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

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Presentation on theme: "Www.bea.gov Expanded Measures of IP in GDP J. Steven Landefeld Director 1."— Presentation transcript:

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

2 www.bea.gov 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 www.bea.gov 3  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. IP Investment in GDP

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

5 www.bea.gov Performance During Recessions 5

6 www.bea.gov Performance During Expansions 6

7 www.bea.gov Shares R&D Investment by Industry 7

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

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