El stock de capital en España y sus comunidades autónomas (1995-2024)

The aim of this monograph is to analyze the evolution of investment and capital accumulation in Spain over the last three decades. It examines changes in the composition of both variables from different standpoints: by reference to assets, branches of activity, private and public ownership and territorial units. These are key dimensions for understanding the dynamics of accumulation processes and the role of capital goods in growth, whose analysis is facilitated by the richness of the database whiaccompanying the publication which follows the main methodological recommendations accepted internationally.

The book pays particular attention to the last few years, notably the effects on capital accumulation of such headline events as the COVID-19 crisis and subsequent recovery. It also features a detailed analysis of the situation of each Spanish region and province and its recent evolution in terms of capital accumulation and key macroeconomic variables.

It also also estimates the utilization rate of installed capital. Although this is the first time this parameter has been explored with the capital stock data contained in the BBVA Foundation–Ivie database, it stands as a complementary analysis bearing in mind that what matters is not just the accumulation of capital assets but their use or exploitation and the corresponding impact on efficiency. This is a perspective generally omitted from standard analyses of growth and productivity, but which deserves closer attention given its effects on the cycle.

The book provides researchers, politicians, social agents and the interested public with useful, timely and accurate information on the stock of capital, one of the fundamental drivers of economic growth.