Announcement of interim report by the Information Economy Committee of the Industrial Structure Council
The Information Economy Committee of the Industrial Structure Council (chaired by Mr. Jun Murai, Professor, Fuculty of Environment and Information Studies, Keio University) compiled and released action plans on six priority areas and five cross-sectional policy challenges aiming at the creation of new industries linked to information technologies.
http://www.meti.go.jp/english/press/2011/0811_01.html
Announcement of interim report by the Information Economy Committee of the Industrial Structure Council
The Information Economy Committee of the Industrial Structure Council (chaired by Mr. Jun Murai, Professor, Fuculty of Environment and Information Studies, Keio University) compiled and released action plans on six priority areas and five cross-sectional policy challenges aiming at the creation of new industries linked to information technologies.
http://www.meti.go.jp/english/press/2011/0811_01.html
A Methodolgy for Disentangling Public Funded R&D (GBARD) by IndustriesSPINTAN
A Methodolgy for Disentangling Public Funded R&D (GBARD) by Industries. Thessaloniki, SEM Conference. 2016. Matilde Mas, Eva Benages and Juan Fernández de Guevara
Modeling market and nonmarket Intangible investments in a macro-econometric f...SPINTAN
Modeling market and nonmarket Intangible investments in a macro-econometric framework. Sociedty for Economic Measurement Annual Conference. Thessaloniki July 2016
Sources of country-sector productivity growth: total factor productivity and ...SPINTAN
Sources of country-sector productivity growth: total factor productivity and intangible capital in the EU15 and the US. Society for Economic Measurement Annual Conference. July 2016. Thessaloniki
Tecnocampus is a triple helix model who combines knowledge and business . It is a reference in Catalonia due to the success of the companies located, its acceleration programs, the incubator and the entrepreneurial university model.
Digital Cities Conference 2007 - The Social and Economic Impact of a Metropol...Nirvesh Sooful
The 3rd Annual BMI-T Digital Cities Forum is a two day event held on the 4th and 5th of October 2007 .
The City of Cape Town is in the process of installing its own broadband telecommunications network. It is envisaged that not only will this network result in considerable cost savings for the City itself, but also has the potential to bring about significant social and economic benefits to the city at large. The objective of this presentation is to identify, explore and, where possible, quantify the potential economic and social benefits that would be generated as a result of the proposed broadband network.
Innovative and digital solutions for circularity and sustainability in textilesCISUFLO
CISUFLO project was presented during the “Workshop on Innovative and digital solutions for circularity and sustainability in textiles” organized by the European Commission DG Growth, last 15th October.
Dr. Jan Vincent Jordan, on behalf of RWTH Aachen, introduced CISUFLO as potential best practices on how digitalisation supports sustainability and on how SMEs can be supported in digitalization (with a focus on RWTH Aachen “Systemic Transition Support Tool”). During the workshop the DG CNECT presented the concept of the Digital Product Passport and DG RTD explained the “Research & Innovation for Sustainable and Circular Textiles”. The EC’s priority on the sustainability and circular economy underlines once again how important it is that CISUFLO is working in this direction to lead the flooring sector in Europe towards the circular economy.
A Methodolgy for Disentangling Public Funded R&D (GBARD) by IndustriesSPINTAN
A Methodolgy for Disentangling Public Funded R&D (GBARD) by Industries. Thessaloniki, SEM Conference. 2016. Matilde Mas, Eva Benages and Juan Fernández de Guevara
Modeling market and nonmarket Intangible investments in a macro-econometric f...SPINTAN
Modeling market and nonmarket Intangible investments in a macro-econometric framework. Sociedty for Economic Measurement Annual Conference. Thessaloniki July 2016
Sources of country-sector productivity growth: total factor productivity and ...SPINTAN
Sources of country-sector productivity growth: total factor productivity and intangible capital in the EU15 and the US. Society for Economic Measurement Annual Conference. July 2016. Thessaloniki
Tecnocampus is a triple helix model who combines knowledge and business . It is a reference in Catalonia due to the success of the companies located, its acceleration programs, the incubator and the entrepreneurial university model.
Digital Cities Conference 2007 - The Social and Economic Impact of a Metropol...Nirvesh Sooful
The 3rd Annual BMI-T Digital Cities Forum is a two day event held on the 4th and 5th of October 2007 .
