Investment in the Euro Area : Why Has It Been Weak? /

Investment across the euro area remains below its pre-crisis level. Its performance has been weaker than in most previous recessions and financial crises. This paper shows that a part of this weakness can be explained by output dynamics, particularly before the European sovereign debt crisis. The re...

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מחבר ראשי: Barkbu, Bergljot
מחברים אחרים: Berkmen, Pelin, Lukyantsau, Pavel, Saksonovs, Sergejs
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2015.
סדרה:IMF Working Papers; Working Paper ; No. 2015/032
גישה מקוונת:Full text available on IMF
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245 1 0 |a Investment in the Euro Area :   |b Why Has It Been Weak? /  |c Bergljot Barkbu, Pelin Berkmen, Pavel Lukyantsau, Sergejs Saksonovs. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2015. 
300 |a 1 online resource (30 pages) 
490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Investment across the euro area remains below its pre-crisis level. Its performance has been weaker than in most previous recessions and financial crises. This paper shows that a part of this weakness can be explained by output dynamics, particularly before the European sovereign debt crisis. The rest is explained by a high cost of capital, financial constraints, corporate leverage, and uncertainty. There is a considerable cross country heterogeneity in terms of both investment dymanics and its determinants. Based on the findings of this paper, investment is expected to pick up as the recovery strengthens and uncertainty declines, but persistent financial fragmentation and high corporate leverage in some countries will likely continue to weigh on investment. 
538 |a Mode of access: Internet 
700 1 |a Berkmen, Pelin. 
700 1 |a Lukyantsau, Pavel. 
700 1 |a Saksonovs, Sergejs. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2015/032 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2015/032/001.2015.issue-032-en.xml  |z IMF e-Library