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2014, vol. 61, br. 3, str. 261-274
jezik rada: engleski
vrsta rada: izvorni naučni članak

Economic growth and intangible capitals: Europe versus Asia
(naslov ne postoji na srpskom)
aFaculty of Economics and Business Sciences, University of Castilla-La Mancha, Spain
bDepartment of Applied Economy - Econometrics, University of Castilla-La Mancha, Spain
cDepartment of Financial Economics and Accounting, University of Castilla-La Mancha, Spain



(ne postoji na srpskom)
At present, the international growth model includes important restrictions about the consideration of GDP as a unique tool for measurement. In this sense, taking into consideration the wealth of a country, we must add intangibles such as human development, country image, employment conditions, environmental, innovation, public sector efficiency, and synergies to the variable production, which is defined as national intellectual capital. In this paper, we use a mathematical model of intellectual capital to determine, in monetary terms, the intangible elements that have a greater impact on long-term economic development in European and Asian countries. We have the main limitation of available information and we provide objective results using statistical method. By identifying these components, countries will be able to redirect their policies toward achieving sustainable long-term growth. The results show that the long-term growth of both continents are strongly dependent on the skills of their human resources, but register differences in structural factors such as trade, innovation, or environment.

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