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Title Intangible assets in Bulgaria, 1991-2006
Author Lubomir Dimitrov, Todor Gradev, Spartak Keremidchiev
Year 2009
Abstract Following the Corrado, Hulten and Sickel (2006) paper, we address intangible investments in Bulgaria and the factors involved in their contributions at the level of the firm, industry, and the economy as a whole.
The study encompasses the Bulgarian economy in the period 1990 – 2006, and makes use of micro-level data aggregated to sector level, taking account of imports and exports. We consider the following types of investment into intangibles: computer software and computerized databases, innovative property, scientific R&D, copyright and license costs, new architectural and engineering design, brand equity and economic competences, market research and advertising as brand building, firm-specific human capital and organizational structure.
According to this nomenclature, we compute the share of these intangible assets in the national income (GDP) and make estimates of the potential adjustment of the GDP if these investments were to be taken into account. The study unfolds on the background of the profound changes
taking place in the Bulgarian economy over the 1990s, including a critical mass of privatisation, fragmentation of industries, financial shocks and a massive entry of new firms and foreign
investment. JEL classification: O3, O52, P2. Keywords: innovation, intangible assets, research and
development. Lubomir Dimitrov, Club Economika 2000 and Agency for Economic Forecasting and Analyses, Sofia
*Todor Gradev, Club Economika 2000 and University College Dublin
Spartak Keremidchiev, Club Economika 2000 and Institute of Economics, Bulgarian Academy of Sciences, Sofia
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Topic revision: r3 - 26 Jan 2011, JonathanHaskel
 

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