The impact of the business cycle on the construction companies’ sector inselected states

Rafal Wolski and Magdalena Zaleczna

ERES from European Real Estate Society (ERES)

Abstract: The economy is a subject to a periodical changes. They are reflected infinancial situation of households and companies. However, the recenteconomic downturn is particularly acute. After strong growth of activity,in many states related to the real estate boom, there was a suddencessation of the activity of a construction sector. It contributed to aslowdown in an economic growth, or even a lasting economic downturn. Theauthors analyse the conditions of economy, the construction sectors and the state of the residential real estate markets in the Czech Republic, Poland,Slovakia, Hungary, Spain and Ireland to draw a wider picture of an impactof the boom and the slowdown on construction activity. Then on the basis of the database of the financial condition of chosen construction companies from these countries, they look for answers to the question how much these actors havechanged their activity in recent years. The database of constructioncompanies involved in the construction of buildings is established and anassessment of their financial health in the years 2003-2012 allows for therealization of the intended purpose. The analysis should allow torecognize the scale of the impact of the business cycle on constructionactivity in macro and mezzo scales in the chosen states.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2014-01-01
New Economics Papers: this item is included in nep-mac and nep-tra
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