scholarly journals Convergence Among the Submarkets in Australian Regional Building and Construction Sector

2010 ◽  
Vol 10 (4) ◽  
pp. 11-33 ◽  
Author(s):  
Junxiao Liu ◽  
Kerry London
Keyword(s):  
Residential Building ◽  
Building Construction ◽  
Construction Sector ◽  
Causality Test ◽  
Vector Error Correction ◽  
Construction Firms ◽  
Construction Market ◽  
House Construction ◽  
Econometric Tests ◽  
Market Convergence

Studies on market convergence are well considered in the literature. However, the majority of the previous research focused on housing markets and few studies have concentrated on construction markets. Owing to a simultaneously dramatic increase in the construction prices of the sub-markets in the building construction sector in Australia, this paper aims to identify the convergence among these markets, involving house construction market, other-residential building construction market, and non-residential building construction market. To achieve it the Granger causality test and generalized response function depending on the vector error correction model with the quarterly data of Australia’s eight states from 1998 to 2010 will be applied. Based upon the econometric tests, the price diffusion patterns among these construction markets have been identified. Research on the convergences of construction markets not only helps construction firms perform well in business operations and arbitrage activities, but also provides policy makers with useful information for enacting effective construction policies for national perspectives and approaches to infrastructure planning.

scholarly journals Construction Sector Contribution to Economic Stability: Malaysian GDP Distribution

2021 ◽  
Vol 13 (9) ◽  
pp. 5012
Author(s):  
Wesam Salah Alaloul ◽  
Muhammad Ali Musarat ◽  
Muhammad Babar Ali Rabbani ◽  
Qaiser Iqbal ◽  
Ahsen Maqsoom ◽  
...  
Keyword(s):  
Sustainable Development ◽  
Construction Industry ◽  
Pearson Correlation ◽  
Impulse Response Function ◽  
Equilibrium Analysis ◽  
Construction Sector ◽  
Causality Test ◽  
Vector Error Correction ◽  
The World ◽  
Pearson Correlation Test

The construction sector exerts an exceptional impact on economic development all over the world. Adequate buildings and infrastructures made by the construction sector ensure that a country reaches certain targets like social development, industrialization, freight transportation, sustainable development, and urbanization. This study aims to determine the construction sector’s connectivity with other sectors through complex linkages that contribute immensely to the economy and gross domestic product (GDP). The data were collected from the Department of Statistics Malaysia and the World Bank from the year 1970 to 2019, and the Pearson correlation test, the cointegration test, and the Granger causality test were conducted. The vector error correction model (VECM) was created for short-term and long-term equilibrium analysis and impulse response function (IRF) was performed to study construction industry behavior. Afterwards, the forecasting was done for the year 2020 to 2050 of the Malaysian economy and GDP for the required sectors. It was revealed that some sectors, such as agriculture and services, have forward linkages while other sectors, such as manufacturing and mining, are independent of construction sector causality, which signifies the behavior of the contributing sectors when a recession occurs, hence generating significant revenue. The Malaysian economy is moving towards sustainable production with more emphasis on the construction sector. The outcome can be used as a benchmark by other countries to achieve sustainable development. The significance of this study is its usefulness for experts all over the world in terms of allocating resources to make the construction sector a sustainable sector after receiving a shock. A sustainable conceptual framework has been suggested for global application that shows the factors involved in the growth of the construction industry to ensure its sustainable development with time.

Construction will depend on Greek consumer confidence

2019 ◽  
Keyword(s):  
Residential Building ◽  
Investment Climate ◽  
Construction Sector ◽  
Public Infrastructure ◽  
Sharp Drop ◽  
Content Type ◽  
Construction Firms ◽  
Main Driver ◽  
D Investment ◽  
Skill Shortages

Subject Construction sector. Significance Before 2009, construction was a main driver of domestic economic growth. Subsequently, a sharp drop in residential building and a decline in public infrastructure spending reduced output to half the pre-crisis level. Impacts The lower participation of those up to 25 years old post-crisis is likely to lead to future skill shortages. A drop in R&D investment and innovation will undermine construction firms’ future competitiveness. The improved investment climate under the new government should support net FDI into real estate, after record levels in 2018.

Does educational progress impact energy consumption? A causality test for India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Soumen Rej ◽  
Barnali Nag
Keyword(s):  
Energy Consumption ◽  
Energy Supply ◽  
Causality Test ◽  
Content Type ◽  
Vector Error Correction ◽  
Educational Advancement ◽  
Long Run ◽  
Short Run ◽  
Development Goals ◽  
Per Capita

Purpose Both energy and education have been positioned as priority objectives under the itinerary of UN development goals. Hence, it is necessary to address the implicit inter relationship between these two development goals in the context of developing nations such as India who are trying to grow in both per capita income and socio economic factors whilst struggling with the challenges of a severe energy supply constrained economy. Design/methodology/approach In the present study, the causal relationship between energy consumption per capita and education index (EI) as a proxy of educational advancement is investigated for India for 1990–2016 using the Johansen-Juselius cointegration test and vector error correction model. Findings The empirical results infer although energy consumption per capita and EI lack short run causality in either direction, existence of unidirectional long run causality from EI to per capita energy consumption is found for India. Further, it is observed that energy consumption per capita takes around four years to respond to unit shock in EI. Research limitations/implications The findings from this study imply that with the advancement of education, a rise in per capita energy consumption requirement can be foreseen on the demand side, and hence, India’s energy policy needs to emphasize further its sustainable energy supply goals to meet this additional demand coming from a population with better education facilities. Originality/value The authors hereby confirm that this manuscript is entirely their own original study and not submitted elsewhere.

