(c) The most intangible-intensive industry is manufacturing (intangible investment as a proportion of value added is 20%). Manufacturing, financial services and business services all invest about 3:1 on intangibles to tangibles.
(d) The effect of treating intangible expenditure as investment is to raise growth in market sector value added in the late 1990s (the internet investment boom), but slightly reduce growth in the 2000s.
(ii) Contributiontogrowth,2000–08.
(a) For the most recent period of 2000–08, intangible capital deepening accounts for 23% of growth in market sector value added per hour (