The Effect of Intellectual Capital on Economic Growth: A Case Study of Selected Asian ‎Countries

Document Type : Research Paper

Authors

1 Department of Economics - Faculty of Economics and Administrative Sciences - University of Sistan and Baluchestan - Zahedan - Iran

2 Department of Economics. University of Sistan and Baluchestan

10.22111/innoeco.2025.52348.1195

Abstract

Intellectual capital is one of the main factors in achieving economic growth, which in ‎addition to direct effects on the economic growth of a country or region can also have ‎spillover effects. Accordingly, the aim of this study is to investigate the direct and ‎indirect effects (spillovers) of intellectual capital on economic growth in Central Asian ‎countries including Iran, Saudi Arabia, Kuwait, Qatar and the UAE in the period 2012-‎‎2021. The innovation index considered is the global innovation index and the Spatial ‎Durbin econometric model was used to estimate the model. Also, a spatial weight matrix ‎between the studied countries was created based on the distance between the countries. ‎The model results showed that all variables in the model except foreign direct ‎investment, other variables including natural capital, intellectual capital, and good ‎governance index had direct and significant effects on the economic growth of ‎countries. The good governance index and intellectual capital had the highest direct ‎effect coefficient on the economic growth of countries. The study of (indirect) spillover ‎effects has shown that intellectual capital has had positive and significant spillover ‎effects on the economic growth of neighboring countries.‎

Keywords

Innovation EconomicEcosystem Studies
Volume 5, Issue 1
January 2025
Pages 61-76

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