Capital Fundamentalism, Economic Development, and Economic Growth

This file provides the capital stock data used in the paper "Capital Fundamentalism, Economic Development, and Economic Growth," by Robert King and Ross Levine. The data are provided as both annual time series, 1950-88, where available, and as averages for the 1980s. This paper critically evaluates the roles of investment and physical capital accumulation in economic growth and development. Should a modern version of capital fundamentalism - where capital and investment are viewed as the primary determinants of economic development and long-run growth - guide our research and policy advice? Our analysis suggests that the answer in "no." Capital accumulation seems to be part of the process of economic development and growth, not the igniting source.