El stock de capital en España y sus comunidades autónomasAjuste de la inversión pública y reducción del déficit
- Francisco Pérez García
- Matilde Mas Ivars
- Eva Benages Candau
- Juan Carlos Robledo Domínguez
- Iván Vicente Carrión
Année de publication: 2020
Número: 1
Type: Working Paper
Résumé
This document presents the main results of the latest investment and capital stock estimates for fhe Spanish economy, developed jointíy by the Ivie and the BBVA Foundation in 2019. The data has been updated to cover the period 1964-2017 with a broad breakdown by assets (intangible and tangible), sectors, regióos and provinces. Tbe richness of the datábase enables the characteristics of capitalization to be studied írom múltiple angles, making these estímales m essential tool for the study ofthe sources of growth in Spain. The paper analyzes fhe evolution of public investment and capital stock at national level since fhe onset ofthe crisis. Although the sharp decline in public investment has significantly reduced the public déficit, it has also reduced infrastructure stock aad increased its aging. The study analyzes to what extent public inírastmcture seryices have been adequately provided according to the evolution of their demand, as well as the consequences fhat a long-continued severe adjustment of investment would have over the next decade.