1. [ 1 ]
Intangibles and Cultural and Creative Industries
Matilde Mas & Javier Quesada
Universidad de Valencia & Ivie
Seminario Internacional
Economía Regional de las Actividades Creativas y los
Servicios Innovadores
Universidad de Alcalá, 25 y 26 de junio, 2015
2. [ 2 ]
INDEX
1. Intangible Assets. An Overview
2. Two projects related to intangibles:
• SPINTAN
• Telefonica Foundation
3. Intangibles and Cultural and Creative Industries.
A tentative approach.
4. Final Remarks
3. [ 3 ]
INDEX
1. Intangible Assets. An Overview
2. Two projects related to intangibles:
• SPINTAN
• Telefónica Foundation
3. Intangibles and Cultural and Creative Industries.
A tentative approach.
4. Final Remarks
4. [ 4 ]
Motivation
Robert Solow (1987) statement about computers could be rephrased as: “While
knowledge economy is all around us, it is still hard to see it in the official statistics”.
Since Solow’s remark, important efforts have been made to capture the knowledge
economy in the (official) statistics.
Milestones:
The new way of Measuring Capital, and thus Productivity, taking into account
the distinction among types of assets (OECD Manuals 2001a, 2001b, 2009)
Relevant projects: EU/LA/WORLD KLEMS; Productivity Database (OECD)
The recognition by SNA of Software, Databases and a few more intangibles
assets, and more recently R&D, in National Accounts.
The distinction between ICT and non-ICT assets and of ICT producing sectors
Corrado, Hulten & Sichel’s (2005, 2009) proposal to expand NA boundaries to
include a selected group of intangible assets
Relevant projects: COINVEST, INNODRIVE, INTAN-Invest, KBC (OECD),
SPINTAN
5. [ 5 ]
Corrado, Hulten & Sichel’s proposal
They cut through the conceptual problem of defining intangible assets
by referring to a standard inter-temporal framework that leads to the
conclusion that “any use of resources that reduces current
consumption in order to increase it in the future […] qualifies as
investment”.
Then, all types of capital should be treated symmetrically, for
example, “investment in knowledge capital should be placed on the
same footing as that of investment in plants and equipment”.
A convenient consequence of the CHS approach and their emphasis
on the symmetric treatment of all assets is that one does not have to
worry too much about defining “intangibles” by way of specific
characteristics. It is more important to reason in terms of capital goods
and to check whether spending activity meets the test of being an
outlay now to enhance future consumption.
6. [ 6 ]
Classification of Intangible assets
Intangible capital asset types
Computerized information
1. Software
2. Databases
Innovative property
3. Mineral exploration
4. R&D (scientific)
5. Entertainment and artistic originals
6. New products/systems in financial services
7. Design and other new products/systems
Economic competencies
8. Brand equity
a. Advertising
b. Market research
9. Firm-specific resources
a. Employer-provided training
b. Organizational structure
7. [ 7 ]
The major challenges in capitalizing intangibles
Intangibles are largely invisible and hard to count:
• Companies often do not have exact metrics to separate
expenditure on intangibles assets from other expenses.
Intangible investments are often produced within the company and
therefore do not represent a market transaction:
• However, an increasingly large share of intangibles are traded
through markets which allow to impute prices for within-company
production and transactions.
Intangibles are often not a direct or continuous input to current
production:
• Greater emphasis on product innovations represents a shift
away from Solow’s to Schumpeterian approach to growth.
Intangibles are largely non-rival and their benefits often not
appropriable:
• While violating marginalist principles at micro-level, the
principles are close enough to the reality of market economy.
8. [ 8 ]
Consequences
The main consequences of including (some) intangibles as
investment, instead of following the NA practice of treating
them as intermediate consumption goods, are:
1. Gross Value Added (GVA) will increase by the same
amount that the (new) intangible investment.
2. Thus, the level of labour productivity will also increase.
3. The real rate of growth of GVA when intangibles are
included can either increase, decrease, or stay (more or
less) constant with respect to the GVA as conventionally
measured.
4. Growth accounting results are modified. The inclusion of
intangibles assets in investment reduces the contribution of
TFP growth.
