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Financial Analytics: Science and Experience
 

The system model of the region's intellectual capital

Vol. 8, Iss. 24, JUNE 2015

PDF  Article PDF Version

Available online: 30 June 2015

Subject Heading: SCHOLAR DISPUTE

JEL Classification: 

Pages: 45-54

Makarov P.Yu. Russian Presidential Academy of National Economy and Public Administration, Vladimir Branch, Vladimir, Russian Federation
makarovpu@ya.ru

Importance As crisis processes aggravate due to the Western sanctions, drop in global oil prices and, first of all, system troubles the Russian economy has generated for several recent decades, it would be reasonable to search for sustainable sources of economic growth. In this respect, the region's intellectual capital management issues appear very relevant in order to shift to innovation economy as soon as possible. It is impossible to manage the region's intellectual capital effectively without an uncontroversial model that would describe its structure and composition.
     Objectives The research pursues formulating a model of intellectual capital structure that would be applicable to examine the region's intellectual capital. For this, the structural model should enable to definitely identify components of the region's intellectual capital. The model should also be scalable and reflect the intellectual capital of regional systems at various levels.
     Methods The research is based on the assumption that intellectual capital of systems at various levels (organization, region, etc.) may be regarded on the basis of single conceptual principles. Drawing upon this point of view and general scientific methods, I analyzed the existing approaches to conceptualizing intellectual capital of various socio-economic systems.
     Results I formulate a model of intellectual capital structure that is different from the existing approaches since it is scalable, thus allowing to examine various types of systems. As a result, it is sufficiently flexible to examine intellectual capital of systems at various levels, including the region. The research identifies and reviews the specifics of studying intellectual capital of the regional systems.
     Conclusions and Relevance Based on the model, it is possible to eliminate the existing controversies in studying the region's intellectual capital. Therefore, the model may be used as a basis for further developing this area of research.

Keywords: intellectual capital, economic growth, system model, region

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