Olanipekun, A O and Saka, N (2019) Response of the Nigerian construction sector to economic shocks. Construction Economics and Building, 19(2), pp. 160-180. ISSN 2204-9029
Abstract
The construction sector (CS) is an economic barometer that mirrors the state of the economy. Therefore, the construction sector is susceptible to economic impacts. This study investigated the impact of economic shocks (measured with the Gross Domestic Product (GDP)) on construction sector performance. The study used econometric methodology which involves several sequential procedure including unit root test, cointegration test, causality and exogeneity tests. The data used was the Annualized time series data about GDP and construction sector. The data were extracted from the United Nations Statistics Division database based on the year 2010 US Dollars price over a forty seven (47) year period (1970-2016). The study found that the GDP significantly caused the construction sector output in all tests investigated. The study concluded that the construction sector significantly responded to economic shocks in both the short and long run. The study recommended that government should develop a policy framework that supports a concurrent development of the economy and the construction sector in Nigeria.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction sector; econometric methodology; government; gross domestic product |
| Index terms: | statistics, econometric, construction sector, economic impact, methodology, Nigeria, database, United Nations, gross domestic product, cointegration, time series |
| Subjects: | mathematical modelling, data science, economic analysis, institutional frameworks, Geography, research methods, industry analysis, financial analysis, data management |
| Topics: | Governance, Cost Management, Business Strategy, Research Practice, Geographical Context, Digital Applications |
| 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