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The construction sector and economic development: the 'Bon curve'

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  • Les Ruddock
  • Jorge Lopes

Abstract

The complexities of the relationship between a country's level of construction activity and its stage of economic development are considerable. Studies over the last three decades, based on macroeconomic analysis, have attempted to model the relationship but have usually been hampered by problems of data quality and availability. Nevertheless, paradigms have emerged (usually based on Keynesian philosophy), which are concerned with the dynamics of construction activity as an agent in the promotion of economic growth in economies at different stages of development. One such is the 'Bon curve'. An examination of the data issues of attempting to assess the validity of the proposition is made and then the role of the construction sector in highly developed economies is considered.

Suggested Citation

  • Les Ruddock & Jorge Lopes, 2006. "The construction sector and economic development: the 'Bon curve'," Construction Management and Economics, Taylor & Francis Journals, vol. 24(7), pages 717-723.
    • Handle: RePEc:taf:conmgt:v:24:y:2006:i:7:p:717-723
    DOI: 10.1080/01446190500435218
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    References listed on IDEAS

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    1. Les Ruddock, 2002. "Measuring the global construction industry: improving the quality of data," Construction Management and Economics, Taylor & Francis Journals, vol. 20(7), pages 553-556.
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    Citations

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    Cited by:

    1. Lyons, Michal, 2009. "Building Back Better: The Large-Scale Impact of Small-Scale Approaches to Reconstruction," World Development, Elsevier, vol. 37(2), pages 385-398, February.
    2. Yingbin Zhou & Siqi Lv & Jianlin Wang & Junbo Tong & Zhong Fang, 2022. "The Impact of Green Taxes on the Carbon Emission Efficiency of China’s Construction Industry," Sustainability, MDPI, vol. 14(9), pages 1-18, April.
    3. Vergara, Judith & Serna, Maribel, 2018. "Factor Analysis to Evaluate the Financial Performance of the Construction Industry in an Emerging Market: The Case of Colombia || Análisis factorial para evaluar el rendimiento financiero de la indust," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 26(1), pages 52-70, Diciembre.
    4. Daniele Girardi & Antonio Mura, 2014. "The Construction-Development Curve: Evidence from a New International Dataset," The IUP Journal of Applied Economics, IUP Publications, vol. 0(3), pages 7-26, July.
    5. Le Ma & Chunlu Liu, 2014. "Did the late-2000s financial crisis influence construction labour productivity?," Construction Management and Economics, Taylor & Francis Journals, vol. 32(10), pages 1030-1047, October.
    6. Escavy, J.I. & Herrero, M.J. & Trigos, L. & Sanz-Pérez, E., 2020. "Demographic vs economic variables in the modelling and forecasting of the demand of aggregates: The case of the Spanish market (1995–2016)," Resources Policy, Elsevier, vol. 65(C).
    7. Alexandre Aspremont & Simon Ben Arous & Jean-Charles Bricongne & Benjamin Lietti & Baptiste Meunier, 2023. "Satellites Turn “Concrete”: Tracking Cement with Satellite Data and Neural Networks," Working papers 916, Banque de France.
    8. Segundo Camino‐Mogro & Natalia Bermudez‐Barrezueta, 2021. "Productivity determinants in the construction sector in emerging country: New evidence from Ecuadorian firms," Review of Development Economics, Wiley Blackwell, vol. 25(4), pages 2391-2413, November.
    9. Schaffartzik, Anke & Duro, Juan Antonio, 2022. "‘Dematerialization