by Steven J. Yamarik and Makram El-Shagi


The YES-database provides (real) state level capital data for the US from 1947 to 2020 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


caplab heatmap


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, Vol. 84 (2), pp. 316-323, May 2002


Data from 1999 - 2017 and merged data

El-Shagi, M. / Yamarik, S.: State-Level Capital and Investment: Refinements and Update, in: Growth and Change: A Journal of Urban and Regional Policy, Vol. 50 (4), pp. 1411-1422, December 2019

(previous version available as: CFDS Discussion Paper No. 2018/1)





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.

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