The City of Cape Town is in the process of installing its own broadband telecommunications network. It is envisaged that not only will this network result in considerable cost savings for the City itself, but also has the potential to bring about significant social and economic benefits to the city at large. The objective of this presentation is to identify, explore and, where possible, quantify the potential economic and social benefits that would be generated as a result of the proposed broadband network.
Innovative and digital solutions for circularity and sustainability in textilesCISUFLO
CISUFLO project was presented during the “Workshop on Innovative and digital solutions for circularity and sustainability in textiles” organized by the European Commission DG Growth, last 15th October.
Dr. Jan Vincent Jordan, on behalf of RWTH Aachen, introduced CISUFLO as potential best practices on how digitalisation supports sustainability and on how SMEs can be supported in digitalization (with a focus on RWTH Aachen “Systemic Transition Support Tool”). During the workshop the DG CNECT presented the concept of the Digital Product Passport and DG RTD explained the “Research & Innovation for Sustainable and Circular Textiles”. The EC’s priority on the sustainability and circular economy underlines once again how important it is that CISUFLO is working in this direction to lead the flooring sector in Europe towards the circular economy.
The SME Innovation Instrument, Horizon2020 and Talent Europe. A discussion by...Alberto Minin
I provide a quick introduction to the Meridian Fellowship on Social Innovation and to my project, Talent Europe,
I will then present some of the latest numbers regarding the implementation of the SME Innovation instrument, one of the most innovative parts of the 8th presentation Framework program called Horizon 2020
I will briefly share with you three concepts that I think might be interesting to explore as a basis of a useful comparison between Europe and US science and technology Policy.
What I am seeking to do as a Meridian Fellow is to expand my expertise on science and technology policy and to contribute to the debate around this topic that is developing in Europe. I think that there are better ways to engage and to empower EU talent, and to make it become key player of EU Economic Recovery and competitiveness
The US had been a continuous source of inspiration for the EU debate on science and technology, and more in general on innovation policy.
Later on I will discuss about the SME innovation instrument that had been inspired in part by the SBIR program here in the US.
Not only policy makers and scholars have been guiding this exchange of ideas and experiences, but also US Embassies in Europe have been very important in sharing with Europe some news. I am very familiar with the case of the US Embassies in Italy. The past three Ambassadors have been evangelists of messages and priorities. Ronald Spogli emphasized the role of high tech entrepreneurs in society, David Thorne has focused on the role the digital economy can have a driver of growth, more recently the sitting ambassador, John Phillips is very vocal about the benefits that Italy could derive by a more efficient judiciary system
My experience as scholar, and teacher is telling me that the debate on innovation in Europe is desperately in need of some fresh air and new ideas.
I believe that there are four areas where we can look.
The first one has to do with new original ways to communicate the relevance of sicence and technology for society.
The second has to do with the way we mentor and assist scientists and engineers that seek to become entrepreneurs. What is the role of universities, government and private sector to achieve this task.
Third area is corporate entrepreneurship, industrial venturing and the attitude EU large corporations have towards change.
Finally demands side innovation policy: public procurement and the setting of challenges and ambitious goals, where sometimes the role of the government should not be to provide the means to achieve these goals, but to promise to act as first buyer for the best solutions for a specific challenge.
This latest competition will award up to £30m to industry led projects aimed at addressing technological barriers to the commercial or industrial exploitation of quantum technologies in the UK. This in contrast to recent CR&D and FS competitions which focussed on developing products, services and components.
Projects should exploit second generation quantum techniques and focus on one or more of the challenge areas of:
- Connectivity
- Situation awareness
- Quantum computing
Projects must be collaborative, business led, and have eligible costs of £4m-£20m (with a maximum grant size of £10m).
Details from the competition scope will be posted on Innovate UK’s website during October. The EOI stage of the competition will open on 28th October 2019 and close on 27th November 2019.
Background: The Commercialising Quantum Technologies ISCF Challenge was launched in July 2019 by the Department of Business, Energy and Industrial Strategy as part of the Industrial Strategy Challenge Fund (ISCF). The ISCF provides funding and support to UK businesses and researchers. The fund is designed to ensure that research and innovation takes centre stage in the government’s Industrial Strategy.
