Lowe, J G (1990) The fixed capital stock in use by the UK construction industry. Construction Management and Economics, 8(1), pp. 63-75. ISSN 01446193
Abstract
The study of technological change and productivity in the construction industry requires the development of some measure of the fixed capital stock available to the industry. There are serious theoretical and methodological weaknesses in the traditional neo-classical approaches to valuation of the capital stock. This paper is intended to overcome some of those problems in so far as they affect the construction industry and to present a suitable method of measurement using readily available published statistics. The paper also considers a method of deriving the average age of the capital stock from the estimated value of capital so calculated. This will help to facilitate empirical checks on the assumptions used and will also provide another dimension of technical change.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | buildings; capital; depreciation; plant; vehicles |
| Index terms: | statistics, dimension, construction industry, capital stock, technological change, productivity, method of measurement |
| Subjects: | industry analysis, management, financial and cost management, economic analysis, health monitoring assessment and metrics, mathematical modelling, innovation studies |
| Topics: | Research Practice, Health and Safety, 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