by Steven J. Yamarik and Makram El-Shagi


The YES-database provides (real) state level capital data for the US from 1947 to 2016 in constant 2009 US dollars. We provide estimates for the level of capital, depreciation and investment that are based on the sectoral composition of the different states. The notation used, includes current investment in current capital stocks, i.e.

kj,t = ( 1- δj,t ) kj,t-1 + ij,t


regcapline s

Download the Data


Cite as follows


Data from 1947 to 2000

Garofalo GA / Yamarik S.: Regional convergence: Evidence from a new state-by-state capital stock series, in: Review of Economics and Statistics, May 2002; 84(2):316-23.

Data from 1999 - 2016 and merged data

El-Shagi, M. / Yamarik, S.: State-Level Capital and Investment: Refinements and Update, CFDS Discussion Paper No. 2018/1, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.


The YES-data is updated annually in the second quarter after the new underlying BEA data becomes available. Please note that the underlying data may be revised. Vintages will be made available.