MACROECONOMIC PERSPECTIVE OF INTELLECTUAL CAPITAL – NATIONAL INTELLECTUAL CAPITAL ( NIC )

Intellectual capital at the macroeconomic (country) level is a new area of research that focuses on understanding, measuring and reporting of intangible assets that can have an influence the creation of national wealth. The concept is abstract, unequivocal and complex, which causes individual authors to differentiate their interpretation of this economic category. The paper presents an analysis of approaches to defining and classifying national intellectual capital (NIC). This enables the authors to identify various perspectives on the topic.


Introduction
Capital is one of the key and at the same time unequivocal categories to which both theory and practice attach different meanings.On the one hand, it is a body of past work accumulated over time.On the other hand, it reflects the abilities to generate future value.The ability to increase its value and the ability to create new values are the potential properties of capital [Woźniak-Sobczak, 2006, p. 40].According to M. Dobija, the capability to multiply itself with the passage of time is a natural attribute of capital.As an abstract concept, capital is multiplied using various assets, which is reflected in the principle of economic equilibrium [Teoria rachunkowości…, 2005, p. 36].While analyzing the nature of capital, Dobija developed an interesting conception: the significance of capital in economics is the same as that of energy in physics 1 .
Nowadays, attitudes to the notion of capital occur together with the changes in the functioning of economies.Apart from material capital, a new form is mentioned -intellectual capital.Although these two complement each other, it is still chiefly material capital that is reflected in economic models.
In this context, there emerges the problem of where to place the category of intellectual capital in the hitherto prevailing terminology.This issue becomes more complex when intellectual capital is considered in the macroeconomic perspective.Then it is referred to as national intellectual capital (NIC).
The concept of intellectual capital in the macroeconomic perspective is now in an early stage of development 2 .This is determined mainly by the complex and non-uniform character of national intellectual capital, various levels of aggregation, the degree of precision of particular approaches, as well as by different structures of theoretical models [Michalczuk, Fiedorczuk, 2017, p. 216].
The aim of the paper is to present and systemize the approaches to conceptualization and categorization of intellectual capital in the macroeconomic perspective.The paper attempts to organize the present body of knowledge regarding the definition and categorization of national intellectual capital (NIC).This is done through analysis of the literature concerning the problem of national intellectual capital in the light of the so far developed approaches to definition, taxonomy, and methodology.

The essence of national intellectual capital (NIC)
Capital is a basic category of economic sciences.It is in the focus of interest of economics, finances and management.This is mentioned, among others, by S. Flejterski, who emphasizes the fact that capital is the main concept of economic sciences and economic practice [Flejterski 2010, p. 12].And yet, despite its importance, it still remains a fairly unexplored factor whose composition, structure, fluidity, and origin are changing.Consequently, it is difficult to define 'capital' 3 , because like most economic categories, it is a conceptual synthesis of a certain part of economic reality.The capital itself is an abstract notion and, according to A. Herman, it becomes a term only after it has been defined, whereas its definitions have been changing over centuries along with the progress of 1 Thorough studies of the manifestations of concepts and metaphors related to energy in economic thought were conducted by P. Mirowski [1989].The value and the usefulness of capital through the prism of physical understanding of energy were considered, among others, by T. Veblen, W.S. Jevons, I. Fisher, W. Pareto, and L. Warlas.Their concepts were based on perceiving mechanics as a model for economic sciences.I. Fisher presented a table including analogous physical and economic categories, where energy was the equivalent of usefulness [Cieślak, Dobija, 2007, pp. 7-9].
2 civilization [Czym jest…, 2008, p. 4].It is the way in which a certain category is defined that informs one of its scope and meaning.However, defining it is far from simple 4 because, like other economic categories, capital is subject to evolution, which translates into various approaches to both the definition and the interpretation of the concept.
The efforts to implement the achievements of economic sciences have resulted in the development of several expressions including the word 'capital'.Such terms as 'social capital', 'cultural capital', 'intellectual capital', or 'organizational capital' are used more and more frequently.This terminological diversity of the category has provoked a debate regarding not only the definition of these increasingly significant concepts but also search for the factors determining these 'capitals'.
E. Mączyńska claims that the evolution of the concept of 'capital' is visible, among other things, in the fact that numerous forms and adjectives related to this word have entered the language [Czym jest…, 2008, p. 4].Intellectual capital is one of these new forms.N. M. Sharif underlines that intellectual capital is located one step higher than other capitals; it constitutes a meta-resource.Naturally, it denotes more than just hidden knowledge related to human capital or literal knowledge that is an element of information capital.Intellectual capital can, therefore, be regarded as a refinement of all the other resources [Knowledge Cafe…, 2006, p. 66].
The category of intellectual capital has been popularized as a result of the transition from an industrial economy based on traditional production factors to a knowledgebased economy.As regards the changes taking place in the economy, there is an ongoing debate among economists focused around the question of what intellectual capital actually is and how it differs from capital perceived in the traditional way, i.e. from material (real and financial) capital.However, it is difficult to answer a question formulated in this way owing to the fact that, despite numerous attempts, no single, comprehensive definition of intellectual capital has been agreed on.
Intellectual capital is a category the basis of which is its microeconomic approach referring to the intellectual capital of a company 5 .All the questions regarding its definition, taxonomy, measurement or reporting are considered in this context.The development of the concept of knowledge-based economy has contributed to the fact that the importance of intangible resources for national economies has begun to be more appreciated.It emerged that wealth is generated not only by material capital.Intellectual capital is increasingly regarded as a source of wealth.As a result, the concept of intellectual capital has been transferred onto the macroeconomic level6 .

