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Real estate boom and French corporate investment
[Boom immobilier et investissement des entreprises françaises]

Author

Listed:
  • Denis Fougère
  • Rémy Lecat
  • Simon Ray

Abstract

The boom of the 2000s in France stimulated investment by firms with significant real estate holdings (positive collateral channel). Conversely, it was unfavourable to investment by younger firms, with fewer holdings, because of the induced cost (negative profit channel), which justifies the current attention given to the financing of SMEs. Le boom des années 2000 en France a stimulé l’investissement des entreprises aux actifs immobiliers importants (canal positif du collatéral). À l’inverse, il a défavorisé l’investissement des entreprises moins dotées, souvent plus jeunes, en raison du coût induit (canal négatif du profit), ce qui justifie l’attention actuelle donnée au financement des PME.

Suggested Citation

  • Denis Fougère & Rémy Lecat & Simon Ray, 2017. "Real estate boom and French corporate investment [Boom immobilier et investissement des entreprises françaises]," Eco Notepad (in progress) 27, Banque de France.
    • Handle: RePEc:bfr:econot:27
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    File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/boom-immobilier-et-investissement-des-entreprises-francaises
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