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Intangible capital and the economic growth in Poland

Author

Listed:
  • Robert Pater

    (University of Information Technology and Management in Rzeszów, Department of Economics)

  • Łukasz Cywiński

    (University of Information Technology and Management in Rzeszów, Department of Economics)

  • Ruslan Harasym

    (University of Information Technology and Management in Rzeszów, Department of Economics)

  • Kazimierz Tarchalski

    (University of Information Technology and Management in Rzeszów, Department of Economics)

Abstract

The influence of intangible capital on the economic growth in Poland has never been thoroughly analysed. This article contains estimates of the production function with intangible capital and provides growth accounting extended to the intangible capital. We present the estimates of intangible capital formation for 1995–2013 in Poland. We supply previous studies with the analysis of changes in real intangible capital formation and the effects of accumulated intangible capital on GDP. Since most of the intangible capital components have not been accounted for in the national accounts, we suggest possible improvements in economic growth measurement. We show that intangible capital had a significant impact on economic growth in Poland during 1995–2013, accounting for at least one third of the economic growth. The most probable output elasticity with respect to intangible capital is 0.2 to 0.3.

Suggested Citation

  • Robert Pater & Łukasz Cywiński & Ruslan Harasym & Kazimierz Tarchalski, 2018. "Intangible capital and the economic growth in Poland," Bank i Kredyt, Narodowy Bank Polski, vol. 49(2), pages 93-114.
    • Handle: RePEc:nbp:nbpbik:v:49:y:2018:i:2:p:93-114
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    File URL: https://bankikredyt.nbp.pl/content/2018/02/BIK_02_2018_01.pdf
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    Citations

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    Cited by:

    1. Krisztina Soreg, 2018. "Post-Crisis Growth and Development Slowdown of Central Eastern European Countries from the Middle-Income Trap Perspective," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 4(1), pages 1-20, June.

    More about this item

    Keywords

    intangible capital; national accounts; growth factors; knowledge-intensive economy;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights

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