Roy, Arijit creator text The Indian Journal of Economis monographic eng

print

99(394), Jan, 2019: p. 327-376 It is not an easy task to measure capital since two district but interlinked concepts of capital exist. One is capital as stock of wealth’ which is the net fixed capital stock (NFCS). But if conceived as an argument in the production function, the proper measure of capital should be ‘capital service’. It should be the services’ delivered by the ‘stock that should constitute the appropriate measure of capital impute in production. Measuring capital services needs derivation of a hypothetical stock the productive stock. In the context of the Indian economy, several studies have been carried out only to derive the NFCS. But there is no viable attempt to measure productive stock and capital services till now. The OECD alternative Perpetual Inventory method (PIM) is an regard. We have established this by applying the OECD alternative PIM to construct the series for NFCS and the productive stock of capital or the Indian economy .- Reproduced Capital market, Productive stock The Indian Journal of Economics 200925