Productive investment in the recent cycle

Banco de España

Economic Bulletin, 2002, issue OCT, No 5, 85-96

Abstract: This article analyses various factors that help understand the behaviour of productive investment in the recent expansionary cycle and its premature slowdown as from the year 2000. Firstly, this behaviour is described, comparing it with that of the previous cycle and with that observed in other advanced economies, while relating it to the habitual determinants of investment. Next, there is a discussion of some investment-related measurement problems, which may partly explain the trend observed. And finally, the potential influence exerted by specific events in recent years – such as the strong increase in foreign investment flows and the climate of heightened uncertainty accompanying recent developments in the international economy – is analysed.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:bde:journl:y:2002:i:10:n:5

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