APPENDIX Are Intangibles Running out of Steam?

40-62, Spring 2024 ( ) Appendix Table 1 – Investment/Value Added Shares, Real Investment Growth and Capital Stock Growth, Tangible and Intangibles, Market Economy, 1996-2007 and 2011-2019 1996-2007 2008-2010 2011-2019 slowdown: 1996-2007 2008-2010 2011-2019 slowdown: 1996-2007 2008-2010 2011-2019 slowdown: 2011-2019 20. [...] Source: EUKLEMS-INTANProd, 2023 ( ) Appendix Table 2 – Growth Accounting Decomposition of Labour Productivity into Contributions of Tangible and Intangible Capital and Total Factor Productivity, Market Economy, 1996-2007 and 2011-2019 1996-2007 2008-2010 2011-2019 slowdown: 1996-2007 2008-2010 2011-2019 contribution to 2011-2019 the slowdown: minus 2011-2019. [...] Source: EUKLEMS-INTANProd, 2023 ( ) Appendix Table 3 – Growth Accounting Decomposition of Labour Productivity into Contributions of Tangible and Intangible Capital and Total Factor Productivity, Intangible-Intensive and Less Intangible Intensive Industry Groups, Absolute Contributions to Labour Productivity Growth (average annual % growth), 1996-2007 and 2011. [...] The aggregate level of nominal intangible investment as a share of value added is substantially higher in EUKLEMS data than in GH, and the EUKLEMS share also increased whereas it slightly declined according to GH. [...] While this may have slightly lessened the paradoxical situation of a relatively large contribution of intangible capital in the context of weakening productivity growth, the observation that intangible capital has been insufficient in supporting productivity growth during the post-GFC period is maintained.