Current and Future Trends of Resource Misallocation in the Construction Industry: A Bibliometric Review with Grounded Theory

Resource misallocation (RM) refers to the existence of marginal output inequalities between different industries or companies in an economy. Prior studies of RM have mostly focused on effect analysis, construction industry structure upgrades, and organization management. However, these studies have been fragmented and unrelated. This paper analyzes the status quo, consequences, and emerging trends of RM research at the macroscopic level based on current problems and with the aim of exploring potential solutions. Drawing on grounded theory, a qualitative analysis using text-mining is used to analyze the characteristics of 124 RM-related papers. The results more comprehensively and systematically reveal that current RM research encompasses four major dimensions of sources and concepts, misallocation degree measurement and characterization, focused issues (field), and RM research deficiencies. Methods for measuring RM have also been developed from the simple proportional method to current mainstream methods (e.g., growth rate decomposition and variant substitution). We conclude that, in order for this discipline to thrive and effectively reduce RM, future research into RM should focus on core categories, especially the reform of market-oriented factors, transformation of government functions, construction industrial structure adjustment, and methods of income distribution. This systematic review provides a discipline oversight and uncovers necessary and potential research directions.