International comparisons of construction industry performance: Further investigations

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

1 Citation (Scopus)

Abstract

While there have been many attempts at comparisons of construction performance over the past 50 years, the results have generally been inconclusive and/or contradictory. Such comparisons are of great interest to industry, governments and theorists alike but there is little agreement as to how they are best done. A variety of methodologies have been used, however, the lack of satisfactory outcomes has been due largely to one factor, the lack of a truly reliable method for comparing construction costs in different currencies Exchange rates are recognised as being unsuitable, and while purchasing power parity (PPP) has a long history, the method still has many critics. In addition, the nature of the building industry and its products makes the establishment of reliable construction PPPs very difficult. Both the UN's International Comparison Program (ICP) and the European Union gather data for the production of construction-specific PPP indices, but neither body publishes them, as there is too much doubt about their reliability. New approaches are being developed and some are soon to be trialled. This paper looks at the problems, describes and discusses some new approaches, and assesses their potential.

Original languageEnglish
Title of host publicationQueensland University of Technology Research Week International Conference, QUT Research Week 2005 - Conference Proceedings
EditorsA.C. Sidwell
Publication statusPublished - 2005
Externally publishedYes
EventQueensland University of Technology Research Week International Conference, QUT Research Week 2005 - Brisbane, QLD, Australia
Duration: 4 Jul 20058 Jul 2005

Conference

ConferenceQueensland University of Technology Research Week International Conference, QUT Research Week 2005
CountryAustralia
CityBrisbane, QLD
Period4/07/058/07/05

Fingerprint

Construction industry
Purchasing
Industry
History
Purchasing power parity
Industry performance
International comparison
Costs
Methodology
Government
Construction costs
European Union
Currency
Factors
Exchange rates

Cite this

Best, R., & Langston, C. (2005). International comparisons of construction industry performance: Further investigations. In A. C. Sidwell (Ed.), Queensland University of Technology Research Week International Conference, QUT Research Week 2005 - Conference Proceedings
Best, Rick ; Langston, Craig. / International comparisons of construction industry performance : Further investigations. Queensland University of Technology Research Week International Conference, QUT Research Week 2005 - Conference Proceedings. editor / A.C. Sidwell. 2005.
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Best, R & Langston, C 2005, International comparisons of construction industry performance: Further investigations. in AC Sidwell (ed.), Queensland University of Technology Research Week International Conference, QUT Research Week 2005 - Conference Proceedings. Queensland University of Technology Research Week International Conference, QUT Research Week 2005, Brisbane, QLD, Australia, 4/07/05.

International comparisons of construction industry performance : Further investigations. / Best, Rick; Langston, Craig.

Queensland University of Technology Research Week International Conference, QUT Research Week 2005 - Conference Proceedings. ed. / A.C. Sidwell. 2005.

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

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AB - While there have been many attempts at comparisons of construction performance over the past 50 years, the results have generally been inconclusive and/or contradictory. Such comparisons are of great interest to industry, governments and theorists alike but there is little agreement as to how they are best done. A variety of methodologies have been used, however, the lack of satisfactory outcomes has been due largely to one factor, the lack of a truly reliable method for comparing construction costs in different currencies Exchange rates are recognised as being unsuitable, and while purchasing power parity (PPP) has a long history, the method still has many critics. In addition, the nature of the building industry and its products makes the establishment of reliable construction PPPs very difficult. Both the UN's International Comparison Program (ICP) and the European Union gather data for the production of construction-specific PPP indices, but neither body publishes them, as there is too much doubt about their reliability. New approaches are being developed and some are soon to be trialled. This paper looks at the problems, describes and discusses some new approaches, and assesses their potential.

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Best R, Langston C. International comparisons of construction industry performance: Further investigations. In Sidwell AC, editor, Queensland University of Technology Research Week International Conference, QUT Research Week 2005 - Conference Proceedings. 2005