4
The concept 'capital" is of key importance in the theory of economics.However, despite the fact that this term has been used by economists from the times of A. Smith to the present day, one universal definition has still not been elaborated.More information: [Dobija, 2002].

5
These days intellectual capital is indispensable for each company.It determines its competitiveness, development and investment potential, creating additional possibilities of presenting it as a strategic resource [Wójcik-Jurkiewicz, 2011, p. 321].
National intellectual capital (NIC) is also a notion that still has not been clearly defined, despite considerable efforts made in this regard.The reason is that this category is complex and internally non-uniform [Marr, Chatzkel, 2004, pp. 224-229].
Y. Malhotra defines intellectual capital as knowledge assets of individuals, companies, institutions, communities, and governments that reflect both the present and future potential sources of generating wealth and improving living standards [Malhotra 2003, p. 3].These assets are essential for economic growth, maintaining competitive advantages, as well as for the development of society and improvement of the quality of life.N. Bontis sees it in a similar way, as for him, the term denotes hidden, intangible, intangible values inherent in people, companies, institutions, communities, and regions that constitute both the present and future potential sources of wealth [Bontis 2004, pp. 14-15].This approach to defining NIC focuses on the multi-layered structure of intellectual capital carriers, i.e. man, formal groups (e.g.companies) and informal groups (e.g.society).
D. Andriessen and C. Stam define NIC as accessible intangible resources that ensure a relative advantage over other countries, which (when used appropriately) may cause generation of material benefits in the future [Andriessen Stam 2004, p. 4;2008, p. 490].
L. Edvinsson and C. Yeh-Yun Lin associate national intellectual capital with information, knowledge, intellectual property and experience, which can be used for creating prosperity and which are the roots of the future abilities to gain wealth and achieve advantages over other countries [Edvinsson Lin, 2008, p. 254].Navarro, Ruiz and Peña define national intellectual capital as intangible capital found in a country's inhabitants (knowledge, skills, qualifications, personal development for achieving objectives, cultural values, conditions of domestic labor market, foreign labor force), as well as structural, economic and social capital that makes possible the creation of future benefits for the country [Navarro Ruiz Peña, 2014, pp. 263-264].
The overview of the most representative concepts of national intellectual capital (apart from the aforementioned ones) is shown in Table 1.
-a tool of management and reporting on intellectual capital [Ondari-Okemwa 2011, p. 140].The first appendix to Skandia's annual financial report, "Visualizing intellectual capital in Skandia", was published in 1994, whereas in 1995 two supplements were issued: "Renewal and development intellectual capital" and "Value-creation process: intellectual capital"; in 1996 further supplements were published: "Power of innovation: intellectual capital" and "Customer value" [Bontis, 1998, p. 74] On their basis, and within the framework of establishing in Sweden the Year of Innovations in 1996, as well as owing to the functioning of Skandia Future Centre (L.Edvinsson became the Director), Skandia Navigator was modified to the national level [Edvinsson, 2004, p. 157] Having been adjusted to the macroeconomic conditions, the model was used in the first (on the global scale) reports on the state of national intellectual capital in Sweden: "Welfare and Security" [Stenfelt et al., 1996] and "Invest in Sweden" [Rembe, ISA, 1999], [Lin, Edvinsson 2011, p. 8].

