금융위기 이후 설비투자의 변화와 특징

초록

This paper documents some stylized facts in the facility investment after the global financial crisis from the perspectives of cross-section and time-series. First, facility investment rate, machinery and equipment investment rate in particular, has been declining more rapidly than other OECD countries. Second, facility investment is heavily concentrated in a few industries including electronic manufacturing. An industry-level cross-section regression shows that price of capital goods is a significant determinant of facility investment. Third, the co-movement between facility investment and GDP, estimated in the frequency domain, is much weaker in the post-global financial crisis period.

키워드