Hidden Bibliographic Details
| Other authors / contributors: | Barkbu, Bergljot.
International Monetary Fund. European Department.
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| ISBN: | 1498364802
9781498364805
9781498364805
9781484358542
1484358546
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| ISSN: | 1018-5941
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| Notes: | Authors: Bergljot Barkbu, S. Pelin Berkmen, Pavel Lukyantsau, Sergejs Saksonovs, and Hanni Schoelermann.
"February 2015."
"European Department."
Includes bibliographical references (pages 17-18).
Online resource; title from pdf title page (IMF.org Web site, viewed February 23, 2015).
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| Summary: | 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 dynamics 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.--Abstract.
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| Other form: | Print Version: 9781498364805
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| Standard no.: | 10.5089/9781498364805.001
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