Il settore delle costruzioni in Italia tra crisi e trasformazione

The construction sector in Italy, crisis and change

Daniele Girardi

MPRA Paper from University Library of Munich, Germany

Abstract: Since the mid-Nineties and until 2005 the italian construction sector experienced an exceptional expansive cycle, the most intense in the last four decades. Construction was allowed to boom by a mix of factors (demographic, financial, increase in public works expenditure) and was driven by new residential construction. A slowdown followed, starting in 2006, which became a dramatic slump since 2008. One relevant issue that emerges is the pro-cyclical role played by public works expenditure during the recent construction cycle. Moreover, evidence suggests that the italian construction sector is not experiencing only a cyclical over-production crisis, but also a deeper process of structural change. The sub-sectors which drove construction in the 2000s appear destined to see their incidence decreasing, while new drivers are emerging. The progressive integration between the energy industry and the construction sector appears to be the most important trend.

Keywords: Italy; Construction; Real Estate; Crisis (search for similar items in EconPapers)
JEL-codes: L74 (search for similar items in EconPapers)
Date: 2012
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