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Capital formation and capital stock in Indonesia, 1950-2008

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  • Pierre van der Eng

Abstract

This article presents long-term estimates of gross fixed capital formation, disaggregated by category of productive assets, for the period 1951-2008. These data, combined with approximations of probable average asset lives and a plausible asset retirement procedure, are used in a perpetual inventory method framework to estimate gross fixed capital stock in Indonesia for the years 1950-2008, disaggregated by productive asset category. Total capital stock grew significantly from the late 1960s, at about 10% per year, until the 1997-98 economic crisis. The high capital-output ratio in 1997 suggests that a significant part of Indonesia's rapid economic growth during the 1990s was due to capital accumulation.

Suggested Citation

  • Pierre van der Eng, 2009. "Capital formation and capital stock in Indonesia, 1950-2008," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 45(3), pages 345-371.
    • Handle: RePEc:taf:bindes:v:45:y:2009:i:3:p:345-371
    DOI: 10.1080/00074910903301662
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    1. Prados de la Escosura, Leandro & Rosés, Joan R., 2008. "Long-run Estimates of Physical Capital in Spain, 1850-2000," IFCS - Working Papers in Economic History.WH wp08-07, Universidad Carlos III de Madrid. Instituto Figuerola.
    2. Maddison, Angus, 2007. "Contours of the World Economy 1-2030 AD: Essays in Macro-Economic History," OUP Catalogue, Oxford University Press, number 9780199227204.
    3. Pierre van der Eng, 2008. "The sources of long-term economic growth in Indonesia, 1880-2007," ANU Working Papers in Economics and Econometrics 2008-499, Australian National University, College of Business and Economics, School of Economics.
    4. Angus Maddison, 1995. "Explaining The Economic Performance Of Nations," Books, Edward Elgar Publishing, number 294.
    5. Pierre van der Eng, 2008. "Capital Formation and Capital Stock in Indonesia, 1950-2007," Departmental Working Papers 2008-24, The Australian National University, Arndt-Corden Department of Economics.
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    1. Kelfala M. Kallon, 2013. "Growth Empirics: Evidence from Sierra Leone," African Development Review, African Development Bank, vol. 25(2), pages 215-230, June.
    2. Isiaq O. Oseni & Ibrahim A. Adekunle, 2020. "Relevance of Wagner’s Hypothesis in Achieving Sustainable Development Agenda in Nigeria," Research Africa Network Working Papers 20/006, Research Africa Network (RAN).
    3. van der Eng, Pierre, 2010. "The sources of long-term economic growth in Indonesia, 1880-2008," Explorations in Economic History, Elsevier, vol. 47(3), pages 294-309, July.
    4. Mitsuhiko Kataoka, 2013. "Capital Stock Estimates by Province and Interprovincial Distribution in Indonesia," Asian Economic Journal, East Asian Economic Association, vol. 27(4), pages 409-428, December.
    5. Musliudeen Adewale Balogun & Sheriffdeen Adewale Tella & Oluwaseyi Adedayo Adelowokan & Jimoh Sina Ogede & Soliu Bidemi Adegboyega, 2024. "Achieving sustainable development in ECOWAS countries: the impact of trade openness, poverty and human capital," Future Business Journal, Springer, vol. 10(1), pages 1-18, December.
    6. Isiaq O. Oseni & Ibrahim A. Adekunle, 2020. "Relevance of Wagner’s Hypothesis in Achieving Sustainable Development Agenda in Nigeria," Working Papers of the African Governance and Development Institute. 20/006, African Governance and Development Institute..
    7. Ian Coxhead & Rashesh Shrestha, 2016. "Could a Resource Export Boom Reduce Workers’ Earnings? The Labour-Market Channel in Indonesia," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 52(2), pages 185-208, May.

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