Intangible Capital: Complement or Substitute in the Creation of Public Goods?

Martin Gornig and Alexander Schiersch

VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: This paper tests whether intangible capital is a substitute or, to some degree, a complement to standard inputs in the production process. The analysis is conducted for public sectors in which governmental institutions are directly responsible both for efficiently producing public goods and for investing in new production factors. The results reveal that intangible capital is a relevant input factor in the production of public goods and only weakly substitutable with other inputs.

JEL-codes: D20 E22 E23 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-cta and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168266

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