Property investment, construction and economic growth : the case of Malaysia
Chia, Fah Choy , Skitmore, Martin, Runeson, Goran , & Bridge, Adrian (2011) Property investment, construction and economic growth : the case of Malaysia. In The Asian Conference on Real Estate (ACRE 2011) : Sustainable Growth, Management Challenges, 3-5 October 2011, Thistle Johor Bahru, Malaysia. (Unpublished)
It is generally accepted that there is a close relationship between property investment and construction activity. The construction sector plays a crucial role in economic development, especially for a developing nation such as Malaysia. However, the volume of new properties added to the property market is only a fraction of the total volume of the property market. Is the conventional assumption of the relationship between property investment and construction supported by empirical data? This paper revisits the tripartite relationships between economic growths, property investment and construction activities with official Malaysian 2000Q1-2010Q4 quarterly time series data. The Granger causality tests are used to establish the causality runs from the GDP to the value of property transactions, and the growth of construction activities to GDP growth. The result is expected to be useful for policymakers and industrial practitioners in formulating industrial policies and corporate strategies.
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|Item Type:||Conference Paper|
|Keywords:||Property Investment, Construction Activity, Economic Growth, Developing Nations|
|Subjects:||Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Quantity Surveying (120203)|
|Divisions:||Current > Schools > School of Civil Engineering & Built Environment|
Current > QUT Faculties and Divisions > Science & Engineering Faculty
|Copyright Owner:||Copyright 2011 The Authors|
|Deposited On:||13 Feb 2012 08:53|
|Last Modified:||14 Feb 2012 21:25|
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