Research Areas

This working paper presents the main results of the latest estimates (related to investment and capital endowments) for the Spanish economy. The study provides a very long-term overview and in particular focuses on the last cycle of the Spanish economy, analyzing the impact of the crisis over the period 2007-2013 in the trajectories of investment and capital stock. The authors reflect on the prospects for capital stock in Spain and the changes needed so that capital accumulation can contribute to future growth driven by productivity gains.

In addition the series of wealth capital and productive capital (or volume indices of capital services) were updated in 2015. The national series, corresponding to the period 1964-2013, presents a disaggregation of 18 types of assets for each of the 31 industries considered (CNAE 2009). The disaggregation allows two assets of particular importance to be analyzed: infrastructures and assets associated with new technologies (hardware, software and telecommunications), as well as the distinction between tangible and intangible assets. The territorial series covers the period 1964-2012. In this case, information is available for 18 types of assets and by industries: 25 for the autonomous communities and 15 for the provinces.