The fund is being administered by UK Research and Innovation.
The Commercialising Quantum Technologies ISCF Challenge is an investment of £153m over 6 years.
Find out more about the Quantum Technologies Special Interest Group at https://ktn-uk.co.uk/interests/quantum-technologies
Digital as an enabler for climate actionSoren Gigler
Digital innovations are key enablers for climate action and sustainability. the presentation provides an overview of the EU's program on the digital and green transformation and provides recommendations on how to leverage the power of digital innovations to address the challenges of climate change.
Productivity and public sector performance - Christian Kastrop, OECD SecretariatOECD Governance
Presentation by Christian Kastrop, OECD Secretariat, at the 11th annual meeting of the OECD Senior Budget Officials Performance and Results network, Paris, 26-27 November 2015.
Presentation by Christian Kastrop on 'Productivity and Public Sector Performa...OECD Governance
This presentation by Christian Kastrop, Director, Policy Studies Branch, Economics Department, OECD, was made at the joint meeting of the Senior Budget Official Performance and Results Network and the Public Employment and Management Expert meeting on 26 November 2015. For further information, please see http://www.oecd.org/gov/pem/.
Conference of the Global Forum on Productivity 2016SPINTAN
Paper by Jonathan Haskel: Productivity slowdowns and inequality speedups: what is the role of intangibles? . Conference of the Global Forum on Productivity. Lisbon 2016
The Role of Intangibles in the Public Sector-A Preliminary Study in JapanSPINTAN
Paper by Tsutomu Miyagawa on the role of intangibles in the public sector focusing on a preliminary study in Japan. Presented in the 9th World Conference on Intellectual Capital for Communities, World Bank, Paris, June 6th and 7th 2013
Public Sector Intangibles: The SPINTAN ProjectSPINTAN
Paper by Matilde Mas on the SPINTAN Project presented in the 10th World Conference on Intellectual Capital for Communities, University Paris-Sud, June 5th and 6th 2014
ICT, R&D and Non-R&D intangible capital: complementary relations and industry...SPINTAN
Paper presented in the Third World KLEMS Conference Tokyo, Japan, May 19-20, 2014. It provides descriptive evidence on the dynamics and intensity of intangible investments in a sample of European countries in 1995-2010. It also assesses the impact of intangible capital on European industry productivity growth focusing on the contribution of ICT, R&D and Non R&D Intangibles.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the what'sapp information for my personal pi vendor.
+12349014282
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
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where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
Matilde Mas Ivars - I Workshop KIIS. Valencia Nov15
1. [ 1 ]
Improving EU productivity
The role of ICT, human capital and intangible assets
Matilde Mas
Universitat de València and Ivie
I Workshop KIIS
Knowledge, Innovation and Internalization Strategies
Facultad d´Economia, Universitat de Valencia
Valencia, 19th-20th November
This project has received funding from the European Union’s Seventh Framework Programme for
research, technological development and demonstration under grant agreement No. 612774
2. [ 2 ]
Labour Productivity growth is key for per capita income growth
“Productivity isn’t everything, but in the long run it is almost everything”.- Paul Krugman
y = 1,01x + 0,21
R² = 0,90
‐1
0
1
2
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4
5
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‐1 0 1 2 3 4 5 6
Per capita income growth (percentage), 1950‐2014
Labour productivity growth (percentage), 1950‐2014
Figure 1. Labour productivity and per capita income, 1950-2014
Source: Total Economy Database, May 2015 (TCB)
3. [ 3 ]
Objetive
To revise the behaviour followed by EU productivity
