kapitalstockens

Kapitalstockens, a Swedish term commonly rendered as capital stock, refers to the total stock of tangible, produced assets that are used in the production of goods and services in an economy. This includes buildings, structures, machinery and equipment, vehicles, and infrastructure that are expected to provide services over several years.

It is measured in national accounts as the gross capital stock and the net capital stock. Gross capital stock sums all past investments, while net capital stock accounts for depreciation, or the consumption of fixed capital, leaving the depreciated value available for future production. Assets are typically classified into dwellings, non-residential structures, and equipment, with infrastructure and intellectual property products often included in modern accounts. Valuation is usually at replacement cost or current prices, and is updated through the perpetual inventory method using data on investment and depreciation rates.

Capital stock changes with gross fixed capital formation (investment), disposals, obsolescence, and maintenance. High investment can raise the capital stock and, over time, potential output and productivity, while aging or inefficient stock increases maintenance costs. The capital stock per worker, or capital deepening, is a key determinant of long-run economic growth in many growth accounting frameworks, such as the Solow model, where capital accumulates from investment against depreciation.

Practical use and challenges: statisticians estimate the capital stock to assess productive capacity, inform policy, and compare among countries. Estimates depend on methodological choices about depreciation, asset lives, and valuation, which can differ across data sources.