Hua, G B (2009) Construction and economic development of four most competitive economies in the world: A comparison. International Journal of Construction Education and Research, 5(4), pp. 261-275. ISSN 1557-8771
Abstract
In the annual ranking of the world's most competitive economies by the World Economic Forum, the top most competitive countries—Singapore, Finland, Denmark, and Sweden—have ranked consistently well over 10 years. This article examines the role played by construction. The proposition contending that a decline in construction volume follows share in highly developed economies guides the analysis. A possible link between the levels of construction and economic competitiveness is considered. The general conclusion is that the roles and importance of construction in the national economy can vary even among countries belonging to the same economic class. Evidence is presented for three cases: 1) a highly developed country with a mature economy; 2) an urban economy or city-state where urbanisation has led it to successfully attain a developed socio-economic status with construction as one of her engines of growth; and 3) those countries that continuously build and modernize their physical infrastructure as a means of fostering productivity growth and investment.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | advanced industrial countries; construction output; economic competitiveness; fiscal policy; keynesian economics; time series statistics |
| Index terms: | urbanization, Singapore, Finland, productivity, Sweden, fiscal policy, national economy, competitiveness, statistics, economic development, time series, physical infrastructure, evidence, developed country, Denmark, construction output |
| Subjects: | mathematical modelling, data science, management, infrastructure and transport systems, evaluation and assessment methods, urban planning, operations management, public policy, economic analysis, economic development, Geography, development economics, market analysis |
| Topics: | International Construction, Governance, Research Practice, Business Strategy, Sustainability, Engineering Principles, Project Management, Geographical Context |
| 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