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Additional
Gross fixed capital formation
English Wikipedia - The Free Encyclopedia
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Gross fixed capital formation
Gross fixed capital formation
(
GFCF
) is a
macroeconomic
concept used in official
national accounts
such as the
United Nations System of National Accounts
(UNSNA),
National Income and Product Accounts
(NIPA) and the
European System of Accounts
(ESA). The concept dates back to the
National Bureau of Economic Research
(NBER) studies of
Simon Kuznets
of
capital formation
in the 1930s, and standard measures for it were adopted in the 1950s. Statistically it measures the value of acquisitions of new or existing
fixed assets
by the business sector, governments and "pure" households (excluding their unincorporated enterprises)
less
disposals of fixed assets. GFCF is a component of the expenditure on
gross domestic product
(GDP), and thus shows something about how much of the new
value added
in the economy is invested rather than consumed.
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