Chapter 14

Economic valuation of knowledge-based capital: an International comparison

Matilde Mas 1 , André Hofman 2 , and Eva Benages 3       1 University of Valencia and Ivie, Valencia, Spain      2 University of Santiago de Chile, Santiago, Chile      3 Ivie and University of Valencia, Valencia, Spain

Abstract

This chapter uses an alternative approach to measuring the knowledge intensity of economies to those commonly uses that are based on the aggregation of industries according to selected indicators such as R&D expenditure or labor force skills. We follow an economic approach rooted in growth accounting methodology, determining the contribution of each individual factor (capital and labor) according to the prices of the services ...

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