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Working paper

Вклад нематериальных активов в экономический рост: как меняются оценки при переходе от СНС 1993 к СНС 2008?

Investment in intangible assets is a significant growth driver in the knowledge economy. The work is devoted to assessing the contribution of intangible assets to economic growth. The paper discusses a change in the approach to accounting for intangible assets in the 2008 SNA compared to the 1993 SNA. The 2008 SNA involves expanding production boundaries and considering research and development as the main, not ancillary activity, which is associated with a corresponding additional capitalization of this type of intangible assets. The latter does not in itself mean an increase in the contribution of intangible assets to growth, as well as an increase in growth itself. This will only happen if new assets grow with a high growth rate and have a significant share. The paper compares estimates of the contribution of intangible assets to growth within the 1993 SNA and within the 2008 SNA. The estimates are made using the KLEMS databases. The data for the EU countries are compared in the period 1995–2009 within the boundaries of the 1993 SNA and within the boundaries of the 2008 SNA, as well as data for Russia and the EU countries in the period 2004–2016 within the boundaries of the 2008 SNA. Based on the results of the calculations carried out for most of the countries under consideration, taking into account the expanded list of intangible assets changed the understanding of their role in growth. For Russia, after the transition to the 2008 SNA, estimates of the contribution of intangible assets to growth have increased. However, in European countries the opposite results are observed. For example, for the UK, the inclusion of R&D to assess sources of growth has reduced the contribution of intangible assets. The paper considers the possible reasons for the indicated differences in the obtained results of the estimates.