9. [ 9 ]
INDEX
1. Intangible Assets. An Overview
2. Two projects related to intangibles:
• SPINTAN
• Telefonica Foundation
3. Intangibles and Cultural and Creative Industries.
A tentative approach.
4. Final Remarks
10. [ 10 ]
SPINTAN project (www.spintan.net)
The SPINTAN project is a competitive project funded by the 7th Framework
Programme of the EC.
It will run from December 1st 2013 to December 1st 2016
It aims at extending both the theoretical and the empirical approach -as
carried out by CHS (2005, 2009)- in order to include Public Sector
intangibles.
Four objectives:
1. Building up a Public Sector Intangibles Database for a wide set of EU
countries, supplemented with some big non-EU countries.
2. Analyze the impact of Public Sector intangibles on innovation, well-
being and smart growth (including education, research and innovation
and the creation of a digital society).
3. Analyze the spillover effects of intangibles and their interactions with
other forms of capital (specially ICT).
4. Pay special attention to the consequences of austerity policies in view
of the expected recovery.
11. [ 11 ]
SPINTAN project
Smart Public Intangibles: SPINTAN
Participant organisation name Country
Ivie Instituto Valenciano de Investigaciones Económicas Spain
NIESR National Institute of Economic and Social Research UK
LUISS Lab of European Economics Italy
Istat Istituto Nazionale di Statistica Italy
IC Imperial College Business School UK
TCBE The Conference Board Europe Belgium
OECD Organisation for Economic Cooperation and Development France
ZEW Centre for European Economic Research Germany
DIW Deutsches Institut für Wirschaftsforschung Germany
wiiw Vienna Institute for International Economic Studies Austria
FORES Forum for Reforms, Entrepreneurship and Sustainability Sweden
KOPINT Kopint-Tárki Konjunktúrakutató Intézet Zrt. Hungary
12. [ 12 ]
SPINTAN project
Two Main References:
1. Methodological:
• Carol Corrado, Jonathan Haskel, and Cecilia Jona-Lasinio
(2015): Smart Public Intangibles: SPINTAN Framework and
Measurement Guidelines. Mimeo.
2. On Measurement Issues:
• Fabio Bacchini, Roberto Iannaccone, Massimiliano Iommi and
Cecilia Jona Lasinio (2015): Estimates of Intangible Capital in
the Public Sector: Data Sources and Database Structure.
Mimeo.
13. [ 13 ]
INDEX
1. Intangible Assets. An Overview
2. Two projects related to intangibles:
• SPINTAN
• Telefonica Foundation
3. Intangibles and Cultural and Creative Industries.
A tentative approach.
4. Final Remarks
14. [ 14 ]
Telefónica Foundation project
Matilde Mas, Javier Quesada (Dirs.) (2014): Intangibles en la
Nueva Economía (Ariel & Fundación Telefonica)
Country: Spain
Period: 1995-2011
Private sector of the economy
Sectoral dissagregation: 24 sectors
• Agriculture
• Mining
• Manufacturing (12 sectors)
• Construction
• Private services (9 sectors)
15. [ 15 ]
Telefónica Foundation. Sectoral dissagregation
Industrial classification and correspondence with CNAE 2009/NACE Rev. 2. Ivie’s
estimation
Industries CNAE 2009 / NACE Rev. 2
1 Agriculture, forestry and fishing 01-03
2 Mining and quarrying 5-9
3 Food products, beverages and tobacco 10-12
4 Textiles, wearing apparel, leather and related products 13-15
5 Wood and paper products; printing and reproduction of recorded media 16-18
6 Coke and refined petroleum products 19
7 Chemicals and chemical products 20-21
8 Rubber and plastics products, and other non-metallic mineral products 22-23
9 Basic metals and fabricated metal products 24-25
10 Computer, electrical and optical equipment 26-27
11 Machinery and equipment n.e.c. 28
12 Transport equipment 29-30
13 Other manufacturing 31-33
14 Electricity, gas and water supply 35-39
15 Construction 41-43
16 Wholesale and retail trade; repair of motor vehicles and motorcycles 45-47
17 Transportation 49-53
18 Accommodation and food service activities 55-56
19 Publishing, audiovisual and broadcasting activities 58-60
20 Telecommunications 61
