectual capital is divided into human and structural capital and is used to analyse the relationship between these capitals and the economic development of the 27 countries in the European Union (EU27). The results show that when we consider aspects other than economic variables, the differences between countries are larger. Moreover, there is an inverse relationship between the management of intangibles and economic growth, which is why the former progresses after the latter have occurred.

Suggested Citation

  • J. L. Alfaro & V. R. López & D. Nevado, 2011. "The relationships between economic growth and intellectual capital: A study in the European Union," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 61(3), pages 293-312, September.
    • Handle: RePEc:aka:aoecon:v:61:y:2011:i:3:p:293-312
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    Citations

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    Cited by:

    1. Domingo Nevado-Peña & Víctor-Raúl López-Ruiz & José-Luis Alfaro-Navarro, 2015. "The Effects of Environmental and Social Dimensions of Sustainability in Response to the Economic Crisis of European Cities," Sustainability, MDPI, vol. 7(7), pages 1-15, June.
    2. Víctor Raúl López Ruiz & Domingo Nevado Peńa & José Luis Alfaro Navarro & Adriana Grigorescu, 2014. "Human Development European City Index: Methodology And Results," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 72-87, October.

    More about this item

    Keywords

    knowledge society; intellectual capital; indicators; European Union;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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