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        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe
        The Driving Force behind the Boom and Bust in Construction in Europe

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        The Driving Force behind the Boom and Bust in Construction in Europe

        ABSTRACT

        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. Nevertheles ....read more

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        • TypeReport
        • PriceFree
        • FormatPDF
        • Size698 KB
        • LanguageEnglish
        • Stacks0
        • Postedalmost 4 years ago
        • Authored-
        • Added byHashdoc Content Review
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