This report presents the main results of the latest estimates — relating to investment and capital endowments — for the Spanish economy, developed jointly by the Ivie and the BBVA Foundation. The data covers the period 1964-2014 using the most up-to-date methodology proposed by the OECD and the European System of National and Regional Accounts (ESA 2010), and is widely disaggregated by assets (including R&D), sectors, regions and provinces.

The richness of the database offered enables to study the characteristics of capitalization from many points of view and makes the estimates a basic tool for the study of the sources of growth in Spain. The report analyzes the evolution of the investment and capital stock trajectories throughout the present century and in a longer term context, while also examining the productivity of capital from an international comparative perspective. The authors reflect on the prospects for capital stock in Spain and the changes needed so that capital accumulation, driven by productivity gains, can contribute to growth in the future.

Presentation of thereport