Is Ireland the most intangible intensive economy in Europe? A growth accounting perspective
通过增长核算方法，在剔除跨国公司扭曲交易后，发现官方无形资产投资对爱尔兰劳动生产率的实际贡献较小，而实物资本才是主要驱动力。
Assessing the contribution of intangible investment to growth is a challenging and complex task for any country. However, it has become increasingly difficult to determine both the exact magnitude of economic performance and its composition in the case of the Irish economy. This is mainly due to the impact of certain distortionary transactions by a select number of multinationals operating in the Irish jurisdiction. In this paper, we address this issue by assessing, in a detailed manner, the contribution of intangible and tangible assets to the Irish growth story. We control for distortions in the official investment data series while also incorporating intangible assets that are not currently included in the National Accounts. Our results show that the observed unprecedented increase in the official intangible investment has a relatively minor contribution to the actual Irish labor productivity growth. Once the distortions are filtered out, Irish labor productivity growth is driven by tangible capital. More interestingly, non‐national accounts intangible capital has a sizeable pro‐cyclical impact on labor productivity growth.