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Albert, A, Hallowell, M R and Kleiner, B M (2014) Experimental field testing of a real-time construction hazard identification and transmission technique. Construction Management and Economics, 32(10), 1000-16.
Kim, J and Philips, P (2014) Remuneration and absenteeism on a large construction site. Construction Management and Economics, 32(10), 983-99.
Konno, Y (2014) Default or exit? Empirical study on SMEs in the Japanese construction industry. Construction Management and Economics, 32(10), 1017-29.
Konno, Y (2014) Japanese competitive bid entry qualifications: an examination of public works. Construction Management and Economics, 32(10), 957-67.
Lu, W (2014) Reliability of Engineering News-Record international construction data. Construction Management and Economics, 32(10), 968-82.
Ma, L and Liu, C (2014) Did the late-2000s financial crisis influence construction labour productivity?. Construction Management and Economics, 32(10), 1030-47.
- Type: Journal Article
- Keywords:
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/01446193.2014.944927
- Abstract:
The late-2000s global financial crisis has wrought dramatic impacts on the construction industry. However, the issue of whether the crisis influenced the behaviours of the construction industry has not been addressed yet. This research presents an econometric approach to investigating the effects of the recent global financial crisis on construction labour productivity. By employing the error correction model and panel regression methods, the direct and indirect effects of the financial crisis on the changes in Australian construction labour productivity are explored at national and state levels. Neither the direct nor the indirect effects appear statistically significant. The results indicate that the direct effect of the financial crisis drives up construction labour productivity at the national level, while the indirect effect diminishes productivity. The effects of the financial crisis on the state construction labour productivity vary from state to state. The financial crisis influenced construction labour productivity directly and significantly in the northern and eastern regions, while the direct effects appear not significant in the other states and territories. The indirect effects of the financial crisis on productivity are statistically significant in three regions: the Australian Capital Territory, the Northern Territory and Western Australia. By comparison, the model with the financial effects fails to provide more accurate simulating results. As such, this research concludes that the influence of the late-2000s financial crisis on Australian national and state construction labour productivity is limited.