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Article: Coping with structural change in construction: experiences gained from advanced economies

TitleCoping with structural change in construction: experiences gained from advanced economies
Authors
KeywordsAdvanced Economies
Construction Industry
Recession
Recovery
Strategy
Issue Date2009
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.asp
Citation
Construction Management and Economics, 2009, v. 27 n. 2, p. 165-180 How to Cite?
AbstractAs an economy approaches maturity, the relative importance of the construction sector would gradually decline. Without effective policies and strategies, the construction industry will suffer irreversably and this may trigger a knock-on effect to the overall economy. The experiences of selected advanced economies are examined, including Australia, Japan, Singapore, South Korea and the UK in coping with structural changes in construction. Strategies employed by the government and the construction industry of these advanced economies to reinvent the construction industry were captured through an extensive literature review and a series of interviews with indigenous industry practitioners. In order to revitalize the construction industry, governments would accelerate publicly funded projects; provide financial support to ease the burden of industry stakeholders; and stimulate the market demand. In contrast, the industry would explore various market alternatives while companies would sharpen their competitive advantage locally and internationally through merger and acquisition. The identified strategies are corresponded to a construction industry development framework, which could therefore serve as a valuable reference for policy makers and practitioners to rejuvenate construction demand when a country approaches an urban service economy.
Persistent Identifierhttp://hdl.handle.net/10722/150498
ISSN
2015 SCImago Journal Rankings: 0.967
References

 

DC FieldValueLanguage
dc.contributor.authorNg, TSTen_US
dc.contributor.authorFan, RYCen_US
dc.contributor.authorWong, JMWen_US
dc.contributor.authorChan, APCen_US
dc.contributor.authorChiang, YHen_US
dc.contributor.authorLam, PTIen_US
dc.contributor.authorKumaraswamy, MMen_US
dc.date.accessioned2012-06-26T06:05:12Z-
dc.date.available2012-06-26T06:05:12Z-
dc.date.issued2009en_US
dc.identifier.citationConstruction Management and Economics, 2009, v. 27 n. 2, p. 165-180en_US
dc.identifier.issn0144-6193en_US
dc.identifier.urihttp://hdl.handle.net/10722/150498-
dc.description.abstractAs an economy approaches maturity, the relative importance of the construction sector would gradually decline. Without effective policies and strategies, the construction industry will suffer irreversably and this may trigger a knock-on effect to the overall economy. The experiences of selected advanced economies are examined, including Australia, Japan, Singapore, South Korea and the UK in coping with structural changes in construction. Strategies employed by the government and the construction industry of these advanced economies to reinvent the construction industry were captured through an extensive literature review and a series of interviews with indigenous industry practitioners. In order to revitalize the construction industry, governments would accelerate publicly funded projects; provide financial support to ease the burden of industry stakeholders; and stimulate the market demand. In contrast, the industry would explore various market alternatives while companies would sharpen their competitive advantage locally and internationally through merger and acquisition. The identified strategies are corresponded to a construction industry development framework, which could therefore serve as a valuable reference for policy makers and practitioners to rejuvenate construction demand when a country approaches an urban service economy.en_US
dc.languageengen_US
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.aspen_US
dc.relation.ispartofConstruction Management and Economicsen_US
dc.subjectAdvanced Economiesen_US
dc.subjectConstruction Industryen_US
dc.subjectRecessionen_US
dc.subjectRecoveryen_US
dc.subjectStrategyen_US
dc.titleCoping with structural change in construction: experiences gained from advanced economiesen_US
dc.typeArticleen_US
dc.identifier.emailNg, ST: tstng@hkucc.hku.hken_US
dc.identifier.emailWong, JMW: bsjamesw@gmail.comen_US
dc.identifier.emailKumaraswamy, MM: mohan@hkucc.hku.hk-
dc.identifier.authorityNg, ST=rp00158en_US
dc.identifier.authorityKumaraswamy, M=rp00126en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1080/01446190802699040en_US
dc.identifier.scopuseid_2-s2.0-67650297241en_US
dc.identifier.hkuros161539-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-67650297241&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume27en_US
dc.identifier.issue2en_US
dc.identifier.spage165en_US
dc.identifier.epage180en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridNg, ST=7403358853en_US
dc.identifier.scopusauthoridFan, RYC=27267665500en_US
dc.identifier.scopusauthoridWong, JMW=30067976000en_US
dc.identifier.scopusauthoridChan, APC=7403167781en_US
dc.identifier.scopusauthoridChiang, YH=7201593363en_US
dc.identifier.scopusauthoridLam, PTI=7202366008en_US
dc.identifier.scopusauthoridKumaraswamy, M=35566270600en_US

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