Intangible Assets and Economic Growth

Basic conceptual, statistical and measurement aspects of the intangible assets are considered regarding to their contribution to the economic growth. The increasing importance of the intangible assets in the modern economy is described. The role of the intangible assets in the creating of the information society and the knowledge-based economy is stressed. Issues of definition and statistical accounting of the intangible assets are discussed. The two basic approaches of value-relevance of intangible investment are presented. The evolution of the approaches to measuring the intangibles' contribution to the economic growth from the perspective of the theories of growth is given in brief.