In the process of building a social accounting matrix for Panama, I am trying to understand what capital refers to. The Panamanian National Accounts have tables on capital, but they describe gross capital formation. In a social accounting matrix, gross capital formation represents investment and not capital. So what does capital mean?
I was also wondering if capital was included as part of Gross Value Added (GVA) and, if so, could it be calculated using GVA data?