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Introduction

  • Carol Yeh-Yun Lin
  • Leif Edvinsson
  • Jeffrey Chen
  • Tord Beding
Chapter
Part of the SpringerBriefs in Economics book series (BRIEFSECONOMICS, volume 18)

Abstract

In the first decade of the new millennium, the biggest event that caught worldwide attention was the 2008 global financial crisis, which was brought about primarily by ineffective governance, failed surveillance systems, and implementation flaws. These problems are mainly intangible in nature. Therefore, examining the financial crisis from the viewpoint of intangible asset provides a different perspective from traditional economic approaches.

National intellectual capital (NIC), mainly consisting of human capital, market capital, process capital, renewal capital, and financial capital, is a valuable intangible asset and a key source of national competitive advantage in today’s knowledge economy. This booklet looks into the connections between the 2008 global financial crisis and NIC development with a special focus on the BRICKS—Brazil, Russia, India, China, Korea, and South Africa.

In addition to the summaries of financial crisis impact, the aftermath, future prospects, and challenges of each individual country, NIC analysis based on data covering 2005–2010 for 48 countries reveals that the higher the NIC, the higher the GDP per capita (ppp). Graphical presentations of various types allow for intra-country and intercountry comparisons to position the reported four countries on a world map of NIC-GDP codevelopment.

By looking into tangible economic development along with the intangible NIC development, this booklet provides valuable implications for policy makers.

Keywords

Foreign Direct Investment Financial Crisis International Monetary Fund Euro Area Global Financial Crisis 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© The Author(s) 2013

Authors and Affiliations

  • Carol Yeh-Yun Lin
    • 1
  • Leif Edvinsson
    • 2
  • Jeffrey Chen
    • 3
  • Tord Beding
    • 4
  1. 1.Department of Business AdministrationNational Chengchi UniversityTaipeiChina
  2. 2.Universal Networking Intellectual CapitalNorrtäljeSweden
  3. 3.AccentureChicagoUSA
  4. 4.TC-Growth ABGothenburgSweden

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