The Driving Force behind the Boom and Bust in Construction in Europe:
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Internformat
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| 520 | 3 | |a This paper studies the factors behind pro-cyclical but widely varying construction shares (as a percent of GDP) across countries, with a strong focus on European countries. Using a dataset covering 48 countries (including advanced and emerging economies within and outside Europe) for 1990-2011, we find that country's geography, demographics, and economic conditions are the key determinants of a norm around which actual construction shares revolve in a simple AR(1) and error-correction process. The empirical results show that in many European countries, construction shares overshoot relative to their norms before the recent global crisis, but they have fallen significantly since the crisis. Nevertheless, there is still room for further adjustment in construction shares in some countries which may weigh on economic recovery | |
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| id | DE-604.BV048342111 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:42:02Z |
| institution | BVB |
| isbn | 1484392485 9781484392485 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033721379 |
| oclc_num | 1337141275 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
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| physical | 1 Online-Ressource (36 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spellingShingle | Sun, Yan The Driving Force behind the Boom and Bust in Construction in Europe |
| title | The Driving Force behind the Boom and Bust in Construction in Europe |
| title_auth | The Driving Force behind the Boom and Bust in Construction in Europe |
| title_exact_search | The Driving Force behind the Boom and Bust in Construction in Europe |
| title_full | The Driving Force behind the Boom and Bust in Construction in Europe Sun, Yan |
| title_fullStr | The Driving Force behind the Boom and Bust in Construction in Europe Sun, Yan |
| title_full_unstemmed | The Driving Force behind the Boom and Bust in Construction in Europe Sun, Yan |
| title_short | The Driving Force behind the Boom and Bust in Construction in Europe |
| title_sort | the driving force behind the boom and bust in construction in europe |
| url | http://elibrary.imf.org/view/IMF001/20757-9781484392485/20757-9781484392485/20757-9781484392485.xml |
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