Crosthwaite, D (2000) The global construction market: A cross-sectional analysis. Construction Management and Economics, 18(5), pp. 619-627. ISSN 01446193
Abstract
Construction is a major industry throughout the world accounting for a sizeable proportion of most countries gross domestic product (GDP). According to a recent survey, total world construction spending in 1998 was over $3 trillion. Furthermore the importance of the construction sector is related not only to its size but also to its role in economic development. This paper examines the extent of international construction activity, and is based on a cross-sectional analysis of published data pertaining to global construction spending. The principal findings suggest that the role of construction changes as economic development proceeds. It was found that the share of construction spending in GDP first grows during less developed country (LDC) status, peaks during newly industrializing country (NIC) status and then declines as countries move from NIC to advanced industrialized country (AIC) status. The research identifies the importance of construction within NICs. The regions of Asia and Latin America and the countries of China, Mexico, Argentina and Egypt are considered noteworthy in regard to various indicators concerned with construction and economic activity. However, the conclusion is that as economic development proceeds from NIC to AIC status construction fails to maintain its share of GDP and therefore declines in importance.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cross-sectional analysis; economic development; global construction activity; national markets; regional markets |
| Index terms: | gross domestic product, international construction, global construction, markets, Egypt, economic activity, Argentina, economic development, Mexico, survey, developed country, construction spending, Asia, accounting, China, construction sector |
| Subjects: | industry analysis, economic development, Geography, development economics, regions and continents, economic analysis, strategic management, data collection methods |
| Topics: | Geographical Context, Research Practice, Business Strategy, Sustainability, International Construction |
| Descriptive scope: | 5 PCTEA |
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