Research background: Importance of intangible resources for country’s economic growth is widely recognized. However, empirical evidence of this influence is hard to show due to measurement limitations of intangible resources. Majority of empirical studies concentrates on the analysis of a specific type of intangible resource’s influence on economic growth. National intellectual capital concept provides background for an integrated assessment of the country's intangible resources. This new approach enables the estimation of intangible resources’ influence to economic growth in a more complex way. Purpose of the article: a) To examine various scientific approaches of the national intellectual capital and its impact on the economic growth; b) to offer a measurement model of the national intellectual capital influence on economic growth; c) to evaluate the specific European Union countries’ intellectual capital’s effect on their economic growth. Methods: Econometric analysis; refined factor value computation method using the stand-ardized regression coefficients; the SAW method; expert evaluation, cluster analysis; corre-lation and regression analyses. Findings & Value added: A review of the economic growth theories showed that structural components of intellectual capital (human capital, structural capital, social capital, relational capital) in economic growth theories are analyzed as key determinants of economic growth. Our proposed research methodology consists time lag between variables and this let us evaluate casual relation. Empirical analysis of 25 European Union countries’ intellectual capital’s effect on their economic growth rate revealed that national intellectual capital and the countries’ level of economic development have statistically significant impact on economic growth rate. The analysis of intellectual capital components’ influence on economic growth rate of 25 European Union countries showed that only human capital and the level of economic development have statistically significant influence. A more comprehensive human capital’s influence on economic growth analysis revealed that 63.1 percent of the long-term economic growth rate in 25 European Union countries can be explained by differences in their economic development level and differences in educational achievement factor values. Moreover, analysis of national intellectual capital effect on economic growth in separate clusters allowed to identify influence differences in each group of countries.

Abstract. National intellectual capital is regarded as an important factor of a country's ability to perform high value added func tions including the ability to create innovations. Measuring national intellectual capital is still a complicated task. In this article national intellectual capital concept and measurement models are analysed in order to show how national intellectual capital could be measured. The findings show that there are several weaknesses of measurement models validity. Those weaknesses in more recent measurement models are minimized by introducing advanced national intellectual capital structural models and more complex value approximation methods. Analysis of selected national intellectual capital measurement models has shown that there are not many similar indicators used (from 21% to 60% of matching indicators), though results obtained by using these evaluation models have high significant correlation.Keywords: national intellectual capital, knowledge capital, national intellectual capital measurement models, intangibles, human capital, structural capital. Santrauka. Valstybės gebėjimas kurti inovacijas ir atlikti aukštos pridėtinės vertės funkcijas priklauso nuo valstybės intelektinio kapitalo. Nustatyti valstybės intelektinio kapitalo vertę -vis dar sudėtinga užduotis. Šiame straipsnyje analizuojama valstybės intelektinio kapitalo koncepcija ir vertinimo metodai, siekiant parodyti būdus, kaip valstybės intelektinis kapitalas gali būti įvertintas. Tyrimo rezultatai atskleidžia taikomų vertinimo modelių validumo trūkumą. Šie trūkumai naujausiuose vertinimo modeliuose minimizuojami taikant sudėtingas valstybės intelektinio kapitalo klasifikacijos sistemas ir pažangius valstybės intelektinio kapitalo vertės apibendrinimo metodus. Pasirinktų valstybės intelektinio kapitalo modelių analizė atskleidė, kad jų vertinimo sistemoje tapačių rodiklių naudojama nedaug (nuo 21 iki 60 proc.), tačiau valstybės intelektinio kapitalo vertė, nustatyta taikant skirtingus vertinimo modelius, yra panaši (rezultatai yra aukšto statistiškai reikšmingo koreliacijos lygio).Reikšminiai žodžiai: valstybės intelektinis kapitalas, žinių kapitalas, valstybės intelektinio kapitalo vertinimo modeliai, nema terialusis turtas, žmogiškasis kapitalas, struktūrinis kapitalas.

Abstract. Innovation is essential for economic growth in developed countries. One of the most important sources of innovation is human capital. In this article, state of human capital in EU countries is investigated in order to show the relationship between human capital and national innovation performance. In the first part, theoretical assumptions of human capital importance for innovation processes are analysed. Secondly, measures of human capital are analysed and a measurement model is presented. This model is applied for investigation of state of human capital in 26 EU countries during 2002-2012. Results showed that quality of human capital is the most important factor for innovation performance. Quality indicators have even higher correlation with innovation in countries with low share of innovative enterprises (enterprises with high-level of new technology acceptance and usage). The aim of research is to analyse the theoretical importance of human capital investment for national innovation capability in EU countries, and to determine human capital aspects that foster innovation performance. Therefore, objectives are as follows: to analyse theoretical assumptions of human capital importance for innovation processes and to present the current state of research; to analyse available human capital measures and create a human capital measurement model; and to analyse state of human capital in EU countries as well as its relationship with national innovation capability.