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Abdul-Aziz, A-R and Hussin, A-A (2003) Construction Safety in Malaysia: A Review of Industry Performance and Outlook for the Future. Journal of Construction Research, 4(02), 141–53.
Al-Muyeed, A and Afrin, R (2005) Effect of masonry infill for reducing the sway of rc frame using finite element modeling. Journal of Construction Research, 6(02), 293–306.
Alani, A M, Petersen, A K, Chapman, K G and Khosrowshahi, F (2004) A proposed quantitative model for building repair and maintenance -theory, model development and application. Journal of Construction Research, 5(02), 193–210.
Asad, S and Dainty, A R J (2005) Job motivational factors for disparate occupational groups within the UK construction sector: a comparative analysis. Journal of Construction Research, 6(02), 223–36.
Barot, B (2002) Growth and business cycles for the Swedish economy. Journal of Construction Research, 3(02), 217–53.
- Type: Journal Article
- Keywords: growth accounting; labour productivity; total factor productivity; growth dynamics; Granger causality; recursive Chow tests; crosses correlations; Hodrick-Prescott filtering; leads and lags
- ISBN/ISSN: 1609-9451
- URL: http://www.worldscinet.com/jcr/03/0302/S1609945102000242.html
- Abstract:
This paper consists of two parts. In the first part we carry out a traditional growth accounting exercise for the private business sectors of the Swedish economy. A search for structural breaks during the sample period, using Chow tests with a dynamic specification of Total Factor Productivity (TFP) growth rates, and Granger causality tests are carried out for the nine sectors of the Swedish economy. We combine the growth rates of value added and hours worked and calculate labour productivity for the period 1960-1999. In order to facilitate comparisons we present Swedish and international results. To a large extent we are able to replicate the Swedish results. The slow down in TFP growth rates in the 1970s can be identified with the first and the second oil shocks in 1973 and 1979. The other structural breaks occurred in the early 1990s and could possibly be identified with the tax reform of the century in 1991 and the severest of recessions that took place in the Swedish economy. The Granger causality tests indicate that growth rates in investment Granger causes growth rates in TFP for agriculture and the financial institutions, real estate and other business, while TFP growth rates in mining and quarrying, and manufacturing granger causes growth rates in investment. In the second part of the paper, Hodrick-Prescott filter the data, and calculate cross correlations of detrended outputs, hours, investment leads and TFP at different leads and lags. The results indicate that investment leads TFP for agriculture, hunting, forestry and fishing, electricity gas and water, and for education, health and social work and community social and personal services. Investment lags TFP for the mining and quarrying, manufacturing industry, and for financial institutions and insurance companies, real estate renting and business service companies. Hours worked lead the TFP cycle for mining and quarrying, manufacturing and wholesale/retail trade. The decomposition of TFP into trend and cyclical component dates the business cycle. Standard deviations on the cyclical components of value added , hours worked, TFP, and gross investment reveals that the most volatile variables are gross investment, followed by TFP, GPD and hours worked.. The contribution of this part of the paper lies in the disaggregated data set containing annual information for the period 1963-1999, and in the application of several analytical tools to the growth accounting exercise has not been carried out for the private business sectors of the Swedish economy.
Barton, R T (2000) Soft value management methodology for use in project initiation: a learning journey. Journal of Construction Research, 1(02), 109–22.
Blyth, K, Lewis, J and Kaka, A (2004) Predicting project and activity duration for buildings in the UK. Journal of Construction Research, 5(02), 329–47.
Chan, E H W and Chan, A T S (2002) Development of professional system in the construction industry of China. Journal of Construction Research, 3(02), 271–84.
Chan, E H W, Suen, H C H and Chan, S-L (2005) An integrated project extranet design prototype: E-AEC for architects, engineers and contractors in Hong Kong and Mainland China. Journal of Construction Research, 6(02), 253–71.
Chau, K W, Poon, S W, Wang, Y S and Lu, L L (2005) Technological progress and the productive efficiency of construction firms in Hong Kong, 1981-2001. Journal of Construction Research, 6(02), 195–207.
Collins, A and Baccarini, D (2004) Project success -a survey. Journal of Construction Research, 5(02), 211–31.
Deacon, C and Smallwood, J (2003) Health Promotion in South African Construction. Journal of Construction Research, 4(02), 129–40.
Devapriya, K A K and Pretorius, F (2002) The economic implication of project finance arrangements for BOO/BOT power projects in Asia. Journal of Construction Research, 3(02), 285–309.
Edwards, D J (2003) Accident trends involving construction plant: an exploratory analysis. Journal of Construction Research, 4(02), 161–73.
