Developments in Fixed Capital Stock: 1960-1995

CONTENTS 1. Introduction 2. Measurement and methodology 2.1 The definition of fixed capital stock 2.2 The perpetual inventory method 2.3 The lifetime and age of capital stock 3. Privatisation and the institutional classification of capital stock 4. Growth in real fixed capital stock 5. The composition of fixed capital stock 5.1 Fixed capital stock by kind of economic activity 5.2 Fixed capital stock by kind of asset 6. The efficiency of fixed investment 7. Summary and conclusions 8. Bibliography Table 1-The economic lifetime according to type of asset. Table 2-Growth in total real fixed capital stock by kind of economic activity. Table 3-The composition of total fixed capital stock by kind of economic activity. Table 4-The composition of total fixed capital stock by type of asset. Table 5-The incremental capital-output ratio for South Africa and some East Asian countries. Table 6-The capital-output ratio by kind of economic activity. Graph 1-Fixed capital stock of machinery and equipment with economic lifetimes of 5 and 8 years. Graph 2-Gross and net fixed capital stock of machinery and equipment with a lifetime of 8 years. Graph 3-Age of real fixed capital stock and gross fixed investment in machinery and equipment by private manufacturing. Graph 4-The relative user cost of capital in the manufacturing sector. Graph 5-Growth in total real gross domestic product and aggregate real fixed capital stock. Graph 6-Average capital-output ratio per sector. Graph 7-The capital-output ratios for the private sector and parastatals. Graph 8-Potential real gross domestic product.