Introduction

Carol Yeh-Yun Lin, Leif Edvinsson, Jeffrey Chen and Tord Beding
Additional contact information
Carol Yeh-Yun Lin: National Chengchi University
Leif Edvinsson: Universal Networking Intellectual Capital
Jeffrey Chen: Accenture
Tord Beding: TC-Growth AB

Chapter Chapter 1 in National Intellectual Capital and the Financial Crisis in Brazil, Russia, India, China, Korea, and South Africa, 2013, pp 1-5 from Springer

Abstract: Abstract In the first decade of the new millennium, the biggest event that caught worldwide attention was the 2008 global financial crisis, which was brought about primarily by ineffective governance, failed surveillance systems, and implementation flaws. These problems are mainly intangible in nature. Therefore, examining the financial crisis from the viewpoint of intangible asset provides a different perspective from traditional economic approaches. National intellectual capital (NIC), mainly consisting of human capital, market capital, process capital, renewal capital, and financial capital, is a valuable intangible asset and a key source of national competitive advantage in today’s knowledge economy. This booklet looks into the connections between the 2008 global financial crisis and NIC development with a special focus on the BRICKS—Brazil, Russia, India, China, Korea, and South Africa. In addition to the summaries of financial crisis impact, the aftermath, future prospects, and challenges of each individual country, NIC analysis based on data covering 2005–2010 for 48 countries reveals that the higher the NIC, the higher the GDP per capita (ppp). Graphical presentations of various types allow for intra-country and intercountry comparisons to position the reported four countries on a world map of NIC-GDP codevelopment. By looking into tangible economic development along with the intangible NIC development, this booklet provides valuable implications for policy makers.

Keywords: Foreign Direct Investment; Financial Crisis; International Monetary Fund; Euro Area; Global Financial Crisis (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-1-4614-6089-3_1

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DOI: 10.1007/978-1-4614-6089-3_1

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