National Intellectual Capital and the Financial Crisis in by Carol Yeh-Yun Lin

By Carol Yeh-Yun Lin

In the 1st decade of the twenty-first century, the most important occasion of globally share used to be the 2008 international monetary main issue, which used to be prompted essentially through useless governance, failed surveillance structures, and implementation flaws. whereas financial and financial guidelines succeeded in pulling many nations out of a monetary freefall, such a lot economies have played underneath pre-recession degrees as governments persisted to fight with their finances.

analyzing the monetary problem from the perspective of intangible resources presents a distinct standpoint from conventional fiscal ways. nationwide highbrow Capital (NIC), comprised quite often of human capital, marketplace capital, approach capital, renewal capital, and fiscal capital, is a helpful intangible asset and a key resource of nationwide aggressive virtue in today’s wisdom economic system. The authors—pioneers within the field—present wide information and a rigorous conceptual framework to investigate the connections among the worldwide monetary main issue and NIC improvement. overlaying the interval from 2005 to 2010 throughout forty eight international locations, the authors identify a good correlation among NIC and GDP according to capita and view the impression of NIC funding for non permanent restoration and long term hazard keep watch over and procedure formulation.

Each quantity in a chain of SpringerBriefs on NIC and the monetary predicament presents in-depth assurance of the influence of the difficulty, the aftermath, destiny clients, and coverage implications for a local cluster. This quantity makes a speciality of Austria, Belgium, the Netherlands, and Switzerland.

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Extra resources for National Intellectual Capital and the Financial Crisis in Austria, Belgium, the Netherlands, and Switzerland

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10 %) in 2008. The decline in 2009 reflects the drastic impact of the financial crisis on these export-led countries. In 2010, all four countries had rebounded to a similar level of positive growth. Over the 6 years, Austria and The Netherland had similar patterns of the real GDP growth, while Belgium had a more flat growth before the financial crisis. 2 indicates that Austria had relatively stable government debt over the years with a little increase after the financial crisis. Belgium had the highest level of government debt, far exceeded the 60 % limit suggested by the EU even before the financial crisis.

75 % quarter-on-quarter growth (Masselink and Noord 2009). The economy exited recession in mid-2009, as the effects of the fiscal stimulus, easier monetary policy, improved financial conditions, and an emerging recovery in world trade kicked in OECD (2010). Despite the large output contraction, the unemployment rate increased only marginally in 2009 (Enoch et al. 2011). S. Department of State 2012b). Switzerland Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world (CIA 2012).

In 2007, bank loans to corporations amounted to 83 % of its GDP, compared to around 60 % of the GDP in Germany, France, and Belgium (Masselink and Noord 2009). The high dependence of The Netherlands on bank credit makes it relatively vulnerable to changes in the credit conditions. In order to fight against the consequences of the crisis, the Dutch government launched three economic stimulus packages since November 2008. S. Department of State 2012b). S. Department of State 2012b). a). 6 billion (€6 billion) to stimulate the economy.

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