Constructing a Manufacturing Fixed Capital Stock Series for the Regions of Greece.

Although regional variation in rates of capital accumulation is considered a major component of spatially uneven industrial development, it remains largely an understudied area. The theoretical and methodological problems that surround the measurement of capital, generally, alongside the lack of necessary information about a wide range of specific aspects, pose serious obstacles in any attempt to construct regional capital stock series. In such a context, the main aim of this paper is to make the best possible effort to construct a regional manufacturing fixed capital stock series for Greece. The limited availability of information (not unusual in regional as opposed to national contexts) and the necessity of making some arbitrary, but specified, assumptions mean that the estimation steps have to be presented in detail to assess reliability. Four regional fixed capital stock series for total manufacturing activity are generated. The results are then assessed in the context of uneven spatial development in Greece. [ABSTRACT FROM AUTHOR]