Naslov
System dynamics modelling and simulating the effects of intellectual capital influence on economic growth

Autori
Milić Beran, Ivona

Izvornik
Croatian operational research review (1848-0225) 6 (2015), 2; 445-457

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
intellectual capital ; economic growth ; system dynamics ; structural model ; development diagram

Sažetak
System dynamics modelling is one of the best scientific methods for modelling complex, nonlinear natural, economic and technical system dynamics as it enables both monitoring and assessment of the effects of intellectual capital on economic growth. Intellectual capital is defined as “the ability to transform knowledge and intangible assets into resources to create wealth for a company and a country.” Transformation of knowledge is crucial. Knowledge increases a country’s wealth only if its importance is recognized and applied differently from existing work practices. The aim of this paper is to show the efficiency of modelling system dynamics and simulating the effects of intellectual capital on economic growth. A computer simulation provided a mathematical model, providing practical insight into the dynamic behavior of the observed system, i.e. the analysis of economic growth and observation of mutual correlation between individual parameters. The results of the simulation are presented in graphical form. The dynamic model of the effects of intellectual capital on Croatia’s economic growth has been verified by comparing simulation results with existing data on economic growth

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA