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2014 | OriginalPaper | Chapter

1. Introduction

Authors : Carol Yeh-Yun Lin, Leif Edvinsson, Jeffrey Chen, Tord Beding

Published in: National Intellectual Capital and the Financial Crisis in Austria, Belgium, the Netherlands, and Switzerland

Publisher: Springer New York

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Abstract

In the first decade of the new millennium, the biggest event that caught worldwide attention was the 2008 global financial crisis, which was brought about primarily by ineffective governance, failed surveillance systems, and implementation flaws. These problems are mainly intangible in nature. Therefore, examining the financial crisis from the viewpoint of intangible asset provides a different perspective from traditional economic approaches. National intellectual capital (NIC), mainly consisting of human capital, market capital, process capital, renewal capital, and financial capital, is a valuable intangible asset and a key source of national competitive advantage in today’s knowledge economy. This booklet looks into the connections between the 2008 global financial crisis and NIC development with a special focus on Austria, Belgium, The Netherlands, and Switzerland. In addition to the summaries of financial crisis impact, the aftermath, future prospects, and challenges of each individual country, NIC analysis based on data covering 2005–2010 for 48 countries reveal that the higher the NIC, the higher the GDP per capita (ppp). Graphical presentations of various types allow for intracountry and intercountry comparisons to position the reported four countries on a world map of NIC-GDP codevelopment. By looking into tangible economic development along with intangible NIC development, this booklet provides valuable implications for policy makers.

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Footnotes
1
The 12 pillars include: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
 
Metadata
Title
Introduction
Authors
Carol Yeh-Yun Lin
Leif Edvinsson
Jeffrey Chen
Tord Beding
Copyright Year
2014
Publisher
Springer New York
DOI
https://doi.org/10.1007/978-1-4614-8021-1_1

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