Tan, W (1996) The elasticity of capital-labour substitution in Singapore construction. Construction Management and Economics, 14(6), pp. 537-542. ISSN 01446193
Abstract
A central issue in improving construction productivity is the flexibility in which capital and labour may be substituted. Empirical estimation using Singapore data suggests that the hypothesis of a unitary elasticity of substitution cannot be rejected:, thereby providing justification for policy measures to alter the relative prices of factor inputs to encourage mechanisation in construction. The finding is consistent with an earlier study on the American construction industry as well as numerous production function studies conducted for other industries.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | elasticity of substitution; productivity |
| Index terms: | estimation, productivity, Singapore, construction industry, construction productivity, policy measure |
| Subjects: | industry analysis, Geography, management, financial and cost management, operations management, policy studies |
| Topics: | Project Management, Geographical Context, Research Practice, Business Strategy, Cost Management, Governance |
| Descriptive scope: | 3 PCT |
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