Role of construction in economic development: Review of key concepts in the past 40 years

Giang, Dang Thu; Pheng, Low Sui

doi:10.1016/j.habitatint.2010.06.003

Cited by 208 publications

(123 citation statements)

References 52 publications

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“…The economic efficiency of CEIC includes the efficiencies of labor input, capital investment, and energy investment, which contribute to sustainable development of business environments [92][93][94][95]. The construction enterprises with strong dynamic capabilities are highly entrepreneurial, with innovation-capability uncertainty, and are highly vulnerable to innovation environments.…”

Section: Construction Enterprise's Innovation Capability (Ceic)mentioning

confidence: 99%

“…On average, researchers used between five and 25 companies with time durations of one to four consecutive years for validation or verification in research projects [92][93][94][95][96][97][98]. Additional data were collected from internal sources such as HR, intellectual property, government support, enterprise, innovation investment, management reports, secretarial files, and electronic records.…”

Section: Data Collectionmentioning

confidence: 99%

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A New Systematic Approach to Vulnerability Assessment of Innovation Capability of Construction Enterprises

et al. 2015

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Abstract:The purpose of this research is to study the vulnerability of construction enterprises' innovation capabilities (CEIC) and their respective primary influencing factors. This paper proposed a vulnerability system framework of CEIC, designed two comprehensive assessments for analysis, namely the entropy and set pair analysis method (E-SPA) and the principle cluster analysis and SPA method (P-SPA), and compared grades to verify the vulnerability assessments. Further, the paper quantitatively assessed the major influencing factors in facilitating management, reducing vulnerability, and improving the ability of construction enterprises to respond to changes in the construction industry. The results showed that vulnerability could be effectively and systematically evaluated using E-SPA. However, managing or reducing entrepreneurial sensitivity and improving the ability to respond was critical to supporting sustainable CEIC. The case studies included in this paper suggested that in ensuring sustainable CEIC, companies should concentrate on highly educated human resources, R&D investments, intellectual property related innovations, and government support. This research provided a practical framework and established a sustainable strategy for companies to manage their vulnerability in developing innovation capability. In addition, this research presented an innovative and effective way to quantitatively analyze vulnerability which offered a foundation to signify a new paradigm shift in construction sustainable development.

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Section: Construction Enterprise's Innovation Capability (Ceic)mentioning

confidence: 99%

Section: Data Collectionmentioning

confidence: 99%

A New Systematic Approach to Vulnerability Assessment of Innovation Capability of Construction Enterprises

et al. 2015

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“…The growth drivers of the construction industries, such as the influences of technological innovation and strategies to transparently build up a company's drivers in order to overcome the difficulties in the transformation period, have caught the attention of researchers [35][36][37]. Growth drivers also may include renovating construction patterns, integrating external information, implementing project knowledge management, and developing the brand [19,[38][39][40][41].…”

Section: Growth Driversof the Construction Industrymentioning

confidence: 99%

Analysis and Potential Application of the Maturity of Growth Management in the Developing Construction Industry of a Province of China: A Case Study

Zhang

Wang

2017

Sustainability

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Construction industry is one of the major drivers of the economic sustainability of China's provinces. An investigation of the status of the construction industry in China is needed to find out its maturity and health. The results of this investigation may help China define the impact factors required in order to promote the growth level of its construction industry. This research assesses the growth level of the construction industry in Shaanxi Province, China. This study utilizes both the original average score method and the newer entropy method to analyze the growth level of the construction industry based on its growth management model and growth drivers. An empirical survey of this research includes 123 construction companies in Shaanxi Province. The results show that the entropy method is better than the average score method to use when analyzing the maturity status of a local industry for future development. The maturity level of Shaanxi's construction industry lies on the second tier in a four-tier ranking system. The advanced professional skills of project management are critically needed for future growth. Brand building is the most important factor needed to drive up Shaanxi's construction industry. Standardization, knowledge management through lessons learned, and cost management for budget control by using information systems are required for Shaanxi's construction project management. The Excellent Project Management Model of China is often used in Chinese project knowledge management. After maturity analysis, China's local industries would be able to develop a sustainable strategy for optimizing their outcomes by removing the hurdles preventing future growth.

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“…Excessive supply of construction outputs even caused recessions in Southeast Asia in 1997, in Singapore in 1985, and in Trinidad and Tobago around the same time (Ganesan, 2000;Lewis, 1984). Thus, excessive growth of construction activity might negatively affect the macroeconomic stability by misallocation and waste of resources (Giang and Pheng, 2010). In fact, these scholars reported that production capacity should be accounted for, to avoid overestimating the positive impact of construction investment on economic growth.…”

Section: Introductionmentioning

confidence: 99%

Comparative empirical analysis of temporal relationships between construction investment and economic growth in the United States

Ahmadi

Shahandashti

2017

CEB

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The majority of policymakers believe that investments in construction infrastructure would boost the economy of the United States (U.S.). They also assume that construction investment in infrastructure has similar impact on the economies of different U.S. states. In contrast, there have been studies showing the negative impact of construction activities on the economy. However, there has not been any research attempt to empirically test the temporal relationships between construction investment and economic growth in the U.S. states, to determine the longitudinal impact of construction investment on the economy of each state. The objective of this study is to investigate whether Construction Value Added (CVA) is the leading (or lagging) indicator of real Gross Domestic Product (real GDP) for every individual state of the U.S. using empirical time series tests. The results of Granger causality tests showed that CVA is a leading indicator of state real GDP in 18 states and the District of Columbia; real GDP is a leading indicator of CVA in 10 states and the District of Columbia. There is a bidirectional relationship between CVA and real GDP in 5 states and the District of Columbia. In 8 states and the District of Columbia, not only do CVA and real GDP have leading/lagging relationships, but they are also cointegrated. These results highlight the important role of the construction industry in these states. The results also show that leading (or lagging) lengths vary for different states. The results of the comparative empirical analysis reject the hypothesis that CVA is a leading indicator of real GDP in the states with the highest shares of construction in the real GDP. The findings of this research contribute to the state of knowledge by quantifying the temporal relationships between construction investment and economic growth in the U.S. states. It is expected that the results help policymakers better understand the impact of construction investment on the economic growth in various U.S. states.

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Role of construction in economic development: Review of key concepts in the past 40 years

Cited by 208 publications

References 52 publications

A New Systematic Approach to Vulnerability Assessment of Innovation Capability of Construction Enterprises

A New Systematic Approach to Vulnerability Assessment of Innovation Capability of Construction Enterprises

Analysis and Potential Application of the Maturity of Growth Management in the Developing Construction Industry of a Province of China: A Case Study

Comparative empirical analysis of temporal relationships between construction investment and economic growth in the United States

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