Does national intellectual capital matter for economic growth in the Asia–Pacific economies?

Abstract

PurposeCountries worldwide aim to improve their comparative advantages by efficiently using scarce resources for economic growth and development. While many studies have been conducted to measure intellectual capital at the firm's level, measuring it at the national level has been under-examined. In addition, while the important role of national intellectual capital in economic growth has been theoretically recognized in literature, this important link has largely been ignored in empirical analyses.Design/methodology/approachThis study uses the newly developed index of national intellectual capital from Vo and Tran's (2022) study to examine its effects on national economic growth in the long run. The dynamic common correlated effects technique and the pooled mean group estimation are used on the sample of 23 economies in the Asia–Pacific region from 2000 to 2020.FindingsFindings from this study confirm the positive and significant contribution of the national intellectual capital to economic growth in the region. The authors also find that, as a feedback effect, economic growth will also enhance and improve the accumulation of national intellectual capital.Practical implicationsThe findings of this paper provide valuable evidence and implications for policymakers in managing and improving national intellectual capital in the Asia–Pacific region.Originality/valueTo the best of the authors’ knowledge, this is the first empirical study to examine the impact of national intellectual capital on economic growth in the long run in the Asia–Pacific economies.