Opinions of most of the world's macroeconomists are that investments are directly linked to economic growth, i.e. the key to achieving economic growth is accumulation of the capital, in other words investing, the topic of this Master’s thesis was an analysis of the investment structure. On the example of four economically different developed countries investment structure was analysed. The vector error correction model (VECM) used, was in the quarterly data of four variables: investments in construction works, investments in equipment, other investments and gross domestic product. The VEC model normalized by GDP(y) shows the long-term and short-term causality of variables (investment in construction works (lg), investment in equipment (le), other investments (lr)). The impact of investment in equipment (le) and construction investment (lg) has a positive significant impact in all countries (except Poland), while the other investments (lr) have a positive and negative significant impact depending on the observed country. The results of the model are confirming previous researches (B. De Long and L. H. Summers, D. Sinković), but results also demonstrate the assertion that the structure of the investment is not stationary and that structure must be adapted to the requirements of the economy.