For several decades now advanced economies across the globe have been undergoing a process of
rapid transformation towards becoming knowledge economies. It is now widely recognized that
intangible capital has been a crucial element in the growth performance of these economies and
their firms. The term serves as a useful device for capturing those dimensions of capital that
are not tangible in nature but are nevertheless fundamentally important for growth. It
encompasses investments in education (human capital) and in informal (social capital) and
formal (rule of law) institutions by the public sector and households as well as investments
by businesses aimed at enhancing their knowledge base such as software innovative property
and economic competencies. Intangible Capital and Growth is the first of two open-access
volumes presenting a selection of the author's essays on Labor Productivity Monetary Economics
and Political Economy. This first volume brings togethereight of the author's essays selected
with the aim of providing an overview of his research to date on intangible capital and growth.
