The IMF hosted a webinar to present the Global INTAN-Invest project

On 14 November 2024, the International Monetary Fund (IMF) hosted a hybrid webinar titled "STA Innovation Talks: Intangible Assets in the Global Economy – Better Data for Better Policy" to illustrate the Global INTAN-Invest database and the main findings from the World Intangible Investment Highlights, a joint work by F. Bontadini, C. Corrado, C. Fink, A. Grewal, M. Iommi, F. Jaccoud and S. Wunsch-Vincent, co-published by the Luiss Business School and the World Intellectual Property Organization (WIPO).

The webinar was chaired by Jim Tebrake (Deputy Director, Statistics Department, IMF), who underscored the relevance of the Global INTAN-Invest project as a milestone towards addressing the current gaps in the measurement of intangible capital.

After a brief introduction by Carsten Fink (Chief Economist, WIPO) and Cecilia Jona Lasinio (Full Professor of Applied Economics, Luiss Business School), key aspects of the Global INTAN-Invest project were showcased by Massimiliano Iommi (Senior Researcher, Italian National Institute of Statistics and Senior Expert, Global INTAN-Invest team, Luiss Business School).

In his presentation, Iommi illustrated the methodology, the conceptual framework (Corrado, Hulten and Sichel 2005), main results and the next steps for expanding the database. He also addressed challenges, particularly those related to measuring intangibles in developing countries, where the informal sector accounts for a large part of the economy.

The detailed presentation was followed by remarks by Erich H. Strassner (Chief of the Real Sector Division, Statistics Department, IMF), who offered his feedback on the project’s country and asset coverage and highlighted challenges in measuring intangibles, underscoring the need for capacity building at the country level.

Following a fruitful discussion with the audience, the IMF team emphasized the relevance of the project and the results achieved so far. They mentioned their ongoing project on elaborating multi-regional input-output tables and suggested a potential presentation to explore how this data source could further contribute to Global INTAN-Invest.

Engaging with key international institutions such as the IMF is crucial to fostering the discussion on intangibles and their central role in driving innovation and economic growth. This is why, similar webinars with other international institutions have been scheduled for the near future.