The impact of national intangible capital components on socio-economic factors during economic recession

Abstract

Intangible capital is an important and recently much discussed in scientific literature. Even though the concept of intangible capital is not strictly set yet and vague enough, many authors agree that the source of intangible capital is based on education, health, R&D. The creation of value in modern society is produced by human skills, health, knowledge, intellectual capabilities, enrolment in social units, networks, expressed social trust, etc. All these components are changing the economic structure influencing sustainable development of countries. However, the research suggests that intangible capital components hardly can resist the economic downturn.