Intellectual capital as a driver of economic development

Abstract

There are different factors for obtaining economic development. In contemporary economics knowledge and intellectual capital have become necessary for achieving economic development. Managing and development of intellectual capital bring benefits and advance the economy. The main aim of the paper is to present the concept of intellectual capital as a driver for economic development. Selected indicators for measuring intellectual capital and knowledge and their influence on the economic development have been presented. The impact of intellectual capital on economic development is different based on the level of development national economy. Intellectual capital is a driver for economic development in advanced economies, while in developing countries is not so dominant.