From an international perspective, comparing the EU with 12 leading
economies of the world
With a high level of industry disaggregation
Focusing on the most recent period 2006-2013
Making use of the highly disaggregated PREDICT database
Searching for potential factors explaining its poor performance:
The importance of the ICT industries
Intangible investment
R&D
Human Capital
Other intangibles (Organizational Capital and Training)
4. [ 4 ]
PREDICT and DICTA Projects
PREDICT:
Period: 2006-2012
Variables: GVA; Employment (nº of Workers); Labour Productivity; BERD; R&D Personnel; R&D
Researchers
Countries: EU-28, US, Norway, Switzerland, Japan, China, India, Korea, Taiwan, Australia, Canada,
Russia and Brazil
Level of Disaggregation (for details see below)
Focused on: ICT industries (OECD (2007) Definition)
Non-ICT Industries but R&D Intensive
Two ICT industries definition: Comprehensive and Operational (excludes Trade)
DICTA:
Period: 1995-2015
Variables: same than PREDICT but including also the variable hours worked
Countries: same than PREDICT
Level of Disaggregation (for details see below)
Same than PREDICT but:
Much higher level of ICT service industries disaggregation
It also Includs: Media and Content industries
Retail sale via mail order hours or via Internet
Two ICT industries definition: Comprehensive and Operational (excludes Trade)
5. [ 5 ]
Industry Disaggregation. PREDICT 2015
NACE Rev.2. Description
a) ICT sector (comprehensive definition)
261‐264, 268, 465, 582, 61, 62, 631, 951 A. ICT Total [A=B+C]
261‐264, 268 B. ICT manufacturing industries [B=1 to 5]
261 [1] Manufacture of electronic components and boards
262 [2] Manufacture of computers and peripheral equipment
263 [3] Manufacture of communication equipment
264 [4] Manufacture of consumer electronics
268 [5] Manufacture of magnetic and optical media
465, 582, 61, 62, 631, 951 C. ICT total services [C=C1+C2]
465 C.1. ICT trade industries [C1=6+7]
4651 [6] Wholesale of computers, computer peripheral equipment and software
4652 [7] Wholesale of electronic and telecommunications equipment and parts
582, 61, 62, 631, 951 C.2. ICT services industries [C2=8 to 12]
582 [8] Software publishing
61 [9] Telecommunications
62 [10] Computer programming, consultancy and related activities
631 [11] Data processing, hosting and related activities; web portals
951 [12] Repair of computers and communication equipment
TOT D. Total (ICT and non‐ICT)
b) ICT sector (operational definition)
261‐264, 61, 582, 62, 631, 951 A'. ICT Total (operational) [A'=B'+C']
261‐264 B'. ICT manufacturing industries (operational) [B'=1 to 4]
261 [1] Manufacture of electronic components and boards
262 [2] Manufacture of computers and peripheral equipment
263 [3] Manufacture of communication equipment
264 [4] Manufacture of consumer electronics
582, 61, 62, 631, 951 C'. ICT services industries (operational) [C'=9+13]
61 [9] Telecommunications
582, 62, 631, 951 [13] Computer and related activities [13=8+10+11+12]
c) Additional sectors
10‐33 Manufacturing
20‐21 Manufacture of chemicals and chemical products; Manufacture of pharmaceuticals, medicinal chemical and botanical products
20 Manufacture of chemicals and chemical products
21 Manufacture of pharmaceuticals, medicinal chemical and botanical products
27‐28 Manufacture of machinery and equipment
29‐30 Manufacture of transport equipment
29 Manufacture of motor vehicles, trailers and semi‐trailers
30 Manufacture of other transport equipment
303 Manufacture of air and spacecraft and related machinery
45‐47 Wholesale and retail trade, repair of motor vehicles and motorcycles
45 Wholesale and retail trade and repair of motor vehicles and motorcycles
49‐99 Services, except trade
49‐53 Transportation and storage
58‐63 Information and communication
64‐66 Financial and insurance activities
69‐82 Professional, scientific, technical, administration and support service activities
69‐75 Professional, scientific and technical activities
85 Education
86‐88 Human health and social work activities
