El potencial inteligente y la productividad de las regiones europeas

In: http://hdl.handle.net/10578/28605

Open Access

Abstract

In an increasingly globalized world, it is obvious that digital technology has transformed the world. Modern society is immersed in a continuous process of information acquisition and new knowledge. Likewise, the process of globalization is not a uniform process. In turn, economic interdependence is increasing between areas and less developed regions are being left behind due to structural changes in the world economy. Nevertheless, the knowledge era will continue to offer new discoveries which bring value to economies. In this context, an adequate smart potential favour the adaptation, productivity and living standards of regions prior to change. Consistent with international influence the European Union, considers innovation the main course of action for smart and sustainable growth. Technological advances have revealed the significance of knowledge as the dominant intangible asset. In fact, knowledge creates smart potential, an asset that can provide a competitive edge to regions. Intelligent potential, therefore, should be considered a productive factor, the same as capital formation or labour. Thus, both structural and human factors are considered important for economic growth, as well as for improving competitiveness towards a better economic position, greater social welfare and prosperity. As a consequence, the aim of this thesis focuses on two areas: firstly, to understand the potential intellect, and its components: human; and technological and digital structural, in the European regional level from the perspective of intellectual capital; secondly, to analyse the relationship between these factors and traditional production factors in labour productivity. The empirical data used for this thesis is based on the information of 269 European NUTS 2 regions for the period 2009-2019 showing the distribution of the smart potential and its relationship to an increase in production. This thesis concludes that both components of intellectual capital (human; and technological and digital structural) allow European regions to improve their productivity results and wealth outcomes, taking into account the global and competitive context in which they develop. On the one hand, human capital (demography, education, health and market structure) increases the productivity of labour force more than other factors and with more impact in European regions which are lagging behind. On the other hand, structural R&D and technological capital (science technology, digital economy and society) has a positive influence on the labour productivity of regional economies, although dependant to a large extent on the volume of investment in physical capital. This factor has a greater relevance in advanced European regions. Finally, both capitals' strengths, i.e. knowledge and new technologies have a positive impact on wealth creation on a European level. It can be concluded that regional economic productivity must be accompanied, by the promotion of structural factors such as technological innovation to boost productive capital and, furthermore, that human factors such as training, health and the development of the workforce all support labour productivity. Policy issues are beyond the scope of this research, although the information derived from it could be valuable as source for the development of policy practices. It follows that there is an urgent need for governments to reconsider how they model various scenarios in which knowledge influences and may contribute to growth and development. Keywords: human capital, structural capital, intelectual capital, intelligent potential, productivity, regions, NUTS 2