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Typische Erholungsphasen der Unternehmensinvestitionen im Anschluss an normale Rezessionen und Bankenkrisen

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  • Jannsen, Nils

Abstract

Die Unternehmensinvestitionen sind eine zentrale Größe für die volkswirtschaftliche Entwicklung. So verhalten sie sich in der Regel sehr prozyklisch und prägen damit maßgeblich den Konjunkturverlauf. Zudem sind sie auch für die langfristigen Wachstumsperspektiven einer Volkswirtschaft bedeutsam, da sie den für die Produktion zur Verfügung stehenden Kapitalstock determinieren. Im Zuge der Großen Rezession und der Schuldenkrisen in einigen Ländern des Euroraums sind die Unternehmensinvestitionen zum Teil regelrecht eingebrochen. In einigen Volkswirtschaften haben sie sich zwar wieder etwas erholt, alles in allem haben sie sich jedoch schwächer entwickelt, als vielfach erwartet worden war, und tendieren gerade im Euroraum vielerorts nach wie vor zur Schwäche. Im Folgenden werden stilisierte Fakten für die Entwicklung der Unternehmensinvestitionen in Erholungsphasen (also im Anschluss an Rezessionen) empirisch ermittelt. Die Ergebnisse werden mit den aktuellen Entwicklungen bei den Unternehmensinvestitionen in ausgewählten Ländern des Euroraums verglichen und es wird daraus abgeleitet, ob diese Entwicklungen im Einklang mit den historischen Erfahrungen stehen.

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  • Jannsen, Nils, 2015. "Typische Erholungsphasen der Unternehmensinvestitionen im Anschluss an normale Rezessionen und Bankenkrisen," Kiel Insight 2015.17, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwbox:201517
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    1. Ademmer, Martin & Beckmann, Joscha & Boysen-Hogrefe, Jens & Fiedler, Salomon & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Meuchelböck, Saskia, 2021. "Deutsche Wirtschaft im Sommer 2021 - Mehr Druck auf den Preisventilen [German Economy Summer 2021 - Pronounced price pressures]," Kieler Konjunkturberichte 80, Kiel Institute for the World Economy (IfW Kiel).

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