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- Title
FEITOS ESTILIZADOS DO PATRÓN DE INVESTIMENTO NA ECONOMÍA ESPAÑOLA (1981-2013).
- Authors
Cárdenas del Rey, Luis
- Abstract
The main aim of this report is to introduce a set of stylized facts about the investment pattern displayed by the Spanish economy in the past decades. This type of analysis is relevant as a starting point for further studies on investment in Spain, especially given the importance of investment in economic growth. Information from the BBVA-IVIE database has been used with a different methodological approach, closer to the categories of the American BEA. As a result, new evidence is exposed along with the characteristics of the capitalization pattern, of which the most interesting ones are the following: (i) There was an "acceleration" in growth between both expansive cycles. (ii) As far as technical composition is concerned, investment in equipment is the one that has been more dynamic. (iii) From the agent investment point of view, business capitalization has been hugely consistent with growth, being complemented by the "relay" of the other two agents, i.e., the government investment in the first expansionary cycle (1981-1993) and household investment in the second (1994-2007). (iv) At a sectoral level, investment has been concentrated in industries with greater dynamism in terms of job creation and, in this sense, the building industry is paradigmatic.
- Publication
Galician Journal of Economics / Revista Galega de Economía, 2017, Vol 26, Issue 2, p5
- ISSN
1132-2799
- Publication type
Article
- DOI
10.15304/rge.26.2.4309