Measurement of Capital Stock: The PIM and the Equivalent Proportional Depreciation Approach

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Measurement of Capital Stock: The PIM and the Equivalent Proportional Depreciation Approach

Author Info

Madhusudan Datta (Department of Economics, University of Kalyani, West Bengal, India)

Abstract

Estimation of capital stock appropriate for productivity analyses is a tricky problem. PIM can at best be considered a passable estimate of the asset value of capital goods or the wealth stock. An alternative to the PIM is the OHSM. For a uniform exponential growth of investment there exist equivalent proportional rates of depreciation (EPD) of capital stock for both the OHSM and the PIM. Use of the formulae for EPD can help in obtaining acceptable estimates of capital stock using data on gross fixed capital formation when estimates are not available from authentic sources. Moreover, EPD can be derived by using suitable assumptions to estimate service capital appropriate for use as an argument of the production function.

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Publisher Info
Article provided by Department of Economics, Delhi School of Economics in its journal Indian Economic Review.

Volume (Year): 41 (2006)
Issue (Month): 2 (December)
Pages: 173-194
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Handle: RePEc:dse:indecr:v:41:y:2006:i:2:p:173-194

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Find related papers by JEL classification:
C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Microeconomic Data
C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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