Abstract
This chapter examines the notion of national intellectual capital, which could bring new insights to the existing national science and technology policy thinking. This notion leads that the chapter proposes a framework to measure national intellectual capital, and the investigation based on the framework was applied in Panama. The results revealed that the Panamanian intellectual capital faces the decreasing supply of human capital in S&T field, the service-dominant market capital, weaker and less indigenous innovation capital, and a steady increase of process capital. Some intellectual capital policy implications are drawn for Panama and other developing countries