datasets: 5002
Data license: CC-BY
This data as json
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| 5002 | Macro-Statistics: Capital Stock | As part of the FAO Agriculture Capital Stock (ACS) database, ESS-FAO publishes country-by-country data on physical investment in agriculture, forestry and fishing as measured by the System of National Accounts (SNA) concept of Gross Fixed Capital Formation (GFCF). Additional variables included in the ACS are Net and Gross Capital Stock, Consumption of Fixed Capital, the Agriculture Investment ratio, and the Gross Fixed Capital Formation Agriculture Orientation Index. The FAO Agriculture Capital Stock Database is an analytical database: whenever available, the database integrates official National Accounts data harvested from the UNSD National Accounts Main Aggregates Database (UNSD AMA) and the OECD Annual National Accounts Database (OECD ANA). If the full set of official data is not available for any specific country, imputation methods are applied to obtain estimates over the complete time series. Many data points in ACS are estimated and are flagged as such; they do not represent official Member countries' submissions. With a view of producing internationally comparable net capital stock estimates, we employ the Perpetual Inventory Method (PIM) with a time invariant geometric depreciation rate to impute missing data. The Perpetual Inventory Method is a well-established economic model to calculate Net Capital Stocks (NCS) and Consumption of Fixed Capital (CFC) from time series of Gross Fixed Capital Formation (GFCF). Specifically, annual measures of the NCS are obtained from cumulating historical series on physical investment flows and deducting the part of assets that are depreciated (the Consumption of Fixed Capital that occurs in every period). In order to implement the PIM, long time series on aggregate GFCF in agriculture, forestry and fishing is required. As much as possible, we rely on National Accounts data published by the OECD and UNSD. When country data are partially or fully missing, we employ econometric techniques to impute missing observations. Depending on the pattern of data missingness for the countries, different imputation methods are applied (selected from the ARMAX, PANEL and OLS classes of econometric models). Working with the above-mentioned data sources, we can rely on country data - though very incomplete in some cases - on agriculture GFCF, CFC and/or NCS for 103 countries to guide us in our data gap filling exercise. For the other 104 countries included in the database, we fully rely on imputation methods. For a detailed description of the imputation methods and our PIM framework, refer to box 20.5. All data series in the database are provided both in national currencies and in US dollars as well as in current prices and constant prices with base year 2010. Calculation of constant price series is done applying GFCF deflator series. When OECD National Accounts data are available, an OECD implicit deflator for agriculture GFCF is calculated and used. For other cases, the implicit deflators on GFCF for total economy available from the FAOSTAT Deflators database is used. | 2020-02-14 01:33:08 | 2020-02-14 01:33:08 | faostat_2020 | 0 | 29 | 2020-02-14 01:33:08 | 29 | 2020-02-14 01:33:08 | 29 | 0 | 1 |