21 IT and other information services 62-63
22 Financial and insurance activities 64-66
23 Professional, scientific, technical, administrative and support service activities 69-82
24 Other service activities 90-96
16. [ 16 ]
Sources
Intangible capital asset types Sources
Computerized information
1. Software
National Accounts (INE), EU KLEMS and BBVA Foundation-Ivie
2. Databases
Innovative property
3. Mineral exploration National Accounts (INE) and BBVA Foundation-Ivie
4. R&D (scientific)
Statistics about R&D activities (INE) and Technological Innovation Panel
(PITEC) (FECYT)
5. Entertainment and artistic originals National Accounts (INE) and BBVA Foundation-Ivie
6. New products/systems in financial services
Statistics about R&D activities (INE), EU KLEMS, Labour Force Survey
(INE) and Structure of Earnings Survey (INE)
7. Design and other new products/systems
SBS-Services (INE), National Accounts (INE), EU KLEMS, IO and SUT
(NA, INE)
Economic competencies
8. Brand equity
a. Advertising
National Accounts (INE), EU KLEMS, SBS-Services (INE), Infoadex,
Nieto-Tamargo (1990), Pérez Ruiz (1995), WIOD and IO and SUT (NA,
INE)
b. Market research
National Accounts (INE), EU KLEMS, SBS-Services (INE), AEDEMO,
WIOD and IO and SUT (NA, INE)
9. Firm-specific resources
a. Employer-provided training
Continuing Vocational Training Survey (CVTS) (Eurostat), National
Accounts (INE), Labour Costs Survey (INE), Annual Labour Costs
Survey (INE), Adult Education Survey (INE)
b. Organizational structure
National Accounts (INE), EU KLEMS, SBS-Services (INE), FEACO
Survey, WIOD, IO and SUT (NA, INE), Labour Force Survey (INE) and
Structure of Earnings Survey (INE), European Union Household Panel
(EUHP) (INE)
17. [ 17 ]
España: evolución de la inversión en intangibles
El ritmo de la inversión en intangibles ha sido superior respecto a la
inversión en activos tangibles no residenciales.
La inversión en intangibles tiene una mayor capacidad de resistencia a los
períodos de crisis. La inversión en intangibles y la hipótesis del
estancamiento secular.
Su incorporación a la contabilidad nacional supone un incremento del 5-
6% del VAB convencional.
Inversión intangible y tangible no residencial.
Sector privado. España. 1995-2011
(1995=100)
Fuente: Fundación Telefónica, Fundación BBVA-Ivie y elaboración propia.
100
120
140
160
180
200
220
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Inversión intangible
Inversión tangible (no residencial)
400
450
500
550
600
650
700
750
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
VAB ampliado VAB convencional
VAB convencional y ampliado.
Sector privado. España. 1995-2011
(Miles de millones de euros constantes de 2005)
Fuente: INE, EU KLEMS, Fundación Telefónica y elaboración propia.
18. [ 18 ]
España: inversión en intangibles vs. tangibles
El peso de la inversión en intangibles se ha incrementado en los
últimos 16 años, y supone ya el 35% de la inversión total:
1995: inversión intangible (27%) vs. tangible (73%)
2011: inversión intangible (35%) vs. tangible (65%)
Pese a ello, la inversión tangible casi duplica a la intangible:
Inversión tangible/VAB ampliado: 13,4%
Inversión intangible/VAB ampliado: 7,1%
Peso sobre la inversión total no residencial.
Sector privado. España. 1995-2011
(Porcentajes)
Fuente: Fundación Telefónica, Fundación BBVA-Ivie y elaboración propia.
Peso sobre el VAB ampliado.
Sector privado. España. 1995-2011
(Porcentajes)
0
10
20
30
40
50
60
70
80
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Inversión intangible
Inversión tangible (no residencial)
0
2
4
6
8
10
12
14
16
18
20
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Inversión intangible
Inversión tangible (no residencial)
Fuente: INE, EU KLEMS, Fundación Telefónica, Fundación BBVA-Ivie y elaboración
propia.
19. [ 19 ]
España: comparación internacional
La importancia de los intangibles en la inversión en España (29%) es
inferior a la media de la UE-15 (42%) y muy lejana a la de EE.UU. (67%).
