Capital formation and capital stock in Indonesia, 1950-2008

Pierre van der Eng

Bulletin of Indonesian Economic Studies, 2009, vol. 45, issue 3, 345-371

Abstract: This article presents long-term estimates of gross fixed capital formation, disaggregated by category of productive assets, for the period 1951-2008. These data, combined with approximations of probable average asset lives and a plausible asset retirement procedure, are used in a perpetual inventory method framework to estimate gross fixed capital stock in Indonesia for the years 1950-2008, disaggregated by productive asset category. Total capital stock grew significantly from the late 1960s, at about 10% per year, until the 1997-98 economic crisis. The high capital-output ratio in 1997 suggests that a significant part of Indonesia's rapid economic growth during the 1990s was due to capital accumulation.

Date: 2009
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DOI: 10.1080/00074910903301662

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Bulletin of Indonesian Economic Studies is currently edited by Firman Witoelar Kartaadipoetra, Arianto Patunru, Robert Sparrow, Sarah Xue Dong and Sean Muir

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