Figure E
More public capital leads to faster productivity growth: Average growth rate of public capital stock and productivity, 1953–2007
| Year | Public, non-defense capital stock | Productivity |
|---|---|---|
| 1953 | 3.684% | 3.360% |
| 1954 | 3.880% | 3.076% |
| 1955 | 4.013% | 2.586% |
| 1956 | 4.134% | 1.900% |
| 1957 | 4.283% | 2.055% |
| 1958 | 4.506% | 2.044% |
| 1959 | 4.574% | 2.428% |
| 1960 | 4.589% | 1.814% |
| 1961 | 4.685% | 2.582% |
| 1962 | 4.768% | 2.975% |
| 1963 | 4.831% | 3.230% |
| 1964 | 4.958% | 3.048% |
| 1965 | 5.143% | 3.432% |
| 1966 | 5.273% | 3.526% |
| 1967 | 5.335% | 2.969% |
| 1968 | 5.282% | 2.950% |
| 1969 | 5.050% | 2.398% |
| 1970 | 4.666% | 2.078% |
| 1971 | 4.205% | 2.163% |
| 1972 | 3.738% | 2.478% |
| 1973 | 3.307% | 2.424% |
| 1974 | 2.996% | 2.068% |
| 1975 | 2.782% | 2.320% |
| 1976 | 2.606% | 2.189% |
| 1977 | 2.426% | 1.837% |
| 1978 | 2.332% | 1.471% |
| 1979 | 2.268% | 1.712% |
| 1980 | 2.226% | 1.109% |
| 1981 | 2.141% | 0.723% |
| 1982 | 2.050% | 0.198% |
| 1983 | 1.901% | 0.815% |
| 1984 | 1.808% | 1.298% |
| 1985 | 1.785% | 1.677% |
| 1986 | 1.864% | 2.012% |
| 1987 | 2.014% | 2.284% |
| 1988 | 2.158% | 1.734% |
| 1989 | 2.246% | 1.484% |
| 1990 | 2.326% | 1.525% |
| 1991 | 2.375% | 1.217% |
| 1992 | 2.408% | 1.958% |
| 1993 | 2.400% | 1.739% |
| 1994 | 2.339% | 1.791% |
| 1995 | 2.269% | 1.506% |
| 1996 | 2.254% | 1.714% |
| 1997 | 2.229% | 1.221% |
| 1998 | 2.264% | 1.697% |
| 1999 | 2.379% | 2.156% |
| 2000 | 2.449% | 2.753% |
| 2001 | 2.473% | 2.822% |
| 2002 | 2.544% | 3.427% |
| 2003 | 2.577% | 3.576% |
| 2004 | 2.509% | 3.442% |
| 2005 | 2.394% | 3.091% |
| 2006 | 2.305% | 2.685% |
| 2007 | 2.182% | 2.081% |
Note: Public capital excludes defense capital stock. Productivity measures, which cover the nonfarm business sector, are in five-year averages.
Source: Author's analysis of Bureau of Economic Analysis Fixed-Assets Accounts (Table 7.6A and 7.6B) and Bureau of Labor Statistics Labor Productivity and Costs in refs public data series
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