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Article: The impact of a rapidly expanding service sector on private office property: the case of Hong Kong

TitleThe impact of a rapidly expanding service sector on private office property: the case of Hong Kong
Authors
KeywordsConstruction
Property market
Service sector
Urban economy
China
Issue Date2001
PublisherBlackwell Publishing Asia. The Journal's web site is located at http://www.blackwellpublishing.com/journals/RURDS
Citation
Review of Urban & Regional Development Studies, 2001, v. 13 n. 3, p. 221-243 How to Cite?
AbstractHong Kong's economy has undergone a remarkable transformation over the past two decades. The rapid expansion of the service sector is a major outcome. Within the services sector, the finance, insurance, real estate (FIRE) and business services sub-sector is the most influential and also the major source of generating demand for office space in the economy. This paper examines how the rapid expansion of the FIRE and business service sub-sector influences new office construction. Using the Engle-Granger (1987) methodology for cointegration and error correction mechanism (ECM), the causal relationships between growth of sub-sectors of the services sector and the new office space construction were explored. The FIRE and business services sub-sector growth is shown to be cointegrated with new office space construction. The paper reports empirical findings based on a sample survey on location and quality of space. The study reveals that the growth of the FIRE and business service sector has influenced office space development in terms of location of space, per capita space and the type and quality space during 1981-2000.
Persistent Identifierhttp://hdl.handle.net/10722/149363
ISSN
2015 SCImago Journal Rankings: 0.167
References

 

DC FieldValueLanguage
dc.contributor.authorJayantha, WMen_US
dc.contributor.authorLau, SSYen_US
dc.contributor.authorGanesan, Sen_US
dc.date.accessioned2012-06-26T05:52:32Z-
dc.date.available2012-06-26T05:52:32Z-
dc.date.issued2001en_US
dc.identifier.citationReview of Urban & Regional Development Studies, 2001, v. 13 n. 3, p. 221-243en_US
dc.identifier.issn0917-0553en_US
dc.identifier.urihttp://hdl.handle.net/10722/149363-
dc.description.abstractHong Kong's economy has undergone a remarkable transformation over the past two decades. The rapid expansion of the service sector is a major outcome. Within the services sector, the finance, insurance, real estate (FIRE) and business services sub-sector is the most influential and also the major source of generating demand for office space in the economy. This paper examines how the rapid expansion of the FIRE and business service sub-sector influences new office construction. Using the Engle-Granger (1987) methodology for cointegration and error correction mechanism (ECM), the causal relationships between growth of sub-sectors of the services sector and the new office space construction were explored. The FIRE and business services sub-sector growth is shown to be cointegrated with new office space construction. The paper reports empirical findings based on a sample survey on location and quality of space. The study reveals that the growth of the FIRE and business service sector has influenced office space development in terms of location of space, per capita space and the type and quality space during 1981-2000.en_US
dc.languageengen_US
dc.publisherBlackwell Publishing Asia. The Journal's web site is located at http://www.blackwellpublishing.com/journals/RURDSen_US
dc.relation.ispartofReview of Urban & Regional Development Studiesen_US
dc.rightsThe definitive version is available at www.blackwell-synergy.com-
dc.subjectConstruction-
dc.subjectProperty market-
dc.subjectService sector-
dc.subjectUrban economy-
dc.subjectChina-
dc.titleThe impact of a rapidly expanding service sector on private office property: the case of Hong Kongen_US
dc.typeArticleen_US
dc.identifier.emailLau, SSY: ssylau@hku.hken_US
dc.identifier.emailGanesan, S: sganesan@arch.hku.hk-
dc.identifier.authorityLau, SSY=rp01006en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1111/1467-940X.00042-
dc.identifier.scopuseid_2-s2.0-0035673420en_US
dc.identifier.hkuros65842-
dc.identifier.hkuros108510-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0035673420&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume13en_US
dc.identifier.issue3en_US
dc.identifier.spage221en_US
dc.identifier.epage243en_US
dc.publisher.placeAustraliaen_US
dc.identifier.scopusauthoridGanesan, S=7102439694en_US
dc.identifier.scopusauthoridLau, SSY=24734045900en_US
dc.identifier.scopusauthoridJayantha, WM=6505488584en_US

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