As a continuation of the research line on
Capital stock conducted by the Ivie in collaboration with the BBVA Foundation, the database
El stock y los servicios del capital en España y su distribución territorial has been updated in 2009, providing information on the accumulation of capital over the last four decades.
The database allows the national series to be consulted from 1964 to 2007, as well as data by autonomous communities and provinces until 2006. The information updates the estimations on the productive contribution of capital, and details the assets which have been invested in. To this end, net capital stock has been evaluated and measured as accumulated wealth, along with the productive services which generate capital; that is, productive capital.
This
extensive database, which the BBVA Foundation and the Ivie have made available to the public, is accompanied by numerous dynamic graphs that facilitate the analysis of the evolution and composition of capital endowments in Spain and its territories.
Structure of the database
The database series covers three variables: investment, capital stock and capital services.
At a national level, 18 different asset types and 43 industries were considered, including ten industries corresponding to public and private infrastructures. Public infrastructures have been retained in asset breakdown (which was a distinctive characteristic of the previous BBVA Foundation-Ivie series), and three new information and communication technology (ITC) assets are now included: software, hardware and communications.
In addition, there are data by autonomous communities and provinces with disaggregation in 18 types of assets.
The database is structured as follows:
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Disaggregation by areas of activity:
- Agriculture, stockbreeding, hunting and forestry
- Fishing
- Extraction or mining of energy producing materials
- Extraction or mining of other minerals
- Food, beverage and tobacco industry
- Textile and clothing industry
- Leather and footwear industry
- Wood and cork industry
- Paper, printing and graphic arts industry
- Coke plants, refining and nuclear fuels
- Chemical industry
- Rubber and plastic materials industry
- Other non-metallic mineral products
- Metals and metal products
- Mechanical machinery and equipment
- Electronic, electrical and optical equipment
- Transport material manufacture
- Diverse manufacturing industries
- Electrical energy, gas and water
- Construction
- Wholesale and retail trade and repairs
- Hotels and restaurants
- Transport and communications. Toll motorways
- Transport and communications. Railways (RENFE, FEVE, etc.)
- Transport and communications. Airports (AENA)
- Transport and communications. State ports
- Transport and communications. Other transport and communications
- Financial intermediation
- Property development activities
- Company services
- Other public services. Roads
- Other public services. Water
- Other public services. Railways
- Other public services. Airports
- Other public services. Ports
- Other public services. Urban infrastructure
- Other public services. Public education
- Other public services. Public health
- Other public services. Public social services
- Other public services
- Private education
- Private health and social services
- Other social activities and services
-
Disaggregation by activity type:
- Housing
- Other constructions
- Road infrastructures
- Public water infrastructures
- Rail infrastructures
- Airport infrastructures
- Port infrastructures
- Local corporation urban infrastructures
- Other constructions not elsewhere classified
- Transport
- Motor vehicles
- Other transport material
- Machinery, equipment material and other products
- Agricultural, stockbreeding and fishing products
- Metals and machinery products
- Metal products
- Machinery and mechanical equipment
- Office machinery and IT equipment
- Other machinery and equipment
- Communications
- Other machinery and equipment not elsewhere classified
- Other products
- Software
- Other products not elsewhere classified
-
Magnitudes:
- Gross fixed capital formation
- Gross capital stock
- Net capital stock (wealth)
- Productive capital stock
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Geographical disaggregation:
- 17 autonomous regions
- 2 autonomous cities
- 50 provinces
-
Period considered:
- 1964-2005 for Spanish aggregate
- 1964-2004 for geographical distribution
-
Units:
- Millions of current euros
- Millions of constant euros base year 2000
The new methodology
The main difference from the previous estimation procedure (2003) lies in the recognition that net capital endowments are unsatisfactory indicators of the contribution made by capital stock to
output growth and productivity in the economy. The new methodology recognises three different types of capital stock: gross, net (wealth) and productive (capital services). The latter is suitable for productivity studies, while gross and net capital stock is more appropriate measures of the endowments in the economy from the perspective of the value of available wealth.
The new approach also underlines the importance of the concept of
homogenous assets. This shift of emphasis, from sectors or functions to assets, has involved a major overhaul of the statistical data, since the gross fixed capital formation series by asset type were previously unavailable. The limitations of the available statistics spurred the initiation of this new phase of the FBBVA-Ivie project to estimate only national series, published in
El stock y los servicios del capital en España (1964-2002). Nueva metodologia, where a detailed presentation of the applied new methodology can be found.
After this first objective was successfully completed, the 2006 publication then updated the results already obtained from 2003. It incorporated the first estimation of the territorial distribution by autonomous communities and provinces on the basis of the OECD's new focus, as did the 2007 publication. The new updated 2009 version follows the format, with data covering the period 1964-2007 and includes a territorial breakdown for 1964-2004.
Capital stock in Spain and its distribution by territories (1964-2002). Previous methodology