El esfuerzo inversor de España en activos tangibles no residenciales
(16% del VAB) más que duplica al de EE.UU. (7%).
Por el contrario, el esfuerzo es muy inferior en intangible: 6,5% en España
vs. 14,2% en EE.UU.
Peso de la inversión intangible en la inversión total no
residencial. Sector privado. España. Promedio 1995-2010
(Porcentajes)
¹ Países nórdicos: Suecia, Finlandia y Dinamarca.
Fuente: INTAN-Invest, Fundación Telefónica, Fundación BBVA-Ivie
y elaboración propia.
Participación de la inversión tangible e intangible en
el VAB ampliado. Sector privado. Promedio 1995-2010
(Porcentajes)
29,1
41,9
45,8
67,0
48,7
42,4
27,9
55,6
0
10
20
30
40
50
60
70
España UE-15 Países
nórdicos¹
EE. UU. Francia Alemania Italia Reino
Unido
¹ Países nórdicos: Suecia, Finlandia y Dinamarca.
Fuente: INTAN-Invest, Fundación BBVA-Ivie, Fundación Telefónica, INE y
elaboración propia.
15,9
13,6
14,4
7,1
12,2
12,9
17,2
10,3
6,5
9,8
12,1
14,2
11,6
9,5
6,7
12,6
0
2
4
6
8
10
12
14
16
18
20
España UE-15 Países
nórdicos¹
EE. UU. Francia Alemania Italia Reino
Unido
Inversión tangible Inversión intangible
20. [ 20 ]
Componentes de la inversión en intangibles
Las competencias económicas son el componente más importante de la
inversión intangible en España (47%), seguido de la propiedad
innovadora (31%) y la información digitalizada (22%).
Las diferencias con la media de la UE-15 se deben a un menor esfuerzo
inversor en propiedad de la innovación y en competencias económicas.
Composición de la inversión intangible. Sector privado.
España. 1995-2011
(Porcentajes)
Fuente: Fundación Telefónica y elaboración propia.
Composición de la inversión en activos intangibles. 2011¹
(Porcentajes del VAB privado ampliado)
¹ Los datos internacionales se refieren a 2010.
² Países nórdicos: Suecia, Finlandia y Dinamarca.
Fuente: INTAN-Invest, Fundación Telefónica y elaboración propia
0
10
20
30
40
50
60
70
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Información digitalizada
Propiedad innovadora
Competencias económicas
1,5 1,8
3,1 2,3 2,6
1,1 1,0
2,6
2,2
3,6
5,2
5,7 4,6
4,3
2,4
3,4
3,3
5,1
4,9
7,3
6,3
4,5
3,5
6,9
0
2
4
6
8
10
12
14
16
España UE-15 Países
nórdicos²
EE. UU. Francia Alemania Italia Reino
Unido
Información digitalizada
Propiedad de la innovación
Competencias económicas
21. [ 21 ]
Inversión en propiedad innovadora
La actividad diseñadora (50%), junto a la I+D (35,6%), son los
componentes más relevantes de la inversión en propiedad innovadora.
En comparación con otras regiones, el peso de la I+D en la propiedad
innovadora es inferior: Alemania (63%), EE.UU. (52%) y UE-15 (50%).
Composición de la inversión en Propiedad innovadora.
Sector privado. España. 1995-2011
(Porcentajes sobre la inversión intangible total)
Fuente: Fundación Telefónica y elaboración propia.
Composición de la inversión en propiedad innovadora. 2011¹
(Porcentajes)
¹ Los datos internacionales se refieren a 2010.
² Países nórdicos: Suecia, Finlandia y Dinamarca.
Fuente: INTAN-Invest, Fundación Telefónica y elaboración propia.
