Gruneberg, S (2008) Modelling the UK built infrastructure market using gross fixed capital formation. In: Dainty, A (ed.) Proceedings of 24th Annual ARCOM Conference, 1-3 September 2008, Cardiff, UK.
Abstract
Built environment infrastructure includes roads, rail, airports, ports, water supply and water treatment. Most models of infrastructure markets use a national income approach to estimate the size of infrastructure markets. Such a top down approach uses a large aggregate to estimate the size of one of its components. Using a bottom-up approach, a combination of construction industry data and gross fixed capital formation, it is possible to find an approximation for infrastructure investment. This takes into account both new build infrastructure and work on existing structures. The proposed model uses official infrastructure data in construction statistics to calculate new build infrastructure and the ratio of repair and maintenance work to new build to estimate total work on existing infrastructure stock. This is then used in combination with gross fixed capital formation to estimate the size of the infrastructure market from gross fixed capital formation. Using this method, the UK data can be used as a benchmark model to estimate and compare infrastructure from gross fixed capital formation for different countries.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | built infrastructure; construction markets; construction statistics; gross fixed capital formation |
| Index terms: | income, estimate, bottom-up approach, repair, modelling, built environment infrastructure, construction industry, markets, construction market, built infrastructure, water supply, aggregate, construction statistics, infrastructure investment, new build |
| Subjects: | economic analysis, financial and cost management, analytical methods, urban planning, materials science, industry analysis, infrastructure and transport systems, market analysis, quantitative and statistical methods, building construction, construction integration, maintenance engineering |
| Topics: | Urban Studies, Governance, Procurement, Engineering Principles, Research Practice, Cost Management, Business Strategy |
| Descriptive scope: | 4 PCTA |
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