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Table e1 Capital–output (K/Y) ratios in CIS countries, 1992–2005

From: Old Capital vs. New Investment in Post-Soviet Economies: Conceptual Issues and Estimates

  1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
ARM 6.9 7.3 6.8 6.2 5.7 5.4 5.0 4.7 4.4 4.0 3.6 3.2 3.0 2.8
AZB 3.1 4.1 5.1 5.6 5.6 5.4 5.0 4.7 4.2 3.9 3.7 3.7 3.7 3.1
BEL 3.6 4.0 4.6 5.2 5.0 4.5 4.2 4.1 4.0 3.8 3.7 3.5 3.3 3.1
GRG 6.1 8.2 8.8 8.1 7.1 6.3 6.0 5.8 5.6 5.3 5.0 4.5 4.3 4.0
KAZ 4.1 4.6 5.2 5.7 5.5 5.3 5.3 5.1 4.6 4.1 3.7 3.5 3.3 3.1
KRG 4.0 4.6 5.6 5.8 5.4 4.8 4.6 4.4 4.1 3.9 3.9 3.6 3.3 3.3
MLD 5.3 5.3 7.5 7.3 7.6 7.3 7.6 7.7 7.3 6.7 6.0 5.6 5.1 4.8
RUS 2.7 2.9 3.3 3.5 3.6 3.5 3.6 3.3 2.9 2.7 2.6 2.4 2.2 2.1
TAJ 3.8 4.4 5.6 6.2 7.3 7.0 6.4 6.0 5.4 4.7 4.2 3.8 3.4 3.1
UKR 2.3 2.8 3.7 4.2 4.6 4.8 4.8 4.8 4.5 4.1 3.9 3.6 3.2 3.2
UZB 5.0 5.1 5.4 5.5 5.5 5.3 5.1 4.9 4.8 4.6 4.4 4.3 4.0 3.8
  1. Sources: Authors’ calculations based on World Bank (2007) and Goskomstat (various years)