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Construction Economics in the Single European Market is an edited selection of papers from the first European Construction Economics Conference. Experts give details on construction costs from many European countries including Denmark, Ireland, France, Sweden, Netherlands, Spain and the UK.
Textbook, economics, economic theory, construction industry - supply and demand, cost, pricing, markets, investment, Western Europe, USA. Bibliography, graphs, statistical tables.
The American construction industry, reponsible for nearly 4% of the nation's Gross Domestic Product, directly employs over five million people and provides millions of additional support jobs in related fields. This book provides an introductory overview of the economic aspects of the industry, including the historical development of building activity from earliest times to modern day market-based construction, including the work of individual artisans to complex construction unions. The book explores current trends in labor force participation; the measurement of industry performance; the determinants of investment; government involvement; competition; wage determination; training; and worker safety.
This book will be of interest to built environment professionals and to students of the economics and management of the built environment. It shows the value of integrating ideas and data about the production of the built environment as an industrial process with theories and data about the demand for construction. The approach taken is institutional and post-Keynesian, and illuminates an important and distinctive sector of the economy, embracing design, construction and property industries. This book offers some new and important perspectives for research and teaching in construction economics and management.
Traditional building economics has primarily been concerned with issues around project appraisal and cost management techniques. On the other hand, modern construction economics has a wider focus with stronger links to mainstream economics, reflecting an increased interest in a range of theoretical issues in construction economics, both at the macro and micro level. In Modern Construction Economics: Theory and Application, a variety of approaches are used to present a coherent vision of synthesis between industry economics and project economics. Topics covered include: developing construction economics as idustry economics competition and barriers to entry in construction innovation in construction theory testing in construction management research collusion and corruption in the construction sector. Including contributions from academics in the UK, Sweden, Hong Kong, and Australia, this is a truly global review of a core issue for the construction industry worldwide. The result is a unique book that will push toward the development of a comprehensive theoretical framework of construction economics. This is a must-read for all serious students of construction economics, and all practitioners looking for a deeper understanding of their industry.
This paper studies the factors behind pro-cyclical but widely varying construction shares (as a percent of GDP) across countries, with a strong focus on European countries. Using a dataset covering 48 countries (including advanced and emerging economies within and outside Europe) for 1990-2011, we find that country’s geography, demographics, and economic conditions are the key determinants of a norm around which actual construction shares revolve in a simple AR(1) and error-correction process. The empirical results show that in many European countries, construction shares overshoot relative to their norms before the recent global crisis, but they have fallen significantly since the crisis. Nevertheless, there is still room for further adjustment in construction shares in some countries which may weigh on economic recovery.
This comprehensively rewritten, updated and extended new edition of this established text focuses on what has become the most important single facet of the quantity surveyor's role - cost management. The scope of the book has been broadened to take account of the widening and more sophisticated cost management and control service that clients now require. The book examines the factors influencing building costs and how the precontract costs can be estimated, analysed and controlled, to ensure that buildings can be completed within the agreed budget and timescale, and be of acceptable quality, function effectively and provide value for money. A new chapter on value management has been added, together with an introductory chapter on cost modelling; the chapter on life cycling costing is extended, while the sections on energy conservation and occupancy costs are expanded. Throughout the text many new case studies, with supporting tables and diagrams, are included in order to enhance the value of this book to the student and the practitioner.
This is a book about the whole diverse range of firms that are found in the construction sector, about their decision-making and the economic environments in which they operate. The authors aim to provide a new and coherent perspective on these firms and the choices they have to make - both for their managers and for all who have a stake in these firms and their industry. This book offers some new and important perspectives for research and teaching about construction firms.
The single market and trade policy are Europe’s major economic achievements and its best assets in times of increasing globalisation. European integration, as well as any other regional integration, is impossible without these two policies, which are a good example of how to implement a positive form of globalisation. They represent an engine for growth and building a more competitive EU economy. The single market and trade policy, by allowing people, goods, services and capital to move more freely through both Member States and the world, open up new opportunities for citizens, workers, businesses and consumers, creating the jobs and growth Europe so urgently needs. This collection of essays addresses the various facets of these two pillars of European integration. A more efficient single market creates the conditions for a more open trade policy, and vice-versa. Growth has been lacking in Europe in recent years, and enhancing these two assets is the most fruitful way to find it again.