BUSCADOR RECOLECTA

En la literatura económica cuantitativa y aplicada es frecuente encontrar referencias a la medición estadística del capital y la depreciación. En este trabajo presentamos una forma diferente de estimar el stock de capital y la tasa de depreciación. Las ecuaciones que resuelven el problema de optimización de la empresa también permiten calcular endógenamente las variables tasa de depreciación y stock de capital, obteniendo una estimación económica de ambas. Nuestro método de cálculo usa los valores bursátiles de la ratio q de Tobin, y genera unos resultados que difieren de los obtenidos al aplicar el método del inventario permanente para el conjunto de la economía española y sus regiones durante el
periodo 1964-2011. La tasa de depreciación económica fluctúa alrededor de la tasa estadística. El stock de capital económico ofrece un perfil temporal diferente del que muestra la medida estadística, y esto se visualiza en unas diferencias claras en sus correspondientes tasas de crecimiento. Los shocks económicos desvían la tasa de depreciación económica de la tasa estadística con diferente intensidad
en las regiones españolas. Ello permite aproximar la resiliencia regional relativa centrada en el comportamiento de la depreciación y establecer tres grupos de regiones en función de su capacidad de absorción y adaptación ante los diferentes shocks., In the quantitative and applied economic literature it is frequent to find references to the statistical measurement of capital and depreciation. In this paper we present an alternative method of estimating the capital stock and the depreciation rate. The equations that solve the dynamic optimization problem of the neoclassical firm also enable us to endogenously calculate the rate of depreciation and capital stock variables, yielding an economic estimate of both. Our calculation method uses profitability indicators such as distributed profits and Tobin’s q ratio. Our results differ from those obtained by applying the permanent inventory method for Spanish economy and its regions during the period 1964-2011. The economic depreciation rate fluctuates around the statistical rate. Two time profiles for the economic and statistical capital are markedly different, as attested to by the disparity of their growth rates. The paper also shows that economic shocks turn aside the economic depreciation rate of the statistical rate with different intensity in the Spanish regions. This allows us to approximate the relative regional resilience based on the behaviour of depreciation and to establish three groups of regions according to their capacity of absorption and adaptation to the different shocks., Ministerio de Economía, Industria y Competitividad

This study explores the relationship between railroad integration and regional development on the European periphery between 1870 and 1910, based on a regional dataset including 291 spatial units. Railroad integration is proxied by railroad density, while per capita GDP is used as an indicator of economic development. The period under study is of particular relevance as it has been associated with the second wave of railroad construction in Europe and also coincides with the industrialization of most of the continent. Overall, we found that railroads had a significant and positive impact on the growth of per capita GDP across Europe. The magnitude of this relationship appears to be relatively modest, but the results obtained are robust with respect to a number of different specifications. From a geographical perspective, we found that railroads had a significantly greater influence on regions located in countries on the northern periphery of Europe than in other outlying areas. They also helped the economies of these areas to begin the process of catching up with the continent's industrialized core. In contrast, the regions on the southern periphery showed lower levels of economic growth, with this exacerbating the pre-existing divergence in economic development. Furthermore, these phenomena were not only observed between states but also between, and even within, the regions of individual countries. The most northerly located countries began their networks by first connecting their main cities. After that, they expanded them outwards, and into their more rural, northern territories, in a process that facilitated the spread of development. In the states of southern Europe, on the other hand, the expansion of the railroad network was unable to homogenize the diffusion of economic development and, if anything, tended to further benefit the regions that were already industrialized. In all of the cases studied, the capital effect was magnified, and this contributed to the consolidation of newly created nation states., Funding was provided by Ministerio de Economía y Competitvidad (ECO2015 65049 C12-1-P; ECO2015 71534 REDT), Ministerio de Ciencia, Innovación y Universidades (PGC2018-095821-B-I00), and University of Lleida-INDEST.

The contributions to this special issue share important themes and methodologies in their quest to explicate economic development and its effects. Nonetheless, each area under examination has its own peculiarities and warrants its own scope of analysis. The result is a special issue that pursues an innovative line of research, exploring parallels and contrasts in economic growth and inequality based on new data at the regional, rather than simply the national, level., The authors are grateful to the following institutions for their financial support of the
research in this special issue of The Journal of Interdisciplinary History: (1) European Union (EU— Jean Monnet Action); (2) ICREA—Generalitat de Catalunya; (3) MINECO CSO2015-65733-P,
CO2015-65049-C2-1-P, ECO2015-71534-REDT; and (4) Fundación BBVA.