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Capital Accumulation In Latin America: A Six Country Comparison For 1950–89

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  • André A. Hofman

Abstract

This article provides estimates of gross and net fixed capital stock for six Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela for 1950–89. The capital stocks have been generated using the perpetual inventory method. To use the perpetual inventory method, historical time series of gross fixed investment, broken down into machinery and equipment, residential and non‐residential structures were estimated. The diskette accompanying the article contains a detailed description of the sources and series used and for each country, long‐term series (1900–89) of GDP at constant 1980 national prices, GDP at constant 1980 international dollars, population, GDP per capita and gross total and disaggregated investment in national currencies and as a percentage of GDP. The diskette also contains a complete set of net and gross capital stock estimates, average ages, average service life and capital‐output ratios for 1950–89 each in national currencies and international dollars. The findings show rising capital‐output ratios in most countries, except for Chile, where it remains more or less constant, and Colombia, where the ratio falls.

Suggested Citation

  • André A. Hofman, 1992. "Capital Accumulation In Latin America: A Six Country Comparison For 1950–89," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 38(4), pages 365-401, December.
    • Handle: RePEc:bla:revinw:v:38:y:1992:i:4:p:365-401
    DOI: 10.1111/j.1475-4991.1992.tb00451.x
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    Cited by:

    1. Dias, Victor Pina & Oliveira, Érica Diniz & Issler, João Victor & Rachter, Laísa, 2019. "Non-Durable Consumption and Real-Estate Prices in Brazil: Panel-Data Analysis at the State Level," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 73(3), September.
    2. Nelson H. Barbosa Filho, 2005. "Estimating Potential Output : a Survey of the Alternative Methods and their Applications to Brazil," Discussion Papers 1092, Instituto de Pesquisa Econômica Aplicada - IPEA.
    3. Pablo Cotler, 2000. "Growth and Macroeconomic Fluctuations: The Case of Latin America," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(1), pages 41-59, January-J.
    4. Farla, Kristine & de Crombrugghe, Denis & Verspagen, Bart, 2016. "Institutions, Foreign Direct Investment, and Domestic Investment: Crowding Out or Crowding In?," World Development, Elsevier, vol. 88(C), pages 1-9.
    5. Qi DONG & Tomoaki MURAKAMI & Yasuhiro NAKASHIMA, 2018. "Estimating China’S Agricultural Capital Stock From 1952 To 2012," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 18(2), pages 53-70.
    6. van den Berg, Hendrik, 1997. "The relationship between international trade and economic growth in Mexico," The North American Journal of Economics and Finance, Elsevier, vol. 8(1), pages 1-21.
    7. Elio Londero, 2001. "The alleged countercyclical nature of Argentina's exports of manufactures," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 10(2), pages 151-173.
    8. Passas, Costas, 2023. "Standardized capital stock estimates for the Greek economy 1948–2020," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 236-244.
    9. Carlos E. Zarazaga, 2007. "The role of total factor productivity in 'Phoenix Miracles' : insights from an emerging market crisis," Working Papers 0605, Federal Reserve Bank of Dallas.

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