6. [ 6 ]
Industry Disaggregation. DICTA 2015
NACE Rev.2. Description
a) ICT sector (comprehensive definition)
261‐264, 268, 465, 582, 61, 62, 631, 951 A. ICT Total [A=B+C]
261‐264, 268 B. ICT manufacturing industries [B=1 to 5]
261 [1] Manufacture of electronic components and boards
2611 [1.1] Manufacture of electronic components
2612 [1.2] Manufacture of loaded electronic boards
262 [2] Manufacture of computers and peripheral equipment
263 [3] Manufacture of communication equipment
264 [4] Manufacture of consumer electronics
268 [5] Manufacture of magnetic and optical media
465, 582, 61, 62, 631, 951 C. ICT total services [C=C1+C2]
465 C.1. ICT trade industries [C1=6+7]
4651 [6] Wholesale of computers, computer peripheral equipment and software
4652 [7] Wholesale of electronic and telecommunications equipment and parts
582, 61, 62, 631, 951 C.2. ICT services industries [C2=8 to 12]
582 [8] Software publishing
5821 [8.1] Publishing of computer games
5829 [8.2] Other software publishing
61 [9] Telecommunications
611 [9.1] Wired telecommunications activities
612 [9.2] Wireless telecommunications activities
613 [9.3] Satellite telecommunications activities
619 [9.4] Other telecommunications activities
62 [10] Computer programming, consultancy and related activities
6201 [10.1] Computer programming activities
6202‐6203 [10.2] Computer consultancy and computer facilities management activities
6202 [10.2.1] Computer consultancy activities
6203 [10.2.2] Computer facilities management activities
6209 [10.3] Other information technology and computer service activities
631 [11] Data processing, hosting and related activities; web portals
6311 [11.1] Data processing, hosting and related activities
6312 [11.2] Web portals
951 [12] Repair of computers and communication equipment
9511 [12.1] Repair of computers and peripheral equipment
9512 [12.2] Repair of communication equipment
TOT D. Total (ICT and non‐ICT)
b) ICT sector (operational definition)
261‐264, 61, 582, 62, 631, 951 A'. ICT Total (operational) [A'=B'+C']
261‐264 B'. ICT manufacturing industries (operational) [B'=1 to 4]
261 [1] Manufacture of electronic components and boards
262 [2] Manufacture of computers and peripheral equipment
263 [3] Manufacture of communication equipment
264 [4] Manufacture of consumer electronics
582, 61, 62, 631, 951 C'. ICT services industries (operational) [C'=9+13]
61 [9] Telecommunications
582, 62, 631, 951 [13] Computer and related activities [13=8+10+11+12]
7. [ 7 ]
Industry Disaggregation. DICTA 2015 (Cont.)
NACE Rev.2. Description
c) Retail sale via mail order houses or via Internet
4791 Retail sale via mail order houses or via Internet
d) Media and Content sector
581, 59, 60, 639 A. MC sector [A=B+C+D]
581 [B] Publishing of books, periodicals and other publishing activities [B=1 to 4]
5811 [1] Book publishing
5812 [2] Publishing of directories and mailing lists
5813‐5814 [3] Publishing of newspapers, journals and periodicals
5813 [3.1] Publishing of newspapers
5814 [3.2] Publishing of journals and periodicals
5819 [4] Other publishing activities
59‐60 [C] Audiovisual and broadcasting activities [C=5 to 6]
59 [5] Motion picture, video and television programme production, sound recording and music publishing activities
591 [5.1] Motion picture, video and television programme activities
5911 [5.1.1] Motion picture, video and television programme production activities
5912 [5.1.2] Motion picture, video and television programme post‐production activities
5913 [5.1.3] Motion picture, video and television programme distribution activities
5914 [5.1.4] Motion picture projection activities
592 [5.2] Sound recording and music publishing activities
60 [6] Programming and broadcasting activities
601 [6.1] Radio broadcasting
602 [6.2] Television programming and broadcasting activities
639 [D] Other information service activities [D=7 to 8]
6391 [7] News agency activities
6399 [8] Other information service activities n.e.c.
