Tse, R Y C and Ganesan, S (1997) Causal relationship between construction flows and GDP: Evidence from Hong Kong. Construction Management and Economics, 15(4), pp. 371-376. ISSN 01446193
Abstract
Granger causality methodology is used to investigate lead-lag relationships between construction activity and aggregate economy. Using data from Hong Kong, the results of this paper suggest strongly that the GDP tends to lead the construction flow not vice versa. Our finding is contrary to the view that construction is more volatile than the GDP. However, our results show that the construction volatility after 1990 is smaller than that in the period 1983-1989, a result that is particularly important for policymakers in that it is the macroeconomic policy of government that affects output, and influences the construction activity, and not vice versa.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | causality; gdp; Hong Kong; unit root test |
| Index terms: | evidence, methodology, Hong Kong, construction activity, aggregate |
| Subjects: | Geography, research methods, construction operations, materials science, evaluation and assessment methods |
| Topics: | Research Practice, Geographical Context, Engineering Principles, Site Management |
| Descriptive scope: | 3 PTA |
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