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The construction industry in the economy of Trinidad & Tobago

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  • Timothy Michael Lewis

Abstract

The construction sector is generally one of the larger and more important sectors of a nation's economy. If economic policy is to achieve its desired objectives, it is necessary to have some understanding of how the economy will react to various changes that can be effected. Because the construction sector is large and responsive, it is a key sector for manipulating the economy and, hence, it is important to know what the role of the construction sector is in the economy. Some of the key issues here are the effect of changes in GDP on construction output and employment, as well as the effects of changes in money supply, inflation, expenditure on the public sector investment programme and the rate of approval of building plans. This paper sets out to see if there are relationships between these factors that justify further investigation and, as such, helps establish a research agenda for the industry, particularly in comparing developed and less-developed countries.

Suggested Citation

  • Timothy Michael Lewis, 2004. "The construction industry in the economy of Trinidad & Tobago," Construction Management and Economics, Taylor & Francis Journals, vol. 22(5), pages 541-549.
    • Handle: RePEc:taf:conmgt:v:22:y:2004:i:5:p:541-549
    DOI: 10.1080/0144619042000190234
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    Citations

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    Cited by:

    1. Djamil Benghida, 2017. "Prospects and challenges in the Korean construction industry: An economic overview," Post-Print hal-01515086, HAL.
    2. Roger Hosein & Timothy Michael Lewis, 2005. "Quantifying the relationship between aggregate GDP and construction value added in a small petroleum rich economy - a case study of Trinidad and Tobago," Construction Management and Economics, Taylor & Francis Journals, vol. 23(2), pages 185-197.
    3. Wen-Der Yu & Shao-Shung Lo, 2005. "Time-dependent construction social costs model," Construction Management and Economics, Taylor & Francis Journals, vol. 23(3), pages 327-337.
    4. Flora Maria Díaz-Pérez & Carlos Gustavo García-González & Alan Fyall, 2021. "Accommodation, Seasonality and Domestic Tourism to National Parks: Implications for Environmental Policy," Sustainability, MDPI, vol. 13(9), pages 1-26, April.

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