A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
The effects of the late 2000s global financial crisis on Australia’s construction demand
An accurate measurement of the impacts of external shocks on construction demand will enable construction industry policymakers and developers to make allowances for future occurrences and advance the construction industry in a sustainable manner. This paper aims to measurethe dynamic effects of the late 2000s global financial crisis on the level of demand in the Australian construction industry. The vector error correction (VEC) model with intervention indicators is employed to estimate the external impact from the crisis on a macro-level construction economic indicator, namely construction demand. The methodology comprises six main stages to produce appropriate VEC models that describe the characteristics of the underlying process. Research findings suggestthat overall residential and non-residential construction demand were affected significantly by the recent crisis and seasonality. Non-residentialconstruction demand was disrupted more than residential construction demand at the crisis onset. The residential constructionindustry is more reactive and is able to recover faster following the crisis in comparison with the non-residential industry. The VEC model with intervention indicators developed in this study can be used as an experiment for an advanced econometric method. This can be used to analyse the effects of special eventsand factors not only on construction but also on other industries.
The effects of the late 2000s global financial crisis on Australia’s construction demand
An accurate measurement of the impacts of external shocks on construction demand will enable construction industry policymakers and developers to make allowances for future occurrences and advance the construction industry in a sustainable manner. This paper aims to measurethe dynamic effects of the late 2000s global financial crisis on the level of demand in the Australian construction industry. The vector error correction (VEC) model with intervention indicators is employed to estimate the external impact from the crisis on a macro-level construction economic indicator, namely construction demand. The methodology comprises six main stages to produce appropriate VEC models that describe the characteristics of the underlying process. Research findings suggestthat overall residential and non-residential construction demand were affected significantly by the recent crisis and seasonality. Non-residentialconstruction demand was disrupted more than residential construction demand at the crisis onset. The residential constructionindustry is more reactive and is able to recover faster following the crisis in comparison with the non-residential industry. The VEC model with intervention indicators developed in this study can be used as an experiment for an advanced econometric method. This can be used to analyse the effects of special eventsand factors not only on construction but also on other industries.
The effects of the late 2000s global financial crisis on Australia’s construction demand
Heng Jiang (author) / Xiao-Hua Jin (author) / Chunlu Liu (author)
2013
Article (Journal)
Electronic Resource
Unknown
Metadata by DOAJ is licensed under CC BY-SA 1.0
The effects of the late 2000s global financial crisis on Australia’s construction demand
| BASE | 2013
The effects of the late 2000s global financial crisis on Australia’s construction demand
| DOAJ | 2013
Did the late-2000s financial crisis influence construction labour productivity?
| Taylor & Francis Verlag | 2014
Did the late-2000s financial crisis influence construction labour productivity?
| British Library Online Contents | 2014
Did the late-2000s financial crisis influence construction labour productivity?
| British Library Online Contents | 2014