Buyukyoran, F and Yaman, H (2024) Construction sector dynamics in Turkey: Economic advancements and vulnerabilities. Journal of Construction in Developing Countries, 29(1), pp. 267-291. ISSN 1823-6499
Abstract
The construction sector has strong linkages with other sectors, has enormous potential to absorb unemployment and possesses cyclical characteristics that are sensitive to macroeconomic conditions. It is also commonly regarded as a critical sector for achieving the desired economic growth and development of a country. Therefore, it is important to understand its effects on an economy to develop an appropriate economic policy. This article discussed the construction sector from a macroeconomic perspective in order to gain insight into the sector’s interaction with the economy. The central question was whether a construction-oriented economy could sustain economic growth and development in the long run. Turkey’s developing construction-oriented economy in the 2000s was used as a case study in this research. To this end, macroeconomic data obtained from official data providers were subjected to descriptive statistical analysis. The selection of macroeconomic indicators in this study, such as input costs, gross domestic product and money supply, was based on an economic theory that suggested the significance of these variables in affecting the dynamics of the construction sector. Empirical studies have consistently revealed the interdependence between these macroeconomic variables and the performance of the construction sector, thereby confirming their inclusion in this analysis. The results revealed that a disproportionate allocation of resources to the sector, coupled with misaligned support policies, could be detrimental to the long-term economic landscape.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction-oriented economy; economic growth; economic development; government policy; macroeconomic decisions; Turkey |
| Index terms: | government policy, gross domestic product, economic development, economic theory, economic policy, linkage, statistical analysis, economic indicator, construction sector, interdependence, interaction, macroeconomic variable, Turkey, dynamics, unemployment, case study, vulnerability, empirical study, economic growth |
| Subjects: | Geography, behavioral psychology, economic analysis, organizational analysis, data science, industry analysis, economic development, systems engineering, business, business policy, public policy, research methods, data analysis and analytics, environmental hazards, data collection methods |
| Topics: | Sustainability, Organizational Design, Research Practice, Governance, Business Strategy, Geographical Context, Engineering Principles |
| Descriptive scope: | 5 PCTEA |
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