Measurement of National Non-Visible Wealth through Intellectual Capital

Víctor Raul Lopez Ruiz (), Domingo Nevado Pena (), Jose Luis Alfaro Navarro (), Leonardo Badea, Adriana Grigorescu () and Liviu Voinea
Additional contact information
Víctor Raul Lopez Ruiz: Department of Applyed Economy – Econometrics, University of Castilla La Mancha – UCLM
Domingo Nevado Pena: Department of Financial Economics and Accounting, UCLM
Jose Luis Alfaro Navarro: Faculty of Economic and Business Sciences, UCLM
Liviu Voinea: Faculty of International Business , Academy of economic Studies, Bucharest

Journal for Economic Forecasting, 2011, issue 3, 200-212

Abstract: The economy of knowledge requires measures of national wealth that take into account aspects not contemplated by GDP, in order to portray the situation of a country more truthfully. In this paper, we use a new model to measure the intellectual capital of nations, adapted from microeconomics. It is based on the observation of hidden capital as implicit generator of long-term wealth, considering not only sustainability and social wellbeing, but also intangible assets such as human development, economic structure, international trade, foreign image and innovation. This empirical study reveals the importance of hidden capital in a nation’s wealth, making the difference where economic growth is concerned, as the most developed countries record the highest scores of efficiency in terms of intangible capital.

Keywords: knowledge economy indicators; hidden wealth; intangibles; GDP (search for similar items in EconPapers)
JEL-codes: F02 J24 O3 O57 (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.ipe.ro/rjef/rjef3_11/rjef3_2011p200-212.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2011:i:3:p:200-212

Access Statistics for this article

Journal for Economic Forecasting is currently edited by Lucian Liviu Albu and Corina Saman

More articles in Journal for Economic Forecasting from Institute for Economic Forecasting Contact information at EDIRC.
Bibliographic data for series maintained by Corina Saman ( this e-mail address is bad, please contact ).