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Title: Causal relationship between construction activities, employment and GDP : the case of Hong Kong
Authors: Chiang, YH 
Tao, L
Wong, FKW 
Keywords: Construction sectors
Economic development
Granger causal relationship
Hong Kong
Issue Date: 2015
Publisher: Pergamon Press
Source: Habitat international, 2015, v. 46, p. 1-12 How to cite?
Journal: Habitat international 
Abstract: The causal relationship between construction activities and economic development has been extensively studied worldwide. However, the results of these studies are generally inconclusive. Thus, sub-sectors of the construction industry and variances across different periods require further examination. Accordingly, this study aims to fill the knowledge gap. In the case of Hong Kong and with a longer time series, bidirectional causality links between gross domestic product (GDP) and construction activities are found. The correlations of employment with GDP and construction also suggest that employment can be a medium or a mediating or intervening factor of GDP growth. Different causal relationships are observed between the various sub-sectors of the construction industry and GDP in different periods. Bon's inverted U-shaped relationship between the contribution of construction activities to GDP and economic development is supported by our case analysis of Hong Kong. With a long timeframe, our study draws statistically significant conclusions on the contribution of construction activities to the economy. The results of this study may inform the formulation of long-term public policies for sustainable industrial development.
ISSN: 0197-3975
DOI: 10.1016/j.habitatint.2014.10.016
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