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Expanded Measures of IP in GDP

Expanded Measures of IP in GDP. J. Steven Landefeld Director. IP Investment in GDP. Intellectual property products (new category including R&D, software and entertainment, literary and artistic originals) increased the growth rate of real GDP by .19 percentage point, a 7.6% share of growth.

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Expanded Measures of IP in GDP

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  1. Expanded Measures of IP in GDP J. Steven Landefeld Director

  2. IP Investment in GDP • Intellectual property products (new category including R&D, software and entertainment, literary and artistic originals) increased the growth rate of real GDP by .19 percentage point, a 7.6% share of growth. • From 1995-2012, incorporating R&D investment increased the growth rate of real GDP by.07 percentage point, a 2.8% share of growth. • Even if IP spillovers are as large as direct effects, the contribution of IP appears to explain only about half of the 1/3 of long-term share of growth accounted for by multi-factor productivity.

  3. IP Investment in GDP • In comparison, private investment in commercial and other types of structures accounted for just over .4 percent of average real GDP growth from 1995-2012. • The contribution to average real GDP growth from IP products is larger than private investment in computers and peripheral equipment. • Recognition of private R&D as investment raises private fixed investment by 10 percent in 2012.

  4. New quarterly detail [% chg] Percent Change from preceding period in Real GDP

  5. Performance During Recessions

  6. Performance During Expansions

  7. Shares R&D Investment by Industry

  8. New detail by type of IP Share of Investment in Entertainment, literary and Artistic Originals by Type Misc. Music Theatrical Movies Books Long-Lived Television Total Investment in 2012: $74.8 billion Source: BEA

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