English, J (2002) The communication problems experienced by workforce on site, and their possible solutions. Journal of Construction Research, 3(02), 311–21.
Fong, P S-W (2000) Facilitated team learning in value management teams. Journal of Construction Research, 1(02), 99–107.
Frimpong, Y and Oluwoye, J (2003) Significant factors causing delay and cost overruns in construction of groundwater projects in Ghana. Journal of Construction Research, 4(02), 175–87.
Han, S H and Diekmann, J (2004) Judgment-based cross-impact method for predicting cost variance for highly uncertain projects. Journal of Construction Research, 5(02), 171–92.
Haupt, T C and Smallwood, J (2004) HIV and AIDS in SA construction: attitudes and perceptions of workers. Journal of Construction Research, 5(02), 311–27.
Holt, G D and Faniran, O (2000) Construction management research: a blend of rationalist and interpretative paradigms. Journal of Construction Research, 1(02), 177–82.
Kwon, A H C, Then, D and Skitmore, M R (2000) Risk management in Singapore construction joint ventures. Journal of Construction Research, 1(02), 139–49.
Liu, C and Song, Y (2005) Multifactor productivity measures of construction sectors using oecd input-output database. Journal of Construction Research, 6(02), 209–22.
Love, P E D, Tse, R Y C, Holt, G D and Proverbs, D G (2002) Transaction Costs, Learning, and Alliances. Journal of Construction Research, 3(02), 193–207.
Masurier, J L, Blockley, D and Wood, D M (2000) Management of value and uncertainty in construction projects. Journal of Construction Research, 1(02), 123–9.
Moore, J E, Kuprenas, J, Lee, J-J, Gordon, P, Richardson, H and Pan, Q (2004) Cost analysis methodology for advanced treatment of stormwater: the Los Angeles case. Journal of Construction Research, 5(02), 149–70.
Mootanah, D P (2000) Theory meets practice: proposal for a dynamic value and risk methodology for project management. Journal of Construction Research, 1(02), 131–8.
Nicholas, J, Holt, G D and Mihsein, M (2000) Predicting materials suppliers' bad debt. Journal of Construction Research, 1(02), 159–67.
Ofori, G, Dulaimi, M F and Ling, F Y Y (2004) Improving performance of construction industry in Singapore: motivators, enablers and lessons for developing countries. Journal of Construction Research, 5(02), 267–89.
Palaneeswaran, E, Kumaraswamy, M M and Ng, S T (2003) Formulating a Framework for Relationally Integrated Construction Supply Chains. Journal of Construction Research, 4(02), 189–205.
Paulson, B C (2003) Design and Construction for the Rest of Us. Journal of Construction Research, 4(02), 115–27.
Sebastian, R (2004) Critical appraisal of design management in architecture. Journal of Construction Research, 5(02), 255–66.
Seni, D A (2000) From scientific management to process engineering: the spontaneous theory of technological value in the design of work in organizations. Journal of Construction Research, 1(02), 91–8.
Shash, A A and Ahcom, J (2005) Organizational aspects of safety management subsystem. Journal of Construction Research, 6(02), 237–52.
Shen, L-Y, Wu, M and Wang, J Y (2002) A model for assessing the feasibility of construction project in contributing to the attainment of sustainable development. Journal of Construction Research, 3(02), 255–69.
Soetanto, R and Proverbs, D G (2004) Intelligent models for predicting levels of client satisfaction. Journal of Construction Research, 5(02), 233–53.
Tan, W (2003) The Development of Construction Education in Singapore. Journal of Construction Research, 4(02), 207–22.
Tan, W and Elias, Y (2000) Learning-by-doing in Singapore construction. Journal of Construction Research, 1(02), 151–8.
Tse, R Y C and Love, P E D (2003) An Economic Analysis of the Effect of Delays on Project Costs. Journal of Construction Research, 4(02), 155–60.
Wong, F K W, Chan, S C M, Tse, R Y C and Love, P E D (2000) Improving safety knowledge through training: the case of Hong Kong. Journal of Construction Research, 1(02), 169–75.
Wood, B and Kenley, R (2004) The effectiveness of the bills of quantities in Australia. Journal of Construction Research, 5(02), 291–309.
Woodhead, R (2000) From individual perspectives to a global VM potential. Journal of Construction Research, 1(02), 87–90.
Woodhead, R M and Downs, C G (2002) Facilitation as a research method to improve value management capabilities. Journal of Construction Research, 3(02), 209–16.
Xenidis, Y and Angelides, D (2005) The legal risks in build-operate-transfer projects. Journal of Construction Research, 6(02), 273–92.