Abstract
Economic theory suggests that construction investment varies directly with business and consumer confidence in national economic situation and inversely with price changes and interest rate. Studies of public and private sectors new housing and other new construction works using OLS regression analysis on UK data reveal the time lags and dynamics of these relationships. The time lags reveal the question of how rapid the construction investment could respond to changes in these underlying economic factors, as this may substantially determine private and public sector construction investment policies.
Original language | English |
---|---|
Title of host publication | Management, Quality and Economics in Building |
Publisher | CRC Press |
Chapter | 168 |
Pages | 1538-1550 |
Number of pages | 13 |
ISBN (Electronic) | 0203973488, 9781135828684 |
ISBN (Print) | 0419174702, 9780419174707 |
DOIs | |
Publication status | Published - 1 Jan 2006 |
Externally published | Yes |