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Albert, A and Hallowel, M (2013) Revamping occupational safety and health training: Integrating andragogical principles for the adult learner. Construction Economics and Building, 13(03), 128-140.
Alkilani, S, Jupp, J and Sawhney, A (2013) Issues of construction health and safety in developing countries: a case of Jordan. Construction Economics and Building, 13(03), 141-156.
Alqahtani, A and Whyte, A (2013) Artificial neural networks incorporating cost significant Items towards enhancing estimation for (life-cycle) costing of construction projects. Construction Economics and Building, 13(03), 51-64.
Barnes, L and Croker, N (2013) The relevance of the ISO26000 social responsibility issues to the Hong Kong construction industry. Construction Economics and Building, 13(03), 37-50.
Brewer, G, Gajendran, T and Runeson, G (2013) ICT and innovation: a case of integration in a regional construction firm. Construction Economics and Building, 13(03), 24-36.
Chiu, W Y and Ng, F F (2013) Improvement of job satisfaction and organisational commitment through work group identification: an examination of the quantity surveyors in Hong Kong. Construction Economics and Building, 13(03), 80-95.
Ho, P (2013) Forecasting the manpower demand for quantity surveyors in Hong Kong. Construction Economics and Building, 13(03), 1-12.
Hubbard, B, Huang, Q, Caskey, P and Wang, Y (2013) Safety awareness educational topics for the construction of power transmission systems with smart grid technologies. Construction Economics and Building, 13(03), 114-127.
Jiang, Hjin, X-H and Liu, C (2013) The effects of the late 2000s global financial crisis on Australia’s construction demand. Construction Economics and Building, 13(03), 65-79.
- Type: Journal Article
- Keywords: Vector error correction; intervention analysis; construction demand; the global financial crisis
- ISBN/ISSN: 1837-9133
- URL: https://doi.org/10.5130/AJCEB.v13i3.3602
- Abstract:
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.
Pekuri, A, Pekuri, L and Haapasalo H (2013) The role of business models in Finnish construction companies. Construction Economics and Building, 13(03), 13-23.
Ssegawa, J (2013) Developing a strategic perspective for construction industry of Botswana. Construction Economics and Building, 13(03), 157-172.
Sunindijo and Zou, P (2013) The roles of emotional intelligence, interpersonal skill, and transformational leadership on improving construction safety performance. Construction Economics and Building, 13(03), 97-113.