90% of it. The rest is due to labour quality and computers, with intangible investment intensity falling over the period. So manufacturing is very much driven by within-indus- try intangible investment, whilst finance is very much driven by TFP (which could of course reflect within-industry spillovers of intangible investment). In trade, computers and intangibles account for around 19% of LPG.
Finally, Online Appendix C, Table C1, shows the impact of adding intangibles, which is that