TABLE 1 Approaches to defining national intellectual capital (NIC)
Author Definition Pasher (1998) Hidden, intangible national resources that ensure competitive advantage and high potential economic growth.Schneider (2007) Intangible national resources embedded in socio-cultural models, openness to the world, initiative, acceptance of change, willingness to adopt new technologies, etc.
-all this determines a country's competitiveness.Prime Minister's Strategic Advisory Board ( 2008) All the intangible resources of people, companies, societies, regions, and institutions that can be a source of both present and future national prosperity (when used appropriately).
The World Bank ( 2008) Assets that manifest themselves, among other things, in the relations between entrepreneurs, innovations, R&D sector, software, quality, human capital, efficient institutions, communication technologies, etc., which (when used appropriately) are a key source of economic growth on the global scale.
Węziak-Białowolska ( 2010) Directly unobservable attributes of a region's inhabitants, companies, institutions, organizations, societies, and administration units that are both present and potential sources of improvement in future social and economic prosperity.
Edvinsson, Lin (2011) Knowledge, wisdom, skills, and experience that guarantee competitive advantages of a country over other countries and that determine potential for further growth.Käpylä, Kujansivu, Lönnqvist (2012) Knowledge that creates value in society and can be perceived as one of the forms of complementing natural capital and production.

Lazuka (2012)
All the intangible values that ensure comparative advantages and increase prosperity.Salonius, Lönnqvist (2012) A set of assets that support a nation in pursuing the objectives related to economic, social, and environmental development.Phusanvat, Comepa, Sitko-Lutek, Ooi ( 2012) Intangible values generated by society, as well as resources in the form of relationships with consumers, suppliers, and with the system's philosophy and organization.
Seleim, Bontis (2013) Knowledge-based resources that constitute a foundation for national growth and development, as well as national competitiveness and capacities.
The definitions presented above are examples of approaches to the conceptualization of national intellectual capital.They are characterized by a discrepancy in terms of terminologies and concepts, which is undoubtedly a result of the individual approach adopted by particular authors as regards the understanding of the category of intellectual capital and considerable scope for ambiguity [Michalczuk, Fiedorczuk, 2017, p. 216].Despite these discrepancies, the definitions interpret national intellectual capital as a collection of intangible resources which determine the achievement of a certain 'result', e.g., a country's wealth, growth of the global economy, present and future welfare, improvement of living standards, increased competitiveness, competitive advantages, or economic growth.Furthermore, according to Käpylä, Kujansivu and Lönnqvist [2012, p. 345]: 1.The main distinguishing feature of national intellectual capital is an invisible, intangible and hidden form of capital (intangible resources), although Ruiz, Navarro and Penã [2011] believe that national intellectual capital may also assume a visible and tangible form.This explanation of intellectual capital in the macroeconomic perspective constitutes the so-called traditional approach [Ruiz, Navarro, Penã, 2011, p. 261], comprising financial indicators, e.g.expenses on education per one inhabitant or investments in the R&D sector in relation to GDP; 2. The resources of intellectual capital are found mainly in human beings, i.e. in the country's inhabitants and include, among other things: knowledge, wisdom, experience, skills, creativity; additionally, they are aggregated in larger groups of entities: companies, societies, institutions, administration units, regions, governments; 3. The essence of national intellectual capital is explained using expressions referring to the present state -i.e.'present wealth, potential, prosperity and benefits' and to the future (prospective character of the usefulness of intellectual capital) -'improvement in the future', 'future growth', 'future benefits and prosperity', 'potential source of generating wealth' 7 ; 4. While defining NIC, authors use both static expressions (wealth, benefits, prosperity, living standard, value) and dynamic expressions (future improvement, future growth, becoming wealthy, achievement of advantage).Intellectual capital is composed of intangible resources that constitute a potential for future development based on knowledge economy, provided that they are appropriately identified and used.It determines each country's capacity of performing functions of high added value, including the ability to create innovations and entrepreneurship.

