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Gross capital formation in % of gross domestic product in world economy. Capital formation is a concept used in macroeconomics, national accounts and financial economics. Occasionally it is also used in corporate accounts. It can be defined in three ways:
Gross capital formation in % of gross domestic product in world economy. Gross fixed capital formation (GFCF) is a component of the expenditure on gross domestic product (GDP) that indicates how much of the new value added in an economy is invested rather than consumed.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Map of countries by Gross fixed capital formation (% of GDP), 2023, according to World Bank. This is the list of countries by gross fixed capital formation (GFCP), formerly known as gross fixed investment. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
Attempts have been made to estimate the value of the stock of fixed capital for the whole economy using direct enterprise surveys of "book value", administrative business records, tax assessments, and data on gross fixed capital formation, price inflation and depreciation schedules. A pioneer in this area was the economist Simon Kuznets. [3]
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
The debate concerned the nature and role of capital goods and a critique of the neoclassical vision of aggregate production and distribution. The question of whether the natural growth rate is exogenous, or endogenous to demand (and whether it is input growth that causes output growth, or vice versa), lies at the heart of the debate.
The concept of "gross fixed capital formation" (GFCF) used in official statistics however does not refer to total fixed investment in a country. Firstly GFCF measures only the value of additions to the fixed capital stock less the value of disposals of scrapped fixed assets. So normally total fixed investment in a year is in fact a larger value ...