0
2
4
6
8
10
12
14
16
18
20
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
I+D
Prospec. minera y originales de obras recreat., lit. o artísticas
Nuevos productos/sistemas en los servicios financieros
Diseño y otros nuevos productos
35,6
50,4
62,8
52,4
45,9
62,7
40,2 39,1
11,2
7,9
3,8 24,6
7,4
7,0
6,8 12,6
2,7
4,5
2,4
5,3
4,7
2,8
5,0
6,8
50,5
37,1
31,1
17,6
42,0
27,5
48,0
41,5
0
20
40
60
80
100
España UE-15 Países
nórdicos²
EE. UU. Francia Alemania Italia Reino
Unido
Diseño y otros nuevos productos
Nuevos productos/sistemas en los servicios financieros
Prospecc. minera y originales de obras recreativas, literarias o artísticas
I+D
22. [ 22 ]
Inversión en competencias económicas
La inversión en estructura organizativa (consultoría y gestión de la
organización) y en publicidad son los componentes más relevantes de las
competencias económicas (70% entre ambos).
Respecto a otros países el peso de la inversión en publicidad en España
es relativamente superior, mientras que la inversión en estructura
organizativa es inferior.
Composición de la inversión en Competencias económicas.
Sector privado. España. 1995-2011
(Porcentaje sobre la inversión intangible total)
Composición de la inversión en Competencias
económicas. 2011¹
(Porcentajes)
0
5
10
15
20
25
30
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Publicidad Estudios de mercado
Capital humano de empresa Estructura organizativa
Fuente: Fundación Telefónica y elaboración propia.
¹ Los datos internacionales se refieren a 2010.
² Países nórdicos: Suecia, Finlandia y Dinamarca.
Fuente: INTAN-Invest, Fundación Telefónica y elaboración propia.
32,8
15,3 16,9
22,9
11,5
16,6 15,2
10,6
7,6
8,5 5,1
4,4
7,4
5,4
16,1
5,7
22,8
25,2 28,6
24,5
26,3
32,5
25,1
22,8
36,8
51,0 49,4 48,1
54,8
45,5 43,6
60,9
0
20
40
60
80
100
España UE-15 Países
nórdicos²
EE. UU. Francia Alemania Italia Reino
Unido
Publicidad Estudios de mercado
Capital humano de empresa Estructura organizativa
23. [ 23 ]
Inversión en intangibles por grandes sectores
La inversión en intangibles cada vez tiene una mayor peso en los servicios de
mercado (comercio, ingenierías, financiero, investigación, consultorías…) en
detrimento de la industria:
1995: Servicios (60%) vs. Industria (34%)
2011: Servicios (67%) vs. Industria (28%)
Esta fuerte concentración en los servicios se asemeja a la estructura en
Francia y Reino Unido, pero no a Alemania (sesgo industrial) y a los Países
nórdicos (modelo mixto).
Distribución de la inversión en intangibles por grandes
sectores de actividad. Sector privado. España. 1995-2011
(Porcentajes)
Distribución de la inversión en activos intangibles. 2011¹
(Porcentajes)
0
10
20
30
40
50
60
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Industria Construcción
Comercio Otros servicios
Fuente: Fundación Telefónica y elaboración propia.
27,7
39,2
27,4
54,4
39,1
15,5
4,9
4,7
4,5
1,4
3,3
3,3
14,6
10,6
10,6
6,9
14,3
13,5
52,3
45,2
57,0
37,1
43,1
67,5
0
20
40
60
80
100
España Países
nórdicos²
Francia Alemania Italia Reino Unido
Agricultura Industria Construcción Comercio Otros servicios
¹ Los datos internacionales se refieren a 2010.
² Países nórdicos: Suecia, Finlandia y Dinamarca.
Fuente: INTAN-Invest, Fundación Telefónica y elaboración propia.
24. [ 24 ]
España: esfuerzo inversor en intangibles por sectores
Sectores con un esfuerzo inversor superior a la media:
INDUSTRIAS: coquerías, química, material de transporte…
SERVICIOS: actividades creativas (audiovisual, edición, diseño…), profesionales y financieras…
TIC y telecomunicaciones
Sectores con un esfuerzo inversor inferior a la media:
AGRICULTURA, HOSTELERÍA Y CONSTRUCCIÓN
Esfuerzo inversor en activos intangibles por sectores de actividad.
Sector privado. España. 2011.
(Porcentajes: Inversión intangible/VAB ampliado de cada sector)
Fuente: Fundación Telefónica, Fundación BBVA-Ivie y elaboración propia.
