본문 바로가기 주메뉴 바로가기
국회도서관 홈으로 정보검색 소장정보 검색

결과 내 검색

동의어 포함

목차보기

Title page 1

Contents 1

Stylized trend 1: Intangible investment continues to outpace tangible investment, growing more than three times faster since 2008 2

Stylized trend 2: Intangible investment proved more resilient than tangible investment, growing 5.5 percent a year despite tighter financing conditions 5

Stylized trend 3: Intangible investment's share of GDP has risen across all economies since 1995, and exceeds the tangible share at the aggregate level 6

Stylized trend 4: The US leads in intangible investment, followed by Japan and Germany 8

Stylized trend 5: India, Japan and the Philippines lead recent intangible investment growth among the 15 largest economies 10

Stylized trend 6: Software and databases, organizational capital and brands are the fastest growing intangible asset types 12

Stylized trend 7: Organizational capital and R&D: the twin pillars of intangible investment, making up more than half of intangible investment in 2023 16

Stylized trend 8: Brands constitute a more-than-trillion-dollar investment category 19

Annex 23

Acknowledgments 24

References 25

Figures 2

Figure 1. Intangible investment continues to outpace tangible investment 2

Figure 2. Widening gap between intangible and tangible investment in Canada, Germany and Japan 3

Figure 3. Intangible investment outpacing tangible investment in France, the UK and the US 4

Figure 4. Intangible investment on the rise in middle-income economies, even outpacing tangible investment in Brazil 4

Figure 5. Intangible investment has remained less cyclical compared to tangible investment 6

Figure 6. Intangible investment's share of GDP has risen across all economies 7

Figure 7. Intangible and tangible investment as a share of GDP, %, 2025 or latest year available 8

Figure 8. The US leads in intangible investment, followed by Japan and Germany 9

Figure 9. Japan ahead of Germany and France in absolute levels 9

Figure 10. Brazil among the top seven economies by size of intangible investment 10

Figure 11. India shows fastest recent growth in intangible investment, followed by Japan, the Philippines and the US 10

Figure 12a. Economies where intangibles have grown faster than tangibles 11

Figure 12b. Economies where tangibles have grown faster than intangibles 12

Figure 13. Software and databases remain the fastest-growing intangible asset category 12

Figure 14. Around 62 percent of intangible investment not captured in official statistics 16

Figure 15. Organizational capital has the largest share of intangible investment, followed by R&D, and software and databases 17

Figure 16a. Analysis of asset types reveals varying investment patterns across advanced economies 18

Figure 16b. Analysis of asset types reveals varying investment patterns across middle income economies 18

Figure 17. Absolute levels of brand investment by country 20

Figure 18. Small advanced economies show fastest growth in brand investment, followed by India 21

Boxes 2

Box 1. Investment in intangible assets - a primer 2

Box 2. AI is reviving tangible investment - but narrowly, and mostly in the US 5

Box 3. The AI-investment nexus: a 2026 update 14

Box 4. Surge in R&D and software and database investment in the Philippines 15

Box 5. Why brands matter more than ever 19

Box 6. The global value of brands: innovation, catch-up and brand building 21

Annex Figures 23

Figure A.1. Intangible assets under the Corrado, Hulten and Sichel framework 23

Box Tables 14

Box Table 3.1. How AI drives intangible investment and vice versa 14

Box Figures 15

Box Figure 4.1. R&D, software and databases fastest-growing categories in the Philippines 15

Box Figure 6.1. Advertising intensity correlated with GDP per capita 22