Following two years of annual contractions, private-sector fixed capital formation grew by 1.2% in 2017 and by 9.9% in the final quarter of the year, mainly due to expenditure on transport equipment and machinery. It is still too early to tell whether this unexpected increase is the beginning of a positive trend.
Furthermore, national central banks are contributing their expertise to the discussion. However, in order to achieve improvements in the financial architecture that substantially strengthen financial stability, an in-depth analysis of the underlying reasons for the crisis is essential. In this respect, the economic research that takes place at universities and various institutions is of great importance.