Pääomakannan

Pääomakanta, or capital stock, is the total value of durable physical assets that contribute to production at a given time. It represents the stock of capital built up through past investments and is reduced by depreciation, wear, and obsolescence. In practice, it includes fixed assets such as buildings, machinery, equipment, vehicles, and infrastructure that are owned by an economy, a company, or a government and are expected to yield production over several years. Land is typically not counted as part of the depreciating capital stock.

Capital stock is estimated and tracked over time using methods like the perpetual inventory method. Investments add to the stock, while depreciation lowers it. Measurements may be expressed in current or constant prices, and can be based on gross or net values, depending on whether depreciation is accounted for. Data are usually published in national accounts and corporate financial statements, and may be broken down by sector or asset type. In some approaches, intangible assets such as software and patents are analyzed separately from tangible fixed assets.

The concept is used to assess productive capacity and long-term growth. Key applications include evaluating the capital–output ratio, planning investment needs, and informing macroeconomic and policy analysis. The size and composition of the capital stock influence productivity, depreciation, and future economic performance, making accurate measurement important for economists, policymakers, and analysts.

In Finland, institutions such as Statistics Finland publish capital stock data as part of the System of National Accounts, supporting sectoral and time-series analysis of the economy.