National Intellectual Capital and the Financial Crisis in by Carol Yeh-Yun Lin

By Carol Yeh-Yun Lin

In the 1st decade of the twenty-first century, the most important occasion of globally share used to be the 2008 worldwide monetary predicament, which used to be brought on basically by means of useless governance, failed surveillance structures, and implementation flaws. whereas monetary and fiscal rules succeeded in pulling many nations out of a monetary freefall, so much economies have played underneath pre-recession degrees as governments persevered to fight with their finances.
analyzing the monetary predicament from the point of view of intangible resources presents a special point of view from conventional financial ways. nationwide highbrow Capital (NIC), comprised frequently of human capital, industry capital, method capital, renewal capital, and fiscal capital, is a precious intangible asset and a key resource of nationwide aggressive virtue in today’s wisdom economic climate. The authors—pioneers within the field—present vast information and a rigorous conceptual framework to investigate the connections among the worldwide monetary hindrance and NIC improvement. overlaying the interval from 2005 to 2010 throughout forty eight nations, the authors identify a good correlation among NIC and GDP consistent with capita and think about the effect of NIC funding for momentary restoration and long term danger regulate and procedure formulation.
Each quantity in a sequence of SpringerBriefs on NIC and the monetary obstacle offers in-depth assurance of the impression of the drawback, the aftermath, destiny clients, and coverage implications for a local cluster. This quantity specializes in the BRICKS—Brazil, Russia, India, China, Korea, and South Africa.

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Adding to the scene, some European Union countries had been overlending and overspending throughout the last decade due to easy EU money with low interest rates. Consequently, banks in many countries did not have enough money to support the repayment of foreign debts and corporate loans. As such, confidence fell, which directly hit the consumer market as the global financial crisis set in. At the early stage of the crisis, management scholars criticized the inability of traditional accounting systems to reveal intangible assets that explain hidden values as well as risks for proper decision making (Reavis 2009).

In 2010, Korea has the highest human capital, followed by Russia, China, South Africa and Brazil together, and then India. Yet, human capital score of Korea is far above that of the other five countries. In 2010, India and Russia maintained very similar human capital score in line with their 2005 numbers. The other four countries took a step further and posted good progress during this 6-year period. Market Capital National market capital represents international trade and relationships such as cross-border ventures, globalization, and exports of goods.

S. government afterwards (Delasantellis 2008). Consequently, Russian stock exchanges including MICEX and RTS lost 70% of their value and trading was suspended many times during the market turmoil. Russia’s GDP contracted nearly 8% in 2009, industrial production tumbled by nearly 11%, plummeting exports collapsed by 36% and State revenues fell by almost 5% of GDP from 2007 to 2009 (Aslund et al. 2010). Losses were especially severe in finance and energy. To combat the economic downturn, Russia’s initial fiscal policy response focused on supporting the financial sector and providing fiscal support for enterprises to revive export dependent industries.

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