Abstract
There is an overwhelming weight of evidence that suggests that advanced economies have witnessed a significant but largely undetected shift in the mode of wealth creation in recent decades. The principal source of economic value and wealth is no longer in the production of material goods, but lies in the creation, acquisition and exploitation of intellectual capital. Despite many years of serious debate, our present economic and accounting models have not met the increasing demands of the world we live today. In spite of the importance of intellectual capital, competitive success today requires the capacity to develop, manage, measure, and report the flow of knowledge and intangibles. The limitations of the existing systems for capital markets and other stakeholders have initiated an evolving dialogue on finding new ways to measure and report intellectual capital. This thesis aims to place a comparative study between four Nordic countries to congregate the piloting experience of these nations in terms of measuring and reporting intellectual capital. Based on the last criteria, the lessons learned on their experience and evidence in intellectual capital have draw a list of major implications to developing countries, specifically to Panama to foreseen economic development and wealth creation.

Keywords: Intellectual Capital, Measuring and Reporting, Comparative Study, Developing Countries, Panama.

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