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Globalization and construction industry development: implications of recent developments in the construction sector in Asia

Author

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  • John Raftery
  • Bernie Pasadilla
  • Y. H. Chiang
  • Eddie Hui
  • Bo-Sin Tang

Abstract

Recent developments in the construction sector in the Asian region demonstrate three trends: (1) larger private sector participation in infrastructure projects, (2) increasing vertical integration in the packaging of construction projects, and (3) increased foreign participation in domestic construction. This paper attributes the trends to the globalization and deregulation of markets necessitated by fiscal, technological and managerial constraints. Although these trends present intra-Asian opportunities, there are also areas of concern. The trends have helped polarize the financial and technical superiority of the developed countries and the corresponding inferiority of the developed countries in the region of the developing ones. In the long term, this gap could be filled through technology transfer. In the short term, however, there are concerns that imported construction services could grow at the expense of the indigenous sectors of the developing countries. This paper illustrates this dilemma with the case of Japan as a world leader in international construction services. Its dominance has apparently come through the orchestration of industrial and corporate policies, implemented in a highly regulated and protected domestic market. However, construction industries in other Asian economies (such as China) will have to leapfrog in technology, finance and management know-how (e.g. through joint ventures with developed countries' construction companies) before they can become formidable powers in an environment that has become much more global, more de-regulated, more open and more competitive than before.

Suggested Citation

  • John Raftery & Bernie Pasadilla & Y. H. Chiang & Eddie Hui & Bo-Sin Tang, 1998. "Globalization and construction industry development: implications of recent developments in the construction sector in Asia," Construction Management and Economics, Taylor & Francis Journals, vol. 16(6), pages 729-737.
    • Handle: RePEc:taf:conmgt:v:16:y:1998:i:6:p:729-737
    DOI: 10.1080/014461998372024
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    Cited by:

    1. Zhang, Panpan & Wang, Tiandong & Yan, Jun, 2022. "PageRank centrality and algorithms for weighted, directed networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 586(C).
    2. Raymond Y.C. Tse & John Raftery, 2001. "The effects of money supply on construction flows," Construction Management and Economics, Taylor & Francis Journals, vol. 19(1), pages 9-17, January.
    3. George Ofori, 2003. "Frameworks for analysing international construction," Construction Management and Economics, Taylor & Francis Journals, vol. 21(4), pages 379-391.
    4. Linda Tay & Neil Morgan, 2002. "Antecedents and consequences of market orientation in chartered surveying firms," Construction Management and Economics, Taylor & Francis Journals, vol. 20(4), pages 331-341.
    5. Mohammed Fadhil Dulaimi & Tan Fu Hwa, 2001. "Developing world class construction companies in Singapore," Construction Management and Economics, Taylor & Francis Journals, vol. 19(6), pages 591-599.
    6. Osabutey, Ellis L.C. & Jin, Zhongqi, 2016. "Factors influencing technology and knowledge transfer: Configurational recipes for Sub-Saharan Africa," Journal of Business Research, Elsevier, vol. 69(11), pages 5390-5395.
    7. Yu Hoe Tang & Stephen Ogunlana, 2003. "Selecting superior performance improvement policies," Construction Management and Economics, Taylor & Francis Journals, vol. 21(3), pages 247-256.
    8. Patrick Dallasega & Erwin Rauch, 2017. "Sustainable Construction Supply Chains through Synchronized Production Planning and Control in Engineer-to-Order Enterprises," Sustainability, MDPI, vol. 9(10), pages 1-25, October.
    9. Low Sui Pheng, 2003. "Book Reviews," Construction Management and Economics, Taylor & Francis Journals, vol. 21(1), pages 95-97.
    10. Osabutey, Ellis L.C. & Williams, Karen & Debrah, Yaw A., 2014. "The potential for technology and knowledge transfers between foreign and local firms: A study of the construction industry in Ghana," Journal of World Business, Elsevier, vol. 49(4), pages 560-571.
    11. Alicia Lozano-Torró & Tatiana García-Segura & Laura Montalbán-Domingo & Eugenio Pellicer, 2019. "Risk Management as a Success Factor in the International Activity of Spanish Engineering," Administrative Sciences, MDPI, vol. 9(1), pages 1-20, February.

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