File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Construction and economic development: The case of Hong Kong

TitleConstruction and economic development: The case of Hong Kong
Authors
KeywordsBon curve
Construction industry
Economic development
Hong Kong
Investments
Issue Date2008
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.asp
Citation
Construction Management And Economics, 2008, v. 26 n. 8, p. 813-824 How to Cite?
AbstractThe role of construction in economic development is an important issue facing the construction research community, government and international development agencies. Based on empirical analyses, the complexities of the relationship between construction activity and stage of economic development in Hong Kong were examined. With time series data, Granger causality test results show that the construction output particularly the infrastructure sector drives the economic growth of Hong Kong, and not vice versa. Findings further indicate that the role of the local construction industry changes as the economy matures from newly industrializing country (NIC) to advanced industrialized country (AIC) status, as revealed by the diminishing rate of capacity addition by construction as well as the growing maintenance and repair sector. This complies with Bon's inverted U-shaped relationship between construction activity and gross domestic product (GDP). However, the proposition of 'volume follows share' is not supported since the indigenous construction investments still sustain for the service-oriented economy which inevitably needs commercial development and logistics infrastructure to provide the services. The results may be significant for policy makers in NICs, in the long run, to formulate corporate and industrial policies to chart out a viable and sustainable course to revive the vigour of the industry.
Persistent Identifierhttp://hdl.handle.net/10722/58592
ISSN
2015 SCImago Journal Rankings: 0.967
References

 

DC FieldValueLanguage
dc.contributor.authorWong, JMWen_HK
dc.contributor.authorChiang, YHen_HK
dc.contributor.authorNg, TSen_HK
dc.date.accessioned2010-05-31T03:33:03Z-
dc.date.available2010-05-31T03:33:03Z-
dc.date.issued2008en_HK
dc.identifier.citationConstruction Management And Economics, 2008, v. 26 n. 8, p. 813-824en_HK
dc.identifier.issn0144-6193en_HK
dc.identifier.urihttp://hdl.handle.net/10722/58592-
dc.description.abstractThe role of construction in economic development is an important issue facing the construction research community, government and international development agencies. Based on empirical analyses, the complexities of the relationship between construction activity and stage of economic development in Hong Kong were examined. With time series data, Granger causality test results show that the construction output particularly the infrastructure sector drives the economic growth of Hong Kong, and not vice versa. Findings further indicate that the role of the local construction industry changes as the economy matures from newly industrializing country (NIC) to advanced industrialized country (AIC) status, as revealed by the diminishing rate of capacity addition by construction as well as the growing maintenance and repair sector. This complies with Bon's inverted U-shaped relationship between construction activity and gross domestic product (GDP). However, the proposition of 'volume follows share' is not supported since the indigenous construction investments still sustain for the service-oriented economy which inevitably needs commercial development and logistics infrastructure to provide the services. The results may be significant for policy makers in NICs, in the long run, to formulate corporate and industrial policies to chart out a viable and sustainable course to revive the vigour of the industry.en_HK
dc.languageengen_HK
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.subjectBon curveen_HK
dc.subjectConstruction industryen_HK
dc.subjectEconomic developmenten_HK
dc.subjectHong Kongen_HK
dc.subjectInvestmentsen_HK
dc.titleConstruction and economic development: The case of Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0144-6193&volume=26&issue=8&spage=813&epage=824&date=2008&atitle=Construction+and+economic+development:+The+case+of+Hong+Kongen_HK
dc.identifier.emailNg, TS:tstng@hkucc.hku.hken_HK
dc.identifier.authorityNg, TS=rp00158en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1080/01446190802189927en_HK
dc.identifier.scopuseid_2-s2.0-50349097889en_HK
dc.identifier.hkuros148418en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-50349097889&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume26en_HK
dc.identifier.issue8en_HK
dc.identifier.spage813en_HK
dc.identifier.epage824en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridWong, JMW=30067976000en_HK
dc.identifier.scopusauthoridChiang, YH=7201593363en_HK
dc.identifier.scopusauthoridNg, TS=7403358853en_HK
dc.identifier.citeulike3139760-

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats