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Bajaj, D, Oluwoye, J O and Lenard, D (1997) An analysis of contractors' approaches to risk identification in New South Wales, Australia. Construction Management and Economics, 15(04), 363-9.

Bowles, G, Dagpunar, J S and Gow, H (1997) Financial management of planned maintenance for housing associations. Construction Management and Economics, 15(04), 315-26.

Chau, K W (1997) Note - The ranking of construction management journals. Construction Management and Economics, 15(04), 387-98.

Fenn, P (1997) Note - Rigour in research and peer review. Construction Management and Economics, 15(04), 383-5.

Griffith, A and Headley, J D (1997) Using a weighted score model as an aid to selecting procurement methods for small building works. Construction Management and Economics, 15(04), 341-8.

Hatush, Z and Skitmore, M R (1997) Assessment and evaluation of contractor data against client goals using PERT approach. Construction Management and Economics, 15(04), 327-40.

Punwani, A (1997) A study of the growth-investment-financing nexus of the major UK construction groups. Construction Management and Economics, 15(04), 349-61.

Songer, A D, Diekmann, J E and Pecsok, R (1997) Note - Risk analysis for revenue dependent infrastructure projects. Construction Management and Economics, 15(04), 377-82.

Tse, R Y C and Ganesan, S (1997) Note - Causal relationship between construction flows and output: evidence from Hong Kong. Construction Management and Economics, 15(04), 371-6.

  • Type: Journal Article
  • Keywords: causation; GDP; Hong Kong; unit root test
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/014461997372926
  • Abstract:

    Granger causality methodology is used to investigate lead-lag relationships between construction activity and aggregate economy. Using data from Hong Kong, the results of this paper suggest strongly that the GDP tends to lead the construction flow not vice versa. Our finding is contrary to the view that construction is more volatile than the GDP. However, our results show that the construction volatility after 1990 is smaller than that in the period 1983-1989, a result that is particularly important for policymakers in that it is the macroeconomic policy of government that affects output, and influences the construction activity, and not vice versa.