0
5
10
15
20
Coquerías
Edición,audiovisualesyradio
Fab.Materialdetransporte
Telecomunicaciones
Industriaquímica
Actividadesprofesionales
Activ.financierasyseguros
Otrosservicios
Equipoeléctrico,electrónicoy
óptico
Tecnologíasdelainformación
Energíaeléctrica,gasyagua
Alimentación,bebidasytabaco
Fabricacióndemaquinariay
equipo
Mediadelsectorprivado
Comercioyreparación
Textil,confección,cueroycalzado
Industriasextractivas
Cauchoyplásticos
Transporteyalmacenamiento
Madera,corcho,papelyartesgráf.
Industriasmanufacturerasdiversas
Metalurgiayproductosmetálicos
Construcción
Hostelería
Agricultura,ganaderíaypesca
25. [ 25 ]
INDEX
1. Intangible Assets. An Overview
2. Two projects related to intangibles:
• SPINTAN
• Telefonica Foundation
3. Intangibles and Cultural and Creative Industries.
A tentative approach.
4. Final Remarks
26. [ 26 ]
Intangibles and Cultural and Creative (CC) Industries
Lets run a parallel analysis between:
• CC Intangible Capital and CC Industries, and
• ICT capital and ICT producing industries
ICT capital is the result of the accumulation of past investment
expenditures on ICT assets. Thus, ICT capital must be considered as
any other form of (tangible) capital.
ICT assets: hardware, software and communication
ICT industries are the ones producing ICT goods and services.
• Computer, electrical and optical equipment
• Telecommunications
27. [ 27 ]
GFCF: ICT / NON-ICT ASSETS AND ICT PRODUCING INDUSTRIES
ICT NON-ICT
TOTAL Software Harware Communication Constructions Transport Others
1 Agriculture, forestry and fishing
2 Mining and quarrying
3 Food products, beverages and tobacco
4 Textiles, wearing apparel, leather and related products
5 Wood and paper products; printing and reproduction of recorded media
6 Coke and refined petroleum products
7 Chemicals and chemical products
8 Rubber and plastics products, and other non-metallic mineral products
9 Basic metals and fabricated metal products
10 Computer, electrical and optical equipment
11 Machinery and equipment n.e.c.
12 Transport equipment
13 Other manufacturing
14 Electricity, gas and water supply
15 Construction
16 Wholesale and retail trade; repair of motor vehicles and motorcycles
17 Transportation
18 Accommodation and food service activities
19 Publishing, audiovisual and broadcasting activities
20 Telecommunications
21 IT and other information services
22 Financial and insurance activities
23
Professional, scientific, technical, administrative and support service
activities
24 Other service activities
Industries
28. [ 28 ]
Intangibles and CC Industries
Lets take a closer look at the classification of CC intangible assets and industries
having in mind the ICT case.
We want to look at CC activities with a twofold perspective: i) they are carried out
in particular CC industries and ii) they give way to specific CC intangible assets.
It is just a tentative approach since -contrary to the ICT case- as far as we know
there is not a broadly accepted definition of CC industries, nor of the related CC
assets.
From the industry perspective there are at least 4 alternative proposals:
• ESSnet- Culture
• European Cluster- Observatory
• UK DCMS
• UNESCO
We will take them as references for our proposal. However, our best choice
implies a four digit level of industry disaggregation which is not available.
29. [ 29 ]
Classification of Intangible assets
Intangible capital asset types
Computerized information
1. Software
2. Databases
Innovative property
3. Mineral exploration
4. R&D (scientific)
5. Entertainment and artistic originals
6. New products/systems in financial services
7. Design and other new products/systems
Economic competencies
8. Brand equity
a. Advertising
b. Market research
9. Firm-specific resources
a. Employer-provided training
b. Organizational structure
Narrow definition of CC
assets: items highlighted
in blue.
Wide definition of CC
assets: narrow definition
plus additional items
highlighted in yellow.
30. [ 30 ]
Telefónica Foundation. Sectoral dissagregation
Industrial classification and correspondence with CNAE 2009/NACE Rev. 2.
