Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/17558
Title: The impact of property price on construction output
Authors: Zheng, X
Chau, KW
Hui, ECM 
Keywords: Autoregressive distributed lag model
Cointegration
Construction output
Forecast
Property price
Issue Date: 2012
Publisher: Routledge, Taylor & Francis Group
Source: Construction management and economics, 2012, v. 30, no. 12, p. 1025-1037 How to cite?
Journal: Construction management and economics 
Abstract: The interaction between the construction market and the overall economy has attracted much attention, but few studies have investigated the influence of the property market on the construction market in terms of property price. The disaggregated data of Hong Kong’s housing and retail construction sectors are collected to investigate the impact of property price on construction output. The newly developed autoregressive distributed lag (ARDL) bounds testing approach and the error correction (EC)-based Granger causality test are employed. The bounds testing results suggest that there exist stable long-run relationships between construction output and property price for both housing and retail construction sectors. Specifically, a 1.00% increase in the housing price and retail price lead to a 0.55% and 0.42% increase in construction outputs for the two sectors respectively. In addition, the Granger causality tests confirm a distinct long-run causal flow from property price to construction output. Furthermore, the proposed ARDL approach provides an effective method for forecasting construction output.
URI: http://hdl.handle.net/10397/17558
ISSN: 0144-6193
EISSN: 1466-433X
DOI: 10.1080/01446193.2012.714872
Appears in Collections:Journal/Magazine Article

Access
View full-text via PolyU eLinks SFX Query
Show full item record

SCOPUSTM   
Citations

2
Last Week
0
Last month
Citations as of Apr 30, 2016

Page view(s)

35
Last Week
1
Last month
Checked on Aug 13, 2017

Google ScholarTM

Check

Altmetric



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.