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Capital in Spain, 1850-2019

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dc.affiliation.institutoUC3M. Instituto Figuerola de Historia y Ciencias Socialeses
dc.contributor.authorPrados de la Escosura, Leandro
dc.contributor.editorUniversidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Socialeses
dc.date.accessioned2020-11-23T17:15:26Z
dc.date.available2020-11-23T17:15:26Z
dc.date.issued2020-11-23
dc.description.abstractThe rising trend in the capital-output ratio and the productivity slowdown have put capital back in the economist's agenda. This paper contributes to the debate by providing new estimates of net capital stock and services for Spain over the last 170 years. The net capital (wealth) stock-GDP ratio rose over time and doubled in the last half-a-century. Capital services grew fast over the long-run accelerating in the 1920s and from the mid-1950s to 2007. Until 1975 its acceleration was helped by an increase in the 'quality' of capital. Capital deepening proceeded steadily, accelerating during 1955-1985, and slowing down thereafter for expanding sectors attracted less investment-specific technological progress. Although capital consumption rose over time, the rate of depreciation fell from 1970 to 2007 as new capital goods' relative prices declined due to embodied technological change.en
dc.description.sponsorshipA research grant from Fundación Rafael del Pino is gratefully acknowledgeden
dc.identifier.issn2341-2542
dc.identifier.urihttps://hdl.handle.net/10016/31464
dc.identifier.uxxiDT/0000001852
dc.language.isoeng
dc.relation.ispartofseriesWorking Papers in Economic Historyen
dc.relation.ispartofseries20-09
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/*
dc.subject.jelD24
dc.subject.jelE01
dc.subject.jelE22
dc.subject.jelN33
dc.subject.jelN34
dc.subject.otherCapital Stock And Servicesen
dc.subject.otherCapital Deepeningen
dc.subject.otherCapital-Output Ratioen
dc.subject.otherSpainen
dc.titleCapital in Spain, 1850-2019en
dc.typeworking paper*
dspace.entity.typePublication
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