The Telefónica Foundation and the Ivie has developed the following study on intangible assets for: Activos intangibles: una inversión necesaria para el crecimiento económico en España [Intangible assets: a required investment for economic growth in Spain].Given the growing importance of activities based on knowledge in the economic development of most advanced countries, investment on intangibles assets (the Information and communications technology (ICT), research and development (R&D), innovation, design, creativity, image and brand, organization and specific human capital training) are assets in which investment is needed to modernize and strengthen the Spanish productive structure.
This project follows the international methodology widely accepted by the majority of countries (see the published work by Carol Corrado, Charles Hulten and Daniel Sichel in National Bureau of Economic Research 2005, Measuring Capital and Technology: An Expanded Framework) and is clearly in line with the INTAN-Invest initiative [www.intan-invest.net] that calculates intangible investment for a group of European countries.
Structure of the database
This study offers the first database on a yearly basis of the value of investment in intangible assets and its capitalization for the period 1995 to 2011 for the whole Spanish economy. One of its most outstanding feature is the wide level of sectoral disaggregation (24 sectors, NACE Rev.2).
The intangible assets used in the database are the following:
- Computerized information
- Innovative property
- Mineral exploration and spending on the production of entertainment and artistic originals
- New products/systems in financial services
- Design and other new products/systems
- Economic competencies
- Market research
- Employer-provided training
- Organizational capital
- Investment in intangible assets
- Nominal intangible investment by asset type and sector (thousands of current euros) (PcAxis)
- Real intangible investment by asset type and sector (thousands of constant euros in 2005) (PcAxis)
- Real annual rate variation (Törnqvist) of intangible investment by asset type and sector (percentage) (PcAxis)
- Endowment of intangible assets
- Nominal accumulated endowment by asset type and sector (thousands of current euros) (PcAxis)
- Real accumulated endowment by asset type and sector (thousands of constant euros in 2005) (PcAxis)
- Real annual rate variation (Törnqvist) of accumulated endowment by asset type and sector (percentage) (PcAxis)
The complete database (investment and endowment) is available in the following Excel file
The results of this study can be seen in greater detail in the book, Activos intangibles: una inversión necesaria para el crecimiento económico en España [Intangible assets: a required investment for economic growth in Spain], where the most relevant literature on the problems of measurement of intangible assets is reviewed. Also, the main results of allocations of intangible assets in Spain are discussed and compared internationally.
This publication and dataset was presented in the context of the panel discussion Intangible Assets. A necessary condition for economic growth in Spain held on June 10th, 2015 in the Espacio Fundación Telefónica. The session was addressed by Emilio Ontiveros, Iñigo Parra and Javier Quesada and was moderated by Matilde Mas.
Video of the presentation of the project
How to cite this database
Telefónica Foundation-Ivie (Instituto Valenciano de Investigaciones Económicas). Activos intangibles. June 2015. Database available at: http://www.ivie.es/es/banco/activos-intangibles.php