Categorization of national intellectual capital (NIC)
The specific characteristics of intellectual capital regarding mostly its lack of physical dimension and (in many cases) also lack of a financial scale lead not only to difficulties 7 Only the definition of NIC proposed by Phusavat et al. in 2012 presents the approach only from the perspective of the present time, whereas the definition provided by Bontis in 2004 clearly emphasizes the perspective of the past -'roots to prosperity'.in defining it, but also have an impact on the range of NIC categorization.This is reflected in the diversified approach to capturing the structure of intellectual capital, with particular authors focusing on the numerous aspects of the notion [Michalczuk, 2013, p. 87].The adopted taxonomy enables them to specify the definition of national intellectual capital by aggregating intangible resources according to certain components.Undoubtedly, the basis for the existing categorizations of intellectual capital were provided by those developed at the microeconomic level (of organizations).
The internal structure of intellectual capital is perceived by particular authors in various ways, as illustrated in Table 2.  human capital, which comprises all the citizens' potential expressed by their education, life experience, attitudes and skills, and which may help improve present and future prosperity;  structural capital, which comprises the potential stored in tangible elements of the infrastructure of a national system of education and innovation -educational, scientific and research institutions -as well as in IT infrastructure and intellectual property;  social capital, which comprises society's potential expressed by the existing standards of conduct, trust and involvement that, by supporting cooperation and exchange of knowledge, contribute to increased national prosperity;  relation capital, which comprises the potential related to the country's image abroad, level of integration with the global economy, attractiveness for foreign customers -trade partners, investors, and tourists.
Węziak-Białowolska (2010)  human capital, i.e. knowledge and education, skills and abilities of people, as well as their personality traits related to initiative, inclination to innovate and willingness to acquire knowledge in the course of both formal and informal education -defined as 'orientation at personal development';  social capital, which comprises a set of social and legal norms, as well as shared values and customs shaping the world of social and economic relations and expressed chiefly in the level of social trust and the appropriate quality and quantity of formal and informal interpersonal networks of relations, as well as the relationships between various kinds of organizations, institutions and companies;  structural capital, which comprises social infrastructure (a set of public devices satisfying social, educational, and cultural needs of population), as well as technical infrastructure (living and working conditions: transportation and communication infrastructure, and especially telephone infrastructure and Internet access);  development capital, i.e. a reflection of the inclination to innovate through the level of present investments and the widely perceived level of exchange and application of knowledge aimed at optimal use of potential and crucial for future national wealth.Edvinsson Lin (2008,2011)  human capital, i.e. individuals' knowledge, wisdom, experience, intuition, and abilities to accomplish national objectives and tasks, as well as the culture and philosophy of a nation;  market capital, comprising resources intrinsic in international relations.
It is a combination of a country's capabilities and successes in ensuring attractive and competitive solutions for the needs of foreign customers, investments made by the country, and achievements in the field of foreign relations, including exportation of high quality products and services;  process capital: structural intellectual resources, i.e. information systems, software, databases, laboratories and national infrastructure, e.g.infrastructure connected with transportation and logistics, information, communication and computers, as well as technological skills, cyber security, and knowledge transfer;  renewal capital, which comprises national skills and real investments made with the aim of increasing the competitive force of markets in the future and stimulate future growth. human capital, including knowledge, skills, personal development directed at achieving objectives, as well as qualifications, cultural values, national conditions on the labor market, resources of labor force from abroad;  structural capital, i.e. a 'non-human' structure related to business, bureaucracy, image, participation in international markets, technologies, innovations and sustainability, which enables a country to generate benefits in the future;  process capital, i.e. information systems, as well as managerial, bureaucratic, and organizational structures;  relational and trade capital, i.e. the quality of trade balance with division into positive (exports of advanced technologies) and negative information on this subject;  marketing and image capital, i.e. national and foreign image as well as international relations;  research and development capital, i.e. capacity for innovation, research and development by means of investments, and the efficiency with which the existing resources are exploited, using available information);  socio-environmental capital, i.e. social commitment to perform the tasks of the welfare state related to the inhabitants' living standards, the natural environment and sustainable development (e.g.access to medical care, average life expectancy, environmental protection).
The existing concepts of national intellectual capital differ from one another in terms of their components.The first attempts at classification were based on the assumption that intellectual capital consists of two segments, i.e. human capital and structural capital8 .Gradually, more complex models of national intellectual capital were developed, and increasingly detailed spheres related to the functioning and resources of a nation began to be taken into account.This is a result of differences in understanding, and the consequently different interpretations of intellectual capital by particular authors.The diversity of the ways in which intellectual capital is defined and described justifies the necessity to organize the approaches to its categorization [Michalczuk, 2013, p. 93] Undoubtedly, the aforementioned concepts regarding NIC taxonomy have one common feature -they all emphasize its key component -human capital.The differences between these concepts, on the other hand, are related to the range of aggregation and definition of other components of intellectual capital within the framework of which intangible resources are identified.According to most authors, depending on the accuracy of aggregation, intellectual capital reflects intangible resources comprised within two or four components.The most elaborate division is offered by Navarro, Ruiz and Peña, who distinguish as many as six components, besides human capital.
The occurrence of particular components of national intellectual capital in the analyzed models in terms of their taxonomy of division is presented in Figure 1.
Of the presented concepts, structural capital is the second most frequently mentioned component (apart from human capital).However, in particular approaches it has a different conceptual range.The taxonomy adopted by Rembe & ISA, Bontis, Pasher & Shachar and Malthor offers the most comprehensive definition.This is because structural capital aggregates: market capital and organizational capital (process capital and renewal/development capital).These are conceptual models of national knowledge assets, using the structure of NIC assets as defined by Edvinsson and Malone [1997], which divide national intellectual capital into two main components: human capital and structural capital.If other concepts distinguish intellectual capital, it has a narrow range and reflects mostly intangible resources accumulated in tangible elements of infrastructure, e.g.social, educational, innovative, technological, as well as information and communication structure.Meanwhile, the least frequently aggregated intangible resources include such components as social capital, innovation capital, socio-environmental capital, as well as marketing and image cpitals.

