However, low market interest rates on foreign currency loans mitigated, to some extent, the increase in the debt-servicing burden of borrowers.
Indeed, fresh investment often embodies new technology and serves to further increase productivity. The composition of investment matters too. The nature of the production process determines the amount and type of capital (and investment) required. Services, for example, generally require 2/9  BIS central bankers' speeches  less investment than oil sands or motor vehicle production.