The rest is the result of „intangible“ factors—such as the trust among people in a society, an efficient judicial system, clear property rights and effective government. All this intangible capital also boosts the productivity of labor and results in higher total wealth.
What the World Bank economists have brilliantly done is quantify the intangible value of education and social institutions. According to their regression analyses, for example, the rule of law explains 57 percent of countries‘ intangible capital. Education accounts for 36 percent.
Switzerland scores 99.5 out of 100 on the rule-of-law index and the U.S. hits 91.8. By contrast, Nigeria’s score is a pitiful 5.8; Burundi’s 4.3; and Ethiopia’s 16.4. The members of the Organization for Economic Cooperation and Development—30 wealthy developed countries—have an average score of 90, while sub-Saharan Africa’s is a dismal 28.
Quelle: The Secrets of Intangible Wealth
Kurz: Der funktionierende Rechtsstaat trägt zu 57, die Bildung 36 Prozent zum „immateriellen Kapital“ eines Landes bei. Ist dieses Kapital vorhanden, folgt das Geld automatisch, so die Autoren des Artikels.
