Returns to intangible capital in global value chains: New evidence on trends and policy determinants
Intangible capital, a broad category of knowledge-based assets that lack physical embodiment, increasingly shapes the distribution of income in global value chains (GVCs). While some intangible assets are reported in national accounts (e.g. R&D or computer software and databases), others are har...
Gespeichert in:
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| Weitere Verfasser: | , , , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2020
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| Schriftenreihe: | OECD Trade Policy Papers
no.240 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Intangible capital, a broad category of knowledge-based assets that lack physical embodiment, increasingly shapes the distribution of income in global value chains (GVCs). While some intangible assets are reported in national accounts (e.g. R&D or computer software and databases), others are hard to detect in conventional statistics (e.g. brand value or organisational capital). In this paper, we combine information on factor income from national accounts with the OECD Inter-Country Input-Output tables in order to estimate returns to measured (i.e. included in national accounts) and 'unmeasured' intangible capital (captured as a residual) in GVCs. We find that total intangible capital accounts for about 27% of income in manufacturing GVCs and that this share has increased between 2005 and 2015 in OECD countries. The paper highlights differences across GVC stages and specific types of GVCs. A significant share of income is captured at the distribution stage, particularly in buyer-driven value chains. An econometric analysis suggests that trade and investment openness are important determinants of patterns in returns to intangible capital in GVCs. Direct public funding of R&D and the quality of intellectual property protection are associated with higher returns to intangible assets. |
| Beschreibung: | 1 Online-Ressource (62 p.) |
| DOI: | 10.1787/4cd06f19-en |
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| spelling | Alsamawi, Ali VerfasserIn aut Returns to intangible capital in global value chains New evidence on trends and policy determinants Ali, Alsamawi ... [et al] Paris OECD Publishing 2020 1 Online-Ressource (62 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Trade Policy Papers no.240 Intangible capital, a broad category of knowledge-based assets that lack physical embodiment, increasingly shapes the distribution of income in global value chains (GVCs). While some intangible assets are reported in national accounts (e.g. R&D or computer software and databases), others are hard to detect in conventional statistics (e.g. brand value or organisational capital). In this paper, we combine information on factor income from national accounts with the OECD Inter-Country Input-Output tables in order to estimate returns to measured (i.e. included in national accounts) and 'unmeasured' intangible capital (captured as a residual) in GVCs. We find that total intangible capital accounts for about 27% of income in manufacturing GVCs and that this share has increased between 2005 and 2015 in OECD countries. The paper highlights differences across GVC stages and specific types of GVCs. A significant share of income is captured at the distribution stage, particularly in buyer-driven value chains. An econometric analysis suggests that trade and investment openness are important determinants of patterns in returns to intangible capital in GVCs. Direct public funding of R&D and the quality of intellectual property protection are associated with higher returns to intangible assets. Trade Cadestin, Charles MitwirkendeR ctb Jaax, Alexander MitwirkendeR ctb Guilhoto, Joaquim MitwirkendeR ctb Miroudot, Sébastien MitwirkendeR ctb Zürcher, Carmen MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/4cd06f19-en Volltext |
| spellingShingle | Alsamawi, Ali Returns to intangible capital in global value chains New evidence on trends and policy determinants Trade |
| title | Returns to intangible capital in global value chains New evidence on trends and policy determinants |
| title_auth | Returns to intangible capital in global value chains New evidence on trends and policy determinants |
| title_exact_search | Returns to intangible capital in global value chains New evidence on trends and policy determinants |
| title_full | Returns to intangible capital in global value chains New evidence on trends and policy determinants Ali, Alsamawi ... [et al] |
| title_fullStr | Returns to intangible capital in global value chains New evidence on trends and policy determinants Ali, Alsamawi ... [et al] |
| title_full_unstemmed | Returns to intangible capital in global value chains New evidence on trends and policy determinants Ali, Alsamawi ... [et al] |
| title_short | Returns to intangible capital in global value chains |
| title_sort | returns to intangible capital in global value chains new evidence on trends and policy determinants |
| title_sub | New evidence on trends and policy determinants |
| topic | Trade |
| topic_facet | Trade |
| url | https://doi.org/10.1787/4cd06f19-en |
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