CNAE 2009/NACE Rev. 2
1 Agriculture, forestry and fishing 01-03
2 Mining and quarrying 5-9
3 Food products, beverages and tobacco 10-12
4 Textiles, wearing apparel, leather and related products 13-15
5 Wood and paper products; printing and reproduction of recorded media 16-18
6 Coke and refined petroleum products 19
7 Chemicals and chemical products 20-21
8 Rubber and plastics products, and other non-metallic mineral products 22-23
9 Basic metals and fabricated metal products 24-25
10 Computer, electrical and optical equipment 26-27
11 Machinery and equipment n.e.c. 28
12 Transport equipment 29-30
13 Other manufacturing 31-33
14 Electricity, gas and water supply 35-39
15 Construction 41-43
16 Wholesale and retail trade; repair of motor vehicles and motorcycles 45-47
17 Transportation 49-53
18 Accommodation and food service activities 55-56
19 Publishing, audiovisual and broadcasting activities 58-60
20 Telecommunications 61
21 IT and other information services 62-63
22 Financial and insurance activities 64-66
23 Professional, scientific, technical, administrative and support service activities 69-82
24 Other service activities 90-96
Industries
31. [ 31 ]
Classification of CC industries at two digit level
Industries highlighted in yellow color include at least one CC industry at four digit level. For
instance:
10. Computer, electrical and optical equipment includes (according only to the
European Cluster Observatory):
2680. Manufacture of magnetic and optical media
19. Publishing, audiovisual and broadcasting activities includes (according to at least
three of the four classifications: ESSnet-Culture, European Cluster Observatory, UK
DCMS, UNESCO) the following subindustries:
5811. Book Publishing
5813. Publishing of newspapers
5814. Publishing of journals and periodicals
5819. Other publishers
5821. Publishing of computer games
5829. Other software publishers
5911. Motion pictures, video and tv programme production activities
5912. Motion pictures, video and tv programme post-production activities
5913. Motion pictures, video and tv programme distribution activities
5914. Motion pictures projection activities
5920. Sound recording and music publishing activities
6010. Radio Broadcasting
6020. Television programming and broadcasting activities
32. [ 32 ]
GFCF: INTANGIBLE CC /NON-CC ASSETS AND CC
PRODUCING SECTORS
CC NON-CC
TOTAL
Computerized
Information
Entertainment
& artistics
originals
Design Advertising
Market
Research
R&D
Organizational
Structure
Others
1 Agriculture, forestry and fishing
2 Mining and quarrying
3 Food products, beverages and tobacco
4 Textiles, wearing apparel, leather and related products
5
Wood and paper products; printing and reproduction of recorded
media
6 Coke and refined petroleum products
7 Chemicals and chemical products
8
Rubber and plastics products, and other non-metallic mineral
products
9 Basic metals and fabricated metal products
10 Computer, electrical and optical equipment
11 Machinery and equipment n.e.c.
12 Transport equipment
13 Other manufacturing
14 Electricity, gas and water supply
15 Construction
16 Wholesale and retail trade; repair of motor vehicles and motorcycles
17 Transportation
18 Accommodation and food service activities
19 Publishing, audiovisual and broadcasting activities
20 Telecommunications
21 IT and other information services
22 Financial and insurance activities
23
Professional, scientific, technical, administrative and support service
activities
24 Other service activities
Industries
33. [ 33 ]
Two 2 digit sectors (Professional Services, and Trade & Repair) comprising
some of the CC industries concentrate the highest weight of Spanish intangible
investment
Sectoral dissagregation of intangible investment. Private sector, 1995 & 2011
Percentage
Source: Author’s calculations.
0 2 4 6 8 10 12 14 16 18 20 22
Agriculture, forestry and fishing
Mining and quarrying
Electricity, gas and water supply
Food products, beverages and tobacco
Textiles, wearing apparel, leather and related products
Wood and paper products; printing and reproduction of recorded media
Coke and refined petroleum products
Chemicals and chemical products
Rubber and plastics products, and other non-metallic mineral products
Basic metals and fabricated metal products
Computer, electrical and optical equipment
Machinery and equipment n.e.c.
