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Il settore delle costruzioni in Italia tra crisi e trasformazione
[The construction sector in Italy, crisis and change]

Author

Listed:
  • Girardi, Daniele

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.

Suggested Citation

  • Girardi, Daniele, 2012. "Il settore delle costruzioni in Italia tra crisi e trasformazione [The construction sector in Italy, crisis and change]," MPRA Paper 49901, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:49901
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    File URL: https://mpra.ub.uni-muenchen.de/49901/1/MPRA_paper_49901.pdf
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    References listed on IDEAS

    as
    1. Felton, Andrew & Reinhart, Carmen M. (ed.), 2009. "The First Global Financial Crisis of the 21st Century Part II: June–December, 2008," Vox eBooks, Centre for Economic Policy Research, number p199.
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    More about this item

    Keywords

    Italy; Construction; Real Estate; Crisis;
    All these keywords.

    JEL classification:

    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction

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