ECONOMIC DEVELOPMENT AND INTELLECTUAL CAPITAL: AN INTERNATIONAL STUDY

In this paper we study relationships between economic development and the national level of intellectual capital. To measure the intellectual capital of nations we have used a model adapted to microeconomic level that takes into account aspects not contemplated by GDP. It considers intangible assets such as human development, economic structure, international trade, foreign image and innovation. This model is applied to 82 countries grouped in three clusters according to their efficiency in intellectual capital. The empirical results show the importance of structural capital in nation's wealth, while human capital does not contribute significantly to economic development.