Several types of economic study rely on estimates of capital stocks employed in production. However, the sophistication of dynamic models and planning techniques is not matched by well-developed sources of capital stock data. The paper presents a method of calculating average sectoral capital...

Urban economists have long sought to explain the relationship between urbanization levels and output. In this paper we revisit this question and test the long run stability of a production function with urbanization using non-stationary panel data techniques. Our results show that a long run...

There is a commonly held notion that higher fixed investment allows one to have it all — a higher labour productivity, a higher wage growth and higher or at least sustained returns on capital. However, experience shows that capital accumulation has led to a decline in total capital...