e) Additional sectors
10‐33 Manufacturing
20‐21 Manufacture of chemicals and chemical products; Manufacture of pharmaceuticals, medicinal chemical and botanical products
20 Manufacture of chemicals and chemical products
21 Manufacture of pharmaceuticals, medicinal chemical and botanical products
27‐28 Manufacture of machinery and equipment
29‐30 Manufacture of transport equipment
29 Manufacture of motor vehicles, trailers and semi‐trailers
30 Manufacture of other transport equipment
303 Manufacture of air and spacecraft and related machinery
45‐47 Wholesale and retail trade, repair of motor vehicles and motorcycles
49‐99 Services, except trade
49‐53 Transportation and storage
58‐63 Information and communication
64‐66 Financial and insurance activities
69‐82 Professional, scientific, technical, administration and support service activities
69‐75 Professional, scientific and technical activities
85 Education
86‐88 Human health and social work activities
8. [ 8 ]
The EU should aim at improving its Labour Productivity
Figure 2. Labour productivity, average 2006-2013
(Thousands of 2010 EUR PPP)
Source: DICTA 2015 database elaborated by Ivie and JRC-IPTS
85.2
77.0
66.3 64.2 62.9
60.2
56.9
52.2
46.9
29.3
21.1
11.9
8.4
0
10
20
30
40
50
60
70
80
90
Norway
US
Switzerland
Australia
Taiwan
Canada
EU
Japan
Korea
Russia
Brazil
China
India
Average 25.7
9. [ 9 ]
The rate of growth of labour productivity (LP) in the EU has
been…modest
Figure 3. Labour productivity growth. EU and Non-EU countries, 1995-2014
(annual rates in percentages)
Source: Total Economy Database, May 2015 (TCB)
8.19
4.68
3.17 2.98 2.72
1.67 1.26 1.02 0.96 0.96 0.86 0.85 0.75
0
1
2
3
4
5
6
7
8
9
10
China
India
Korea
Taiwan
Russia
US
Australia
EU
Canada
Japan
Brazil
Switzerland
Norway
Average = 2.3%
10. [ 10 ]
The leadership of the US in LP with respect to the EU has widened during the
2006-2012 period in all industries but two
ICT industries
1 Manufacture of electronic components and
boards [261]
2 Manufacture of computers and peripheral
equipment [262]
3 Manufacture of communication equipment
[263]
4 Manufacture of consumer electronics [264]
5 Telecommunications [61]
6 Computer and related activities [5820, 62,
631, 951]
Non‐ICT industries
7 Manufacture of chemicals and chemical
products [20]
8 Manufacture of pharmaceuticals, medicinal
chemical and botanical products [21]
9 Manufacture of machinery and equipment
[27‐28]
10 Manufacture of motor vehicles, trailers and
semi‐trailers [29]
11 Manufacture of other transport equipment
[30]
12 Transportation and storage [49‐53]
13 Information and communication [58‐63,
except Computer and related activities]
14 Financial and insurance activities [64‐63]
15 Professional, scientific and technical
activities [69‐75]
16 Administration and support service
activities [76‐82]
17 Education [85]
18 Human health and social work activities [86‐
88]
Figure 6. ICT sector Productivity. Dynamics of US-EU differences by industry. 2006 and 2013
(Thousands of 2010 euros PPS)
11. [ 11 ]
We will concentrate on some of the most relevant ones (though not all) with the
objetive of checking how EU performs:
1. The role of ICT industries and ICT R&D
2. Intangible Assets
2.1 R&D,
2.2 Human capital,
2.3 Other Intangible Assets: Organizational Capital and Training
What might be the sources of EU
disappointing performance
12. [ 12 ]
1.The role of ICT
• Traditionally, the manufacturing sector has experienced higher rates of LP growth than
services.
• Since the ICT revolution this classical view has been challenged, basically due to the
contribution of ICT to:
• i) economic globalization;
• ii) vertical disintegration of the production process;
• iii) organizational changes within firms
And, hence, to productivity growth.
• ICT can be viewed from the producing industries side or from the assets´ (software,
hardware and communications) side. Software is both an ICT asset and an intangible asset.
• ICT impact on LP operates through three classical channels: i) labour quality; ii)
technological progress embedded in capital assets; iii) MFP
• Plus the spillover effects generated by the difussion of technical progress from ICT
producing to ICT using industries.
• And its complementarity with other, mainly intangible, assets.
13. [ 13 ]
Source: PREDICT Report 2015 database elaborated by Ivie and JRC-IPTS
EU
NO
CH
AU
BR
CA
CN
IN
JP
KO
RU
TW
US
y = 0,59x + 3,16
R² = 0,76
0
10
20
30
40
50
60
70
80
90
100
0 50 100 150 200
Labour productivity (in thousands 2005 EUR PPS), average 2006‐
2012
ICT Labour productivity (in thousands 2005 EUR PPS)
average 2006‐2012
There is a positive and significant correlation between LP growth in the ICT
sector and aggregated LP growth.
