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Impact Of Economic And Financial Crisis In The Construction Industry

Author

Listed:
  • Tudor NISTORESCU

    (University of Craiova)

  • Cristina PLOSCARU

    (University of Craiova)

Abstract

The current financial and economic crisis has affected many sectors, and also the construction sector. The construction market has been and will be an important source of income for the entire Europe, totaling about 1.650 thousand billion euro, which is more than the GDP of Italy. Building no doubt brings significant percentage in the GDP of any European country, which of course is different from country to country. In Western European countries, the residential market is almost 50% from the construction market, while in Eastern European countries the majority is held by the civil and non-residential constructions. In addition, in the West the medium budget per capita spent on construction is 3-4 times higher than that spent in Eastern countries. But, according to previsions in the coming years the countries that will witness a growth, albeit small, will be the Eastern ones. The paper highlights the impact of the economic and financial crisis in the construction industry on a European and national level, as the sustainable constructions that may represent the sector’s future.

Suggested Citation

  • Tudor NISTORESCU & Cristina PLOSCARU, 2010. "Impact Of Economic And Financial Crisis In The Construction Industry," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 25-36, May.
    • Handle: RePEc:aio:manmar:v:viii:y:2010:i:1:p:25-36
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    File URL: http://www.mnmk.ro/documents/2010/3NistorescuFFF.pdf
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    Citations

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    Cited by:

    1. Cristina IACOBOAEA & Cristina ALPOPI & Carmen Mariana PASCA, 2014. "An analysis of the construction sectors in Romanian development regions," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2014(23), pages 46-59, December.
    2. Yanfang Sun & Haiyan Xie & Xirong Niu, 2019. "Characteristics of Cyclical Fluctuations in the Development of the Chinese Construction Industry," Sustainability, MDPI, vol. 11(17), pages 1-14, August.

    More about this item

    Keywords

    construction market; economic crisis; sustainable constructions; residential constructions;
    All these keywords.

    JEL classification:

    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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