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Intangible capital and the economic growth in Poland

Robert Pater (), Łukasz Cywiński, Ruslan Harasym and Kazimierz Tarchalski
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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

Bank i Kredyt, 2018, vol. 49, issue 2, 93-114

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.

Keywords: intangible capital; national accounts; growth factors; knowledge-intensive economy (search for similar items in EconPapers)
JEL-codes: O30 O40 P24 P26 (search for similar items in EconPapers)
Date: 2018
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