Chia, F C (2012) Construction and economic development: The case of Malaysia. International Journal of Construction Management, 12(1), pp. 23-35. ISSN 1562-3599
Abstract
The construction sector plays a crucial role in economic development. The causal link between construction activity and economic development in Malaysia is examined. Granger causality methodology was employed to investigate the lead-lag relationships between the construction flow and the GDP of Malaysia on the quarterly time series between 2000Q1 and 2009Q4 and the yearly time series between 1970 and 2009. The quarterly data shows two-way direction of relationship between the construction and the overall economy. The yearly data shows a unidirectional causality running from construction sector to the aggregate economy. It concluded that the construction activity may cause changes in GDP but GDP does not adjust instantaneously to change in construction activity. The result is expected to be useful for policymakers and industrial practitioners in formulating industrial policies and corporate strategies.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | economic activities; economic development; Granger causality; macroeconomic |
| Index terms: | economic activity, Malaysia, corporate strategy, aggregate, construction activity, methodology, practitioner, construction sector, economic development, time series, industrial policy |
| Subjects: | research methods, economic development, Geography, industry analysis, business, practitioner, materials science, economic analysis, construction operations, data science |
| Topics: | Site Management, Governance, Sustainability, Roles and Professions, Engineering Principles, Geographical Context, Research Practice, Business Strategy |
| Descriptive scope: | 3 PCT |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here