Figure 4. Total labour productivity and ICT labour productivity. EU and Non-EU
countries, average 2006-2012
14. [ 14 ]
LP of ICT sector improved in all countries in relation to the EU
Figure 5. ICT sector Productivity. Dynamics of other economies’ differences vs. the EU
average. 2006 and 2013
(Thousands of 2010 euros PPS)
15. [ 15 ]
3. Spillover effects of ICT. Intangibles and Growth
• The impact of ICT technologies should not be considered in isolation from a
broader concept of investment, especially intangible assets.
• Tangible assets include machinery, buildings, as well as ICT assets such as
hardware and communication. Only recently National Accounts recognize some
intangible assets such as software (ICT) and R&D.
• ICT, intangible assets and productivity (both labour and MFP) are closely related
• Empirical evidence shows a strong correlation between intangibles and LP and
MFP growth (Corrado, Haskel, Jona-Lasinio and Iommi (2013)).
• Corrado, Haskel and Jona-Lasinio (2014) also find:
• i) a complementary relation between ICT and intangible capital
• ii) significant spillovers of intangible capital.
16. [ 16 ]
The US, followed by the UK, have the highest share of intangible assets in total
GFCF. Greece, Portugal, Spain and Italy are on the lowest bound.
Figure 8. Share of GFCF on intangible assets over total GFCF. EU-15 and US. Average
2006-2010 (percentages)
Source: Eurostat, INTAN-Invest and own elaboration.
63.0
56.7
46.8 45.7 45.5
42.8 41.8 41.7 41.5 41.5 40.6
35.0
33.3
28.6 27.8 27.5
19.0
0
10
20
30
40
50
60
70
US
UK
Sweden
Netherlands
France
Ireland
Denmark
Belgium
Finland
Germany
EU15
Luxembourg
Austria
Portugal
Italy
Spain
Greece
Average = 40.6%
17. [ 17 ]
3.1. R&D and growth
• R&D affects LP by:
• i) improving the quality of goods and services produced
• ii) reducing the average production costs
• iii) widening the array of final goods or intermediate inputs available to
companies.
• R&D may also (and it usually does) produce positive spillover effects
(knowledge spillovers)
• The return to R&D is not an invariant parameter, but the outcome of a
complex interaction between firm strategy, competition strategy, and the
macroeconomic environment which is basically unpredictable (Hall, Mairesse and
Mohnen, 2010)
18. [ 18 ]
The advantage of the US in terms of LP is higher than the one it should
have according to its BERD intensity
Figure 9. BERD intensity and labour productivity, average 2006 and 2012
Source: PREDICT Report 2015 database elaborated by Ivie and JRC-IPTS
EU28
NO
CH
AU
BR
CA
CN
IN
JP
KO
RU
TW
US
y = 13.98x + 25.01
R² = 0.22
0
10
20
30
40
50
60
70
80
0 1 2 3
Labour productivity (in thousands 2005 EUR PPS),
average 2006‐2012
BERD intensity, average 2006‐2012
19. [ 19 ]
Figure 10. BERD intensity (BERD/GDP). EU and Non-EU countries, average 2006-2012
(Percentages)
BERD intensity in the EU ranks 7th out of 13 economies
Source: Eurostat and PREDICT Report 2015 database elaborated by Ivie and JRC-IPTS
2.75
2.61
2.14
2.01 1.95
1.27 1.23 1.22
0.99
0.85
0.70
0.49
0.26
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Korea
Japan
Switzeland
Taiwan
US
Australia
EU
China
Canada
Norway
Russia
Brazil
India
average = 1.5%
20. [ 20 ]
BERD intensity is much higher in the ICT sector in all countries contributing to
its faster LP growth
Figure 6. BERD intensity (BERD/GDP). Whole economy and ICT sector. EU and Non-EU
countries, average 2006-2012
(Percentages)
Source: PREDICT Report 2015 database elaborated by Ivie and JRC-IPTS
0
2
4
6
8
10
12
14
16
18
20
Korea
Japan
Taiwan
US
Norway
Canada¹
EU
China
Australia
Brazil¹
India
Russia
Total ICT sector
21. [ 21 ]
3.2. Human Capital and Growth
• It is widely accepted the need to distinguish between the number of workers
(labour quantity) and their qualification measured from different perspectives
(labour quality).