FIGURE 1. Occurrence of a certain NIC component in analyzed models
Source: authors ' own work on the basis of Table 2.
To sum up, on the basis of the analysis of the presented approaches to both the definition and the categorization of national intellectual capital it can be said that the notion reflects heterogeneous and complex intangible knowledge-based resources that can constitute both a current and potential source of wealth and advantage over other countries (only if used appropriately).It is composed of intangible resources aggregated within the framework of the components shown in Table 3.
The taxonomy presented above is based on a three-element depiction of national intellectual capital.According to the authors of this paper, it is the most transparent taxonomy, and one which emphasizes detailed, but also crucial, spheres of each country's mode of functioning and resources.In this division, human capital is the most uniform and vital component.Not only does it provide a basis for creating the remaining elements of intellectual capital, but is also indispensable for obtaining benefits from real capital and financial capital.Its defining feature is that it is not in the possession of any country and be 'leased'.Other components reflect the so-called 'non-thinking' part of intellectual capital.They are the result of using knowledge which originates from people.Nevertheless, it must be emphasized that the creation of both present and future national wealth is not determined solely by the possession of particular intangible resources.This is mentioned, e.g., by Bontis, who claims that intellectual capital can be only a potential source of a country's wealth, but its possession does not necessarily guarantee the country's competitive advantage [Bontis, 2004].Also Bal-Woźniak writes that the benefits achieved thanks to the ability to activate the existing intellectual capital and thanks to instruments used to multiply it make possible the accomplishment and 9 Previously, NIC taxonomy was presented by the authors in the paper [Michalczuk, Fiedorczuk, 2017, p. 217].On the basis of further research conducted by the authors, the taxonomy has been modified.reinforcement of competitive advantages [Bal-Woźniak, 2005, p. 157].In practice, this requires proper allocation of capital in material and intangible resources.

