1. COINVEST: Competitiveness, Innovation and Intangible Investment in Europe Project briefing: who, what and how EU, 28 th May 2008, Brussels Funded by FP7 Co-ordinator: Jonathan Haskel Queen Mary, University of London: CEPR, CeRiBA, and IZA Website : www.coinvest.org.ukwww.coinvest.org.uk Email: coinvest@qmul.ac.uk

2. 1. Who

3. 1. Who (contd) Statistics agencies –UK –France –EUKLEMS contacts via Bart van Ark Other bodies –OECD (Yoshi Tojo) –US (NSF/BEA Innovation Accounting project) –UK (BERR, NESTA Innovation Index project) –Other FP7 projects e.g INNODRIVE

4. 2. What? Expected results and policy relevance Intense policy interest in –productivity –innovation record –why the gap with the US Policy needs –Knowledge economy increasingly important –Data sparse –Activity and Impact on prod and innovation might be hidden by data problems activity: much inn activity is hidden (e.g. non-scientific R&D, own account) impact: much inn impact is hidden (accounts treats most intangible investment as an intermedite, so GDP unaffected ) Results –Improved macro measurement and analysis –Improved micro evidence base

5. 3. How? Method developed and used: Macro Macro side: measure activity and impact –Activity Ongoing SNA work on capitalisation of software and R&D Broaden to included other intangible categories such as design, training, branding, organisational investment –Impact Recalculate investment, GDP Revisit –sources of growth –Productivity levels

6. 3.How? Method developed and used Micro Micro side Exploration of different firm level data sets. Micro data on firms from CIS etc. Company accounts Purchases surveys Regulation cases Development better estimates of –Prices –Depreciation –Spending/investment Informed by matched employer/employee data