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Size and linkages of the Spanish construction industry: key sector or deformation of the economy?

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  • Jorge Bielsa
  • Rosa Duarte

Abstract

Until its recent end, the Spanish construction industry enjoyed a decade of unprecedented growth, absorbing labour and capital from other sectors of the economy in huge amounts. Using the input--output methodology, we compare the picture for different countries in order to seek patterns and identify possible distortions associated with the extraordinary growth of the construction sector in Spain. We find that the sector is plainly oversized in Spain in comparison to its closest benchmarks, namely a group of OECD advanced economies. The available input--output data for Spain, covering several years, also provide evidence of a process of 'deformation' of the economy. On this basis, we provide an initial estimate of the impact a hypothetical adjustment in the industry would have on total income and employment in the economy. Copyright The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

Suggested Citation

  • Jorge Bielsa & Rosa Duarte, 2011. "Size and linkages of the Spanish construction industry: key sector or deformation of the economy?," Cambridge Journal of Economics, Oxford University Press, vol. 35(2), pages 317-334.
  • Handle: RePEc:oup:cambje:v:35:y:2011:i:2:p:317-334
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    File URL: http://hdl.handle.net/10.1093/cje/beq016
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    Cited by:

    1. Zafrilla, Jorge Enrique & López, Luis Antonio & Cadarso, María Ángeles & Dejuán, Óscar, 2012. "Fulfilling the Kyoto protocol in Spain: A matter of economic crisis or environmental policies?," Energy Policy, Elsevier, vol. 51(C), pages 708-719.
    2. Jens Klose & Benjamin Weigert, 2014. "Sovereign Yield Spreads During the Euro Crisis: Fundamental Factors Versus Redenomination Risk," International Finance, Wiley Blackwell, vol. 17(1), pages 25-50, March.
    3. López, Luis Antonio & Arce, Guadalupe & Zafrilla, Jorge Enrique, 2013. "Parcelling virtual carbon in the pollution haven hypothesis," Energy Economics, Elsevier, vol. 39(C), pages 177-186.
    4. Christoph Schmidt & Benjamin Weigert, 2013. "Weathering the crisis and beyond: perspectives for the Euro area," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 20(4), pages 564-595, August.
    5. Kapelko, Magdalena & Oude Lansink, Alfons & Stefanou, Spiro E., 2014. "Assessing dynamic inefficiency of the Spanish construction sector pre- and post-financial crisis," European Journal of Operational Research, Elsevier, vol. 237(1), pages 349-357.
    6. Vicent Alcántara & Emilio Padilla & Matias Piaggio, 2016. "NOx emissions and productive structure in Spain: An input–output perspective," Documentos de Trabajo (working papers) 16-02, Instituto de Economía - IECON.
    7. Honghao Ren & Henk Folmer & Arno Vlist, 2014. "What role does the real estate–construction sector play in China’s regional economy?," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 52(3), pages 839-857, May.
    8. Christoph M. Schmidt & Benjammin Weigert, 2013. "Weathering the Crisis and Beyond: Perspectives for the Euro Area," Ruhr Economic Papers 0409, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    9. Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung (ed.), 2013. "Gegen eine rückwärtsgewandte Wirtschaftspolitik. Jahresgutachten 2013/14," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201314.
    10. repec:zbw:rwirep:0409 is not listed on IDEAS
    11. Hogrefe, Jan & Sachs, Andreas, 2014. "Unemployment and labor reallocation in Europe," ZEW Discussion Papers 14-083, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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