Transport equipment
Other manufacturing
Construction
Wholesale and retail trade; repair of motor vehicles and motorcycles
Transportation
Accommodation and food service activities
Publishing, audiovisual and broadcasting activities
Telecommunications
IT and other information services
Financial and insurance activities
Professional, scientific, technical, administrative and support service activities
Other service activities
1995 2011
34. [ 34 ]
Participation of intangible investment in non-residential total investment of each
industry. Private sector, 1995 & 2011
Percentage. Total = 100
S A th ’ l l ti
Publishing, audiovisual and broadcasting, Professional Services and IT and other
information services have the highest weight of intangible on total non-residential
investment (around 60%)
0 20 40 60 80 100 120
AGRICULTURE, FORESTRY AND FISHING
ENERGY
Mining and quarrying
Electricity, gas and water supply
MANUFACTURING
Food products, beverages and tobacco
Textiles, wearing apparel, leather and related products
Wood and paper products; printing and reproduction of recorded media
Coke and refined petroleum products
Chemicals and chemical products
Rubber and plastics products, and other non-metallic mineral products
Basic metals and fabricated metal products
Computer, electrical and optical equipment
Machinery and equipment n.e.c.
Transport equipment
Other manufacturing
CONSTRUCTION
SERVICES
Wholesale and retail trade; repair of motor vehicles and motorcycles
Transportation
Accommodation and food service activities
Publishing, audiovisual and broadcasting activities
Telecommunications
IT and other information services
Financial and insurance activities
Professional, scientific, technical, administrative and support service…
Other service activities
TOTAL PRIVATE SECTOR
1995 2011
35. [ 35 ]
Share of creative and cultural investment in total non-residential investment,
selected CC industries. Spain. Private sector, 2011
Percentage
Source: Author’s calculations.
The distribution of CC investment among CC industries is very uneven
both in total and in composition
0
10
20
30
40
50
60
70
Wood and
paper products;
printing and
reproduction of
recorded media
Other
manufacturing
Wholesale and
retail trade;
repair of motor
vehicles and
motorcycles
Publishing,
audiovisual and
broadcasting
activities
IT and other
information
services
Professional,
scientific,
technical,
administrative
and support
service activities
Other service
activities
Computerized information Entertainment and artistic originals and mineral exploration
Design and other new products/systems Advertisement
Market research
36. [ 36 ]
Final Remarks
• Nowadays there is a strong movement for widening the sources of growth
perspective.
• Intangibles assets are taking the lead. R&D has always been identified as an
important source of growth, but more relevant aspects –such as
improvements in the fuctioning of firms- are being included.
• One of the advantages of the CHS approach is that it stays within the NA
bounderies, so intangibles can fit smoothly into the KLEMS framework.
• However, the characteristics of the new intangible assets facilitate moving
away from the neoclassical mainstream model into a more Shumpeterian
perspective.
• There are already estimates of intangible capital for the EU countries, and the
US, thanks to the INTAN-Invest Iniciative.
• Next step is to broaden the scope including sectoral disaggregation. The work
done in Spain funded by Fundación Telefonica goes in this direction. It
considers 24 sectors (the same sectoral disaggregation as EU KLEMS).
• The SPINTAN project, funded by the 7th Framework Program starting
December 2013 will contribute to increase our understanding of the role
played by intangibles by expanding the actual framework to Public Sector
Intangibles.
37. [ 37 ]
Final Remarks
Concerning Cultural and Creative Activities
• We could think in CC as industries only. Alternatively, we could think
as, both, industries producing CC goods and services and as assets.
• In the second case, the investment made by all economic sectors in
CC assets (Entertainment & Artistic orginals, Design and Advertising)
could be capitalized as intangible capital and, thus, receive the same
treatment than other forms of (tangible) capital.
• In order to implement this approach it is needed:
1. A clear definition of CC industries
2. Most probably: a 4-digit sector level of disaggregation
3. The expenditure made in each asset with this level of disaggregation
4. A capitalization factor (how much of the expenditure made in each of the
three assets can be considered investment instead of intermediate
consumption?)
5. A deflator for each asset, as well as
6. An average service life for each of them
7. HARD WORK & GOOD LUCK
38. [ 38 ]
Intangibles and Cultural and Creative Industries
Matilde Mas & Javier Quesada
Universidad de Valencia & Ivie
Seminario Internacional
Economía Regional de las Actividades Creativas y los
Servicios Innovadores
Universidad de Alcalá, 25 y 26 de junio, 2015