A new global database on agriculture investment and capital stock. (April 2021)

• Record Type: Journal Article
• Authors: Vander Donckt, Marie; Chan, Philip; Silvestrini, Andrea
• Is Part Of: Food policy. Volume 100(2021)
• Publication Date: 2021-04
• Subjects: Agriculture -- Gross fixed capital formation -- Capital stock -- Perpetual inventory method -- Missing observations; Food supply -- Periodicals; Food security -- Periodicals; Food -- Quality -- Periodicals; Food Supply -- Periodicals; Alimentation -- Périodiques; Electronic journals; 338.1905
• DOI: 10.1016/j.foodpol.2020.101961
• Languages: English
• ISSNs: 0306-9192

Abstract

Highlights: We present a new analytical database on aggregate investment and capital stock in agriculture. It covers 189 countries and territories over the period 1995–2017. Different econometric methods are applied depending on the degree of data missingness. The perpetual inventory method is used for capital stock estimation. An overview of the main global and regional trends in agricultural investment and capital stock is offered. Abstract: This paper introduces a new analytical database on aggregate physical investment flows and capital stock in agriculture, forestry and fishing for 189 countries and territories over the period 1995–2017. Long time series of the agricultural investment-to-value added ratio are employed to obtain agricultural investment flows. These latter are subsequently converted into capital stock series, by applying a variant of the perpetual inventory method. This article describes the database content and the data sources, the methodology used to deal with missing data in the investment-to-value added ratio as well as several measurement issues underlying its development. Lastly, it presents an overview of the main global and regional trends in agricultural gross fixed capital formation and capital stock, drawing some implications and directions for future research.