Net Capital Stock for Costa Rica: Compilation Process and Results

Allison Pierce (), Gabriela Saborío-Muñoz (), Adriana Sandí-Esquivel () and Martha Tobar ()
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Allison Pierce: Department of Data Collection and Cleaning, Division of Data Analysis and Statistics, Central Bank of Costa Rica
Gabriela Saborío-Muñoz: Department of Data Collection and Cleaning, Division of Data Analysis and Statistics, Central Bank of Costa Rica
Martha Tobar: Central America, Panama and the Dominican Republic Regional Technical Assistance Center, CAPTAC DR

No 2603, Notas Técnicas from Banco Central de Costa Rica

Abstract: The estimation of fixed capital stock and consumption of fixed capital continues to pose challenges for many countries due to the limited availability of asset prices, depreciation profiles, and information on service lives. To address these constraints and to strengthen the measurement of net value added, income, and saving, the Data Analysis and Statistics Division of the Central Bank of Costa Rica conducted a methodological review of the compilation practices for non‑financial asset balances. This effort extended the national sequence of accounts for the 2022 reference year and introduced improvements consistent with a geometric approach to the measurement of consumption of fixed capital. The study applies the Perpetual Inventory Method for each category of non‑financial assets defined in the System of National Accounts, with specific adjustments for dwellings and cultivated biological resources. Service lives were determined based on official depreciation rates issued by the Ministry of Finance and empirical evidence from the Central Bank’s Survey on Investment and Sales of Non‑Financial Fixed Capital. The analysis also provides an economy‑wide consistency assessment across asset types and institutional sectors. The methodological approach follows the standards set out in the OECD Capital Measurement Manual 2009 and the System of National Accounts 2025. ***Resumen: La estimación del acervo de capital fijo y de los flujos de consumo presenta retos para muchos países debido a la limitada información disponible sobre precios, perfiles de activos y vidas útiles. Con el fin de fortalecer la medición de variables netas como valor agregado, ingreso y ahorro, la División de Análisis de Datos y Estadísticas del Banco Central de Costa Rica revisó y actualizó las metodologías utilizadas para los balances de activos no financieros, al ampliar la secuencia de cuentas del país (año base 2022) y el aumento en la calidad de las estimaciones mediante una función geométrica. El estudio aplica el Método de Inventario Permanente por tipo de activo, con ajustes para viviendas y recursos biológicos. Las vidas útiles se definieron a partir de tasas de depreciación oficiales del Ministerio de Hacienda y de la Encuesta de Inversión y Venta de Capital Fijo No Financiero del Banco Central de Costa Rica. Además, incluye la verificación de coherencia de los resultados por activo y por sector institucional. El marco conceptual sigue las recomendaciones del Manual de Medición del Capital de la OCDE 2009 y del Sistema de Cuentas Nacionales 2025.

Keywords: Capital stock; Depreciation; Perpetual Inventory Method; Acervo de capital; Depreciación; Método de inventario Permanente (search for similar items in EconPapers)
JEL-codes: C82 E01 E22 O11 O47 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2026-04
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