The relationship between energy consumption and economic growth: New evidence from Greece

2021 ◽  
pp. 131-153
Author(s):  
Antonia Gkergki
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Gdp Per Capita ◽  
Short Term ◽  
Vector Error Correction ◽  
Per Capita ◽  
Econometric Tests ◽  
The Government ◽  
New Research ◽  
The Relationship

This paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.

scholarly journals Macroeconomic Variables and Foreign Direct Investment Inflows in Turkey

2019 ◽  
Vol 8 (2) ◽  
Author(s):  
Saliha Meftah ◽  
Abdelkader Nassour
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Short Term ◽  
Causality Test ◽  
Correction Model ◽  
Vector Error Correction ◽  
Macroeconomic Variables ◽  
Vector Error ◽  
Causality Relationship

Foreign direct investment (FDI) is an essential factor in the development of a country. This study aims to examine what factors influence foreign direct investment. By using the vector error correction model, the research shows that there is a long-term causality relationship between exchange rates and inflation with FDI. However, in the short term, there are no variables that affect FDI. Besides, the Granger causality test shows causality in the direction of GDP and FDI, while other variables do not have causality. This research has implications for policymakers to pay attention to macroeconomic variables in increasing the flow of foreign direct investment.

scholarly journals Economic Growth and Unemployment Nexus in USA

2019 ◽  
Vol 8 (4) ◽  
pp. 1317-1325
Keyword(s):  
Growth Rate ◽  
Error Correction ◽  
Unemployment Rate ◽  
High Speed ◽  
Empirical Relationship ◽  
Var Model ◽  
Output Gap ◽  
Causality Test ◽  
Vector Error Correction ◽  
Vector Error

Empirical relationship between unemployment and growth is not pronounced as we investigate the economic scenario of the nations. Author attempted to relate US unemployment rate to the growth during 1948-2016 by using bivariate and log regression models, Bai-Perron Model, Granger Causality test, Johansen cointegration test, vector auto regression and vector error correction models. Even, author also verified relationship between unemployment gap, output gap and growth in USA during the same period. Data on US unemployment rate, GDP and growth rate have been taken from Bureau of US census during 1948-2016. Data on US natural rate of unemployment was taken from Fed Bank of St.Louis from 1949 to 2016.The paper concludes that US unemployment rate is increasing at the rate of 0.507 per cent per annum and it has upward structural break in 1971.The nexus follows the Okun’s law in USA. US unemployment is negatively related with growth rate during 1948-2016.Their relationships are causal and cointegrated. VAR model is stable and stationary. Residual test showed non-normality and autocorrelations.Moreover, author showed negative relation between growth and unemployment gap in USA during 1949-2016.They have no causality and cointegration. Their VAR model is stable and stationary. The residual test proved non-normality and auto-correlation problems. Perceptible output gap influences unemployment gap negatively during 1949-2016 .It has significant bi-directional causality and one cointegrating equation. In Vector error correction model, error corrections are significant with high speed having stability, autocorrelation and non-normality. The rate of decline in unemployment rate due to increased growth rate in USA during 1948-2016 was marginal.

scholarly journals Relationship between Financial Liberalization and Economic Growth in Emerging Economies: The Case of Vietnam

2016 ◽  
Vol 23 (01) ◽  
pp. 25-49
Author(s):  
Hoang Tran Huy ◽  
Huan Nguyen Huu ◽  
Linh Nguyen Thi Thuy
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Financial Liberalization ◽  
Response Analysis ◽  
Causality Test ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Term Relation

This paper examines the process of financial liberalization in Vietnam over the period from 1993 to 2013. On adopting Vector Error Correction Model (VECM), the results suggest that there is a long-term relation between economic growth and financial liberalization, in which the financial market liberalization and financial services liberalization provide better support during the growth of Vietnam’s economy. In addition, using various techniques including Granger causality test, impulse response analysis, and variance decomposition, the paper also clarifies the motives for financial liberalization from the process of short-term financial development and economic growth in the country.

scholarly journals Analysis of Construction Technology of High-rise Residential Building Engineering

2017 ◽  
Vol 1 (3) ◽  
Author(s):  
Qiu Hao
Keyword(s):  
High Speed ◽  
Residential Buildings ◽  
Residential Building ◽  
Management Control ◽  
Building Construction ◽  
Construction Technology ◽  
Land Resources ◽  
High Rise ◽  
Social Economic Development ◽  
Building Engineering

Nowadays, under the  situation  of  the accelerating  process  of urbanization,  our  social economic development has also been leaps and bounds and  the  corresponding construction industry has also been high speed developed. Our country in the field of land resources still insist on a solid  strict  management control, therefore, in this context,it will inevitably lead the land resources to face with a tense situation which has become a great test forhigh-rise residential building construction as it appears repeatedly.  Normally, high-rise residential buildings have the characteristics of limited operating surface, high investment  cost,  long construction period and high requirements of construction technology. In view of this, this paper mainly analyzes the high-rise residential building construction technology.

Sign in / Sign up

Export Citation Format

Share Document