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Article: A longitudinal analysis on the relationship between construction output and GDP in Hong Kong

TitleA longitudinal analysis on the relationship between construction output and GDP in Hong Kong
Authors
KeywordsConstruction growth
Economic development
GDP growth
Hong Kong construction industry
Issue Date2004
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.asp
Citation
Construction Management And Economics, 2004, v. 22 n. 4, p. 339-345 How to Cite?
AbstractThe relationship between construction output and economic growth has been well discussed by construction economists. Most of the previous studies found a positive correlation between gross domestic product (GDP) per capita and various measures of construction output. However, cross-sectional analysis was commonly adopted but longitudinal analysis has been called upon. Furthermore, recent research argued that non-linear relationship between GDP and construction output exists because of different stages of economic development in different countries. They explained the phenomenon by means of the change of the growth rates of construction output at different stages of economic development, but the argument has not yet been rigorously tested. With the availability of long time-series of data of Hong Kong construction industry, this paper attempts to test longitudinally the relationship between the real growth rate of construction output and the real growth rate of GDP. It was found that the growth rate of GDP led that of construction output, and as the growth rate of GDP increased, the growth rate of construction output was marginally diminishing. It agrees with the proposition that construction industry is relatively inefficient in productivity improvement and the accumulation of capital investment results in a marginally diminishing growth of construction output. © 2004 Taylor & Francis Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/168729
ISSN
2015 SCImago Journal Rankings: 0.967
References

 

DC FieldValueLanguage
dc.contributor.authorYiu, CYen_HK
dc.contributor.authorLu, XHen_HK
dc.contributor.authorLeung, MYen_HK
dc.contributor.authorJin, WXen_HK
dc.date.accessioned2012-10-08T03:31:51Z-
dc.date.available2012-10-08T03:31:51Z-
dc.date.issued2004en_HK
dc.identifier.citationConstruction Management And Economics, 2004, v. 22 n. 4, p. 339-345en_HK
dc.identifier.issn0144-6193en_HK
dc.identifier.urihttp://hdl.handle.net/10722/168729-
dc.description.abstractThe relationship between construction output and economic growth has been well discussed by construction economists. Most of the previous studies found a positive correlation between gross domestic product (GDP) per capita and various measures of construction output. However, cross-sectional analysis was commonly adopted but longitudinal analysis has been called upon. Furthermore, recent research argued that non-linear relationship between GDP and construction output exists because of different stages of economic development in different countries. They explained the phenomenon by means of the change of the growth rates of construction output at different stages of economic development, but the argument has not yet been rigorously tested. With the availability of long time-series of data of Hong Kong construction industry, this paper attempts to test longitudinally the relationship between the real growth rate of construction output and the real growth rate of GDP. It was found that the growth rate of GDP led that of construction output, and as the growth rate of GDP increased, the growth rate of construction output was marginally diminishing. It agrees with the proposition that construction industry is relatively inefficient in productivity improvement and the accumulation of capital investment results in a marginally diminishing growth of construction output. © 2004 Taylor & Francis Ltd.en_HK
dc.languageengen_US
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.aspen_HK
dc.relation.ispartofConstruction Management and Economicsen_HK
dc.subjectConstruction growthen_HK
dc.subjectEconomic developmenten_HK
dc.subjectGDP growthen_HK
dc.subjectHong Kong construction industryen_HK
dc.titleA longitudinal analysis on the relationship between construction output and GDP in Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.emailYiu, CY: ecyyiu@hkucc.hku.hken_HK
dc.identifier.authorityYiu, CY=rp01035en_HK
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1080/0144619042000176465en_HK
dc.identifier.scopuseid_2-s2.0-2942659467en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-2942659467&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume22en_HK
dc.identifier.issue4en_HK
dc.identifier.spage339en_HK
dc.identifier.epage345en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridYiu, CY=9248825800en_HK
dc.identifier.scopusauthoridLu, XH=27170617200en_HK
dc.identifier.scopusauthoridLeung, MY=8275258600en_HK
dc.identifier.scopusauthoridJin, WX=36079413800en_HK

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