KapitalstockzuArbeitskraftVerhältnis

Kapitalstockzuwachs, or capital stock growth, refers to the change in the total stock of physical capital—such as factories, machinery, roads, and buildings—in an economy over a given period. It results from gross investment adding to the existing capital stock, offset by depreciation and obsolescence. The concept is central to understanding changes in an economy’s productive capacity and potential output.

In macroeconomic terms, the capital stock is often denoted by K, and its evolution can be expressed in a perpetual inventory framework. A common discrete-time formulation is K_{t+1} = (1 − δ)K_t + I_t, where δ is the depreciation rate and I_t is gross investment. Net investment equals I_t − δK_t. If net investment is positive, the capital stock grows; if negative, it declines. Investment decisions, depreciation, and asset quality all influence the path of K.

Determinants of capital stock growth include saving behavior and investment, the rate at which capital depreciates, and the pace of technological progress that affects the productivity of capital services. In growth models such as the Solow framework, population growth and the saving rate determine the steady-state level of capital per worker and long-run output. Capital stock growth can drive higher potential output and labor productivity, especially when investment increases capital per worker (capital deepening).

Measurement of capital stock faces challenges, including varying depreciation schedules, asset quality, and data quality. Statistical agencies often use the perpetual inventory method, combining investment data with assumed depreciation to estimate the capital stock over time. Limitations of the concept include its abstraction from distributional effects and the efficiency with which capital is mobilized, which also shape the real impact of capital stock growth.