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Agricultural Capital Revisited

Authors:Donald F. Larson
Non-Bank Author:Rita Butzer, Yair Mundlak
Web Address:Agriculture and Rural Development Research
Topics:Agriculture & Rural Development and Rural Development
Report Number:wps5472

Butzer, Rita, Yair Mundlak and Donald F. Larson “Measures of Fixed Capital in Agriculture”, World Bank Policy Research Working Paper Number 5472, 2010.

Three components of agricultural capital are presented for 30 countries for 1967 to 2000:

  • fixed capital in agriculture,
  • livestock capital, and
  • tree-stock capital.

We construct the fixed-capital series based on national account investment data, using a modification of the perpetual inventory method. The method requires integration of the investment data to obtain capital stocks. For livestock the initial data are the number of animals. We need only calculate the values of the individual herds and then aggregate these values to obtain the total for the full stock of animals. For treestock we use the estimated present value of future income derived from the area planted in orchards.

The original data and methodologies are discussed in:

  • Larson, Donald F., Rita Butzer, Yair Mundlak and Al Crego (2000). “A Cross-Country Database for Sector Investment and Capital.” World Bank Economic Review 14(2), 371-391.  That data can be downloaded here
  • A list of data sources along with a computer program used to calculate the series are documented in Crego, Al, Donald F. Larson, Rita Butzer, and Yair Mundlak. “A New Database on Investment and Capital for Agriculture and Manufacturing.” World Bank Working Paper Number 2013, 1998.
Access to Dataset
  • Agricultural capital database (MS Excel file, 76kb)

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