Ramsaran, R and Hosein, R (2006) Growth, employment and the construction industry in Trinidad and Tobago. Construction Management and Economics, 24(5), pp. 465-474. ISSN 1466433X
Abstract
Trinidad and Tobago is a small open oil- and gas-based economy that has experienced the effects of boom and bust and the associated fluctuations in income and employment. This paper focuses on the behaviour of the construction sector and its relationship to income and employment over the last three decades in this small oil-rich economy. In the boom period the construction sector grew twice as fast as the rest of the economy. Similarly, during the recession the construction sector contracted faster than any other sector, providing proof that the multiplier operates in both directions. The correlation coefficient between construction labour productivity and per capita GDP for the period 1973-2002 was 0.70. As pertains to employment in construction per thousand population and per capita GDP, the correlation coefficient was 0.94.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction; correlation; employment |
| Index terms: | productivity, employment, recession, construction industry, Trinidad and Tobago, income, construction labour, construction sector, population |
| Subjects: | economic analysis, Geography, management, industry analysis, demography |
| Topics: | Business Strategy, Geographical Context, Research Practice, Urban Studies, Human Resources, Site Management |
| 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