Golovchanskaya E.E., Strelchenya E.I., Petrenko E.S.Published in:
Creative Economy
– Volume 12, Number 10 (October 2018)



Keywords: innovative activity of the population, innovative economic growth, intellectual resource


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Abstract:

The article suggests an approach to the analysis of the influence of an intellectual resource on economic growth. To clarify the significance of the intellectual characteristics of the population in the formation of economic growth, the structure of an intellectual resource was proposed that includes public health, the quality of education, accumulated social capital, a system of cultural values and a propensity for innovation. According to data from 29 developed and developing countries in the period 2007-2013, a regression was constructed on the basis of the Cobb-Douglas function, which included the integrated index of the intellectual resource - the average geometric estimates of its structural elements. It was found that for a selected group of countries, cultural values and the propensity of the population to innovate cause a greater influence on economic growth than the quality of education, social capital and the level of public health.

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