Community Research and Development Information Service - CORDIS


Final Report - IAREG (Intangible Assets and Regional Economic Growth)

Project ID: 216813
Funded under: FP7-SSH


Globalisation and increased competition are putting new types of pressure on companies and, by extension, on the regions that depend on their success. Flexibility, the ability to immediately adapt to market developments, and pro-activism in creating future markets, are the earmarks of this new era. The relative importance of (physical) resource endowment as drivers of regional growth is decreasing as these factors are now almost ubiquitously available. However, 'soft' production factors, that is those related to personal bounded knowledge are becoming more important. This is reflected in the endogenous growth theory, which regards to human capital and knowledge as driving factors of economic growth in industrialised countries.

In the IAREG project, they analysed the role of these intangible assets on regional economic growth. They have focused on some of them, taking special attention to the more relevant ones, to the assets for which it is possible to have more reliable quantitative statistical information, and finally, to the assets where the consortium has more expertise. Consequently, in this their final report they outline four big factors: knowledge capital, human capital, social capital and entrepreneurship capital. Additionally to the main characteristics of each of these IA (related with their measurement and their effects on regional economic growth), they have also analysed the ensemble effects of these IA over the location of firms.

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