Impedance spectroscopy studies performed for intercalated multilayer structures of the type of a layered inorganic semiconductor (InSe)/conducting polymer (PEDOT:PSS) revealed low-frequency inductive response and the growth of dielectric permeability in megahertz region together with the decrease of dielectric loss angle down to one as a consequence of the conducting polymer intercalation into semi-conducting layers. A model describing the unusual currentevoltage characteristic is proposed. (C) 2011 Elsevier B.V. All rights reserved.