Conclusion
Intellectual capital reflects intangible resources, which, if appropriately used, determine the achievement of a certain 'result', e.g.national wealth, global economic growth, present and future well-being, improvement of life quality, increased competitiveness, competitive advantages, or economic growth.Therefore, all countries should strive to enhance their ability to create intellectual capital.It can be accomplished through longterm thinking, readiness to learn, trust towards market mechanisms, and openness to global competition.
Despite the importance of intellectual capital, there is still no universal definition of the notion in macroeconomic perspective.The concept of intellectual capital on a national scale is still being developed through improving the existing definitions.New, interesting definitions of NIC have been created by Bontis and Adriessen, Stam, Lin and Edvinsson, and also by Malhotra.The definitions proposed by these scientists lay particular emphasis on the potential future value that can be obtained from applying knowledge and the intangible character of this capital [Fiedorczuk, Michalczuk, 2016, p. 410].
The definitions developed are divergent in terms of terminology and taxonomy, which no doubt is a result of the individual approaches of particular authors to the understanding of the category of intellectual capital and to a considerable scope for dichotomy.Research into NIC began to distinguish increasingly detailed spheres related to the functioning and resources of nations.This proves the complexity of the category of national intellectual capital and its heterogeneous nature.
Undoubtedly, the development of a universal definition and taxonomy of intellectual capital in a macroeconomic perspective would make it possible to order and classify the dispersed intangible generators of national wealth, of which we are frequently unaware.This is also indispensable from the perspective of proper measurement (quantification) of this capital and its reporting (description)10 .The preparation of reports at the level of countries allows for showing the quality and level of intellectual capital for long-term development and building competitive advantages of countries.The estimation of the state and potential of intellectual capital would provide an opportunity not only for reconsidering the theoretical model of economic growth, but also the essence of the model of socio-economic development [Herman, 2008, p. 40].

The authors' participation in the preparation of the article
Grażyna Michalczuk, PhD, Professor of the University of Bialystok -development of the research concept, carrying out the research, developing results, data collection and literature analysis, preparation of the introductory section (theoretical), formulation of the summary -50% Julita Fiedorczuk, MA -development of the research concept, carrying out the research, developing results, data collection and literature analysis, preparation of the introductory section (theoretical), formulation of the summary -50%

TABLE 2 . Characteristic of the components of national intellectual capital according to various authors
 human capital, i.e. the level of education and schooling of inhabitants and emigrants, living standard, average life expectancy, etc.;  structural capital, including market capital (tourism, honesty level, balance of trade, also regarding intellectual property) and organization capital, i.e. process capital (information regarding entities from services and production sectors, share of public expenses in GDP, business leadership, information technology level, computers connected to LAN network, and renewal capital (expenses on R&D in relation to GDP, number of original start-ups, trademarks, patents, factors important for development of higher education).
 human capital, which comprises non-uniform and non-individual attributes of people that describe the quality and amount of knowledge of both an individual and the community;  structural capital, i.e. institutional knowledge, codified experiences, information which a country can accumulate and which is crucial to national innovative capacities;  relation capital, which denotes knowledge present in global economic relations.This type of capital represents the relationships with foreign partners and governments, as well as the those established as a result of international undertakings.

TABLE 3 . Taxonomy of National Intellectual Capital (NIC) 9
Source: authors' own work.