A Compositional Statistical Analysis of Capital per Worker
Most of economic literature has presented its analysis under the assumption of homogeneous capital stock composition. However, capital composition differs across countries. What has been the pattern of capital composition associated with World economies? I make an exploratory statistical analysis based on the Aitchinson logratio transformations and the related tools for visualizing and measuring statistical estimators of association among the components. As initial findings could be cited that: 1. It is observed a clear correlation in terms of capital stock participation between two building-industry- related components, 2. Manufacturing behaves differently, especially durable goods sector. 3. There are differences among subsamples.
|Date of creation:||18 Jan 2003|
|Date of revision:|
|Note:||Type of Document - Acrobat PDF; prepared on IBM PC; to print on HP; pages: 24 ; figures: included. 24 pages, postscript, prepared from MS Word - figures prepared from MS Excel|
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- J. Bradford De Long & Lawrence H. Summers, 1990.
"Equipment Investment and Economic Growth,"
NBER Working Papers
3515, National Bureau of Economic Research, Inc.
- J. Aitchison & Michael Greenacre, 2001.
"Biplots of compositional data,"
Economics Working Papers
557, Department of Economics and Business, Universitat Pompeu Fabra.
- Canning, David & Bennathan, Esra, 2000. "The social rate of return on infrastructure investments," Policy Research Working Paper Series 2390, The World Bank.
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