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A Cross-Country Database for Sector Investment and Capital

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  • Larson, David F.
  • Butzer, Rita
  • Mundlak, Yair
  • Crego, Al

Abstract

This article presents a new database of investment and capital in agriculture, manufacturing, and the overall economy. It covers 62 industrial and developing countries for the years 1967-92. A common method is used in the calculations to facilitate comparisons across countries and sectors. The sensitivity of the calculations to choices of parameters and estimation methods is tested. Collectively, the data show that as economies grow, capital stocks accumulate, but the composition of capital changes. Together and individually, capital stocks in agriculture and manufacturing constitute a smaller share of the total capital stock than they did 20 years ago. Capital-labor ratios show that agriculture has become more capital intensive in most countries. The composition of agricultural capital has changed as well; capital from investments in orchards and livestock has declined relative to capital from fixed investments in machinery, irrigation, and buildings. Copyright 2000 by Oxford University Press.

Suggested Citation

  • Larson, David F. & Butzer, Rita & Mundlak, Yair & Crego, Al, 2000. "A Cross-Country Database for Sector Investment and Capital," The World Bank Economic Review, World Bank, vol. 14(2), pages 371-391, May.
    • Handle: RePEc:oup:wbecrv:v:14:y:2000:i:2:p:371-91
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    1. Crego, Al & Larson, Donald & Butzer, Rita & Mundlak, Yair, 1998. "A new database on investment and capital for agriculture and manufacturing," Policy Research Working Paper Series 2013, The World Bank.
    2. Martin, Will & Mitra, Devashish, 1999. "Productivity growth and convergence in agriculture and manufacturing," Policy Research Working Paper Series 2171, The World Bank.
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    5. Yair Mundlak & Donald Larson & Al Crego, 1998. "Agricultural Development: Issues, Evidence and Consequences," International Economic Association Series, in: Yair Mundlak (ed.), Contemporary Economic Issues, chapter 8, pages 149-172, Palgrave Macmillan.
    6. V.E. Ball & J.C. Bureau & J.P. Butault & H.P. Witzke, 1993. "The stock of capital in European Community agriculture," Post-Print hal-01072680, HAL.
    7. Mundlak, Yair & Larson, Don & Butzer, Ritz, 1997. "The determinants of agricultural production : a cross-country analysis," Policy Research Working Paper Series 1827, The World Bank.
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    9. Ball, V Eldon, et al, 1993. "The Stock of Capital in European Community Agriculture," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 20(4), pages 437-450.
    10. Yair Mundlak & Donald F. Larson & Rita Butzer, 1999. "Rethinking Within and Between Regressions: The Case of Agricultural Production Functions," Annals of Economics and Statistics, GENES, issue 55-56, pages 475-501.
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