Abstract

Construction is a pivotal sector in economies of both developed and developing countries. A distinctive aspect is that it follows specific dynamics compared to other sectors representing the building blocks of an economy, such as manufacturing and services. Indeed, while facing the same challenges of other sectors in terms of technological innovation, efficiency, ecology, labor and industrial relations, it addresses them in peculiar ways. These specificities have appeared clearly in the last couple of years in the aftermath of the pandemic crisis, although their rise dates back to the 2008 financial crisis. In this paper, we will discuss these specificities in the context of the recent events that have hit the European Union. The construction sector could be, as it has been in the past, a driver of growth and employment if correctly directed and monitored in its negative spillovers. This means also to reconfigure the role of public policies about construction industry, a difficult but necessary objective.