Intangible capital, tools for steering economic growth in Morocco: a scientometric analysis

Abstract

The international economy is undergoing a shift in production through a shift in the driving forces of the economy. This shift from material to immaterial production explains the growing interest in the study of intangible capital. Intangible capital is an innovative and complex concept. It is not easy to define, because of its multidimensional scope, the complexity of its identification, measurement and allocation in the productive fabric of economies, from the data of traditional accounting systems. The approach based on the concept of intangible capital has the merit of offering a framework for assimilating the dynamics and process of wealth creation at the macroeconomic level, identifying its internal and external drivers and optimizing, by implication, the process of designing and implementing economic policies.

This contribution aims to study, in the case of Morocco, the relationship between the indices quantifying intangible capital (exogenous variables) and economic growth (endogenous variable). We will analyze this relationship in relation to the macroeconomic aggregate that is the GDP in order to assess the ability of the components of intangible capital to predict the evolution of the indicators of this indicator. This work is based on the following problem: To what extent can intangible capital predict the evolution and the steering of economic growth in Morocco?

Our study sample is composed of 28 indicators quantifying the components of intangible capital for a period from 1990 to 2020. Similarly, GDP, which measures economic growth in Morocco, is spread over the same period. In order to study the capacity of intangible capital to drive economic growth in Morocco, we will carry out this econometric study via the multiple linear regression model (MLR).

The results obtained from our study confirm the economic theory mobilized in this article; the investment in intangible capital makes it possible to predict the evolution of economic growth in Morocco.

JEL Classification: E01

Paper Type : Empirical Research