Intangible Capital: A Country and Industry-level Comparison 2000–2021

Abstract

Intangible and tangible investments, and the capital stock accumulated over time, play a key role—alongside the labour input and the economic operating environment shaped by factors such as legislation—in creating a nation’s value added, and thus its incomes and purchasing power. This working paper examines macroeconomic statistics related to investments and productivity for Finland and seven other countries between 2000 and 2021, both for the whole economy and for individual industries. Intangible investments, in particular, face measurement challenges that complicate cross-country comparisons. On average, within non-agricultural market economy, Finland’s investment rate is moderate or among the leaders in intangible investments, but lagging behind in tangible investments. However, there is significant variation across different industries and investment assets.

Publication info

Results of research
Intangible capital as a source of renewal and growth in Finland: Guidelines for future policy actions
Research group
Business renewal
Series
ETLA Working Papers 149
Date
12.10.2026
Keywords
Intangible investment, Tangible investment, Capital stock, Productivity
ISSN
2323-2420, 2323-2439 (Pdf)
JEL
E22, E24, J24, O57
Pages
78
Language
Finnish