 Investment dynamics in Europe: Distinct drivers and barriers for investing in intangible versus tangible assets?Anna Thum-Thysen, Peter Voigt, Beñat Bilbao-Osorio, Christoph Maier and Diana Ognyanova Structural Change and Economic Dynamics, 2019, vol. 51, issue C, 77-88 Abstract: In this paper, we look at the determinants of investment in intangible assets in Europe and explore whether their drivers and barriers are the same as for tangible assets. Our assessment suggests that tangible and intangible assets indeed appear to be affected somewhat differently by some of the tested key determinants. For instance, the regulatory framework seems to be more relevant for investment in intangibles while financial conditions, and in particular the availability of external funding, appear to be more relevant for tangible investment. Moreover, some evidence of complementarities between investments across different asset types suggests that a barrier to investment relevant for one asset type may indirectly impede investment in other assets too as there are synergies among different asset types, notably between tangible and intangible assets but also between different types of intangible assets. Keywords: Investment; Innovation; Intangible capital; Productivity (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:51:y:2019:i:c:p:77-88 DOI: 10.1016/j.strueco.2019.06.010 Access Statistics for this article Structural Change and Economic Dynamics is currently edited by F. Duchin, H. Hagemann, M. Landesmann, R. Scazzieri, A. Steenge and B. Verspagen More articles in Structural Change and Economic Dynamics from Elsevier |
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