of both oil and non-oil producers to investment. Contrary to widespread belief, we do not find evidence that low quantity … of investment is the main of low growth. The decline in the investment rate followed rather than preceded the reduction … in the aggregate growth rate. We conclude that the low quality of investment projects is the key determinant of growth …

recognizing that firms make substantial investment in intangible assets such as R&D, design, advertising etc. These investments … are not classified as investment in the National Accounts, where only tangible assets are defined as investment. This … paper provides estimates of investment in intangible assets and uses the growth accounting framework to analyze the Swedish …

total investment in intangibles was 227 billion or approximately two-thirds of the total investment in fixed capital in 2004 …. Thus, investment in intangibles was considerable in 2004. The corresponding figures for the UK and the US were 10.9 and 13 …

identified shocks as explanatory variables in fixed effect regressions on growth rates of employment, output and investment. We … find that our shocks are closely associated to employment growth and output growth but not to growth in investment. The …