• Dynamics is important for the impact of human capital on economic growth:
• Programs to improve cognitive skills through schools take time to be implemented
• The impact of improved skills will not be realized until the students with greater skills
move into the labour force.
• The economy responds over time through the development and implementation of new
technologies
• A good indicator of Human Capital should combine education attainment with
type of ocuppation performed and level of competencies (PIAAC).
• ICT have a positive effect on these three elements
22. [ 22 ]
EU
NO
CH
AU
BR
CA
JP
KO
RU
TW
US
0
20
40
60
80
100
0 10 20 30 40 50 60
Labour productivity (in thousands 2005 EUR PPS), average 2006‐
2012
Highly qualified employment/Total employment (%)
average 2006‐2012
y=0,92x+18,6
R²=0,24
The US uses its qualified workers in a more efficient way than the EU.
The US LP is higher…
Figure 11. Labour productivity and highly qualified employment*. EU and Non-EU
countries, average 2006-2012
* Employment in ISCO 1-3/total employment
Source: PREDICT Report 2015 database elaborated by Ivie and JRC-IPTS and ILO
23. [ 23 ]
Figure 12. Employment in ISCO 1-3/Total employment. EU and Non-EU countries, average
2006-2013
(Percentages)
…for a similar share of highly qualified employment
Note: for China and India data are not available
Source: Eurostat, ILO and own elaboration
47.9
44.5 43.1 42.6 41.5
38.9
36.8
33.2
24.1
21.6
19.9
0
10
20
30
40
50
60 Switzerland
Norway
Canada
Australia
Russia
EU
US
Taiwan
Japan
Korea
Brazil
Average = 35,8%
24. [ 24 ]
UK and Netherlands have a larger share of OC investment than the US,
and Denmark a larger share in Training. Spain and Greece appear in the
lowest bound.
Figure 14. Share of GFCF on intangible assets over total GFCF. EU-15 and US. Average
2006-2010 (percentages)
Source: Eurostat, INTAN-Invest and own elaboration.
a) Organisational capital b) Training
19.6
14.4 14.4
12.9
12.1 11.5
10.4 10.2
9.6
8.6 8.4 8.2
6.3 6.1
5.1
4.2
2.1
0
5
10
15
20
25
UK
Netherlands
US
Belgium
France
Ireland
EU15
Sweden
Portugal
Germany
Finland
Austria
Italy
Luxembourg
Denmark
Spain
Greece
Average = 10.4%
7.2
6.9
6.6
6.1 5.9 5.7 5.6
4.9 4.9
4.1
3.7
3.5
3.1 2.9
2.6 2.4
0.9
0
1
2
3
4
5
6
7
8
9
10
Denmark
US
UK
Germany
Ireland
France
Netherlands
Luxembourg
EU15
Austria
Sweden
Italy
Finland
Belgium
Portugal
Spain
Greece
Average = 4.9%
25. [ 25 ]
Facts: The EU has a LP problem as shown by:
• A lower LP level than the US, Swiztzerland, Norway, Australia, Canada and Taiwan
• An increasing gap with the US that has widened steadily since 1995, and worsened after 2009
What are the reasons underpinning this EU disappointing achievement
1. The role of ICT industries and ICT R&D. LP in the EU ICT sector has shown during 2006-2013:
• Worse performance than the other 12 economies considered
• Lower BERD intensity than Norway, Canada, Japan, Korea, Taiwan and the US
It should be highlighted that the EU LP productivity gap affects not only the ICT sector but (almost) all sectors
of the economy. Thus, the EU has not fully taken advantage of the efficiency gains enabled by the ICT
revolution. Something else is missing
2. Intangible Assets. Their impact is positively affected by ICT through spillover and complementarity effects
which also reinforce the positive effects of ICT.
• The EU needs increasing the share of GFCF in intangibles approaching that of the US
• Specially BERD intensity (both total and ICT BERD) which is much lower
• As well as in organisational capital, on-the-job training, design and branding
• However, the EU also needs to improve the statistical information in these last forms of intangible capital
Last Warning: The EU is conformed by very different countries/regions. The present situation is much more
unfavourable for Southern and Eastern countries/regions. Regional Policies (as well as information at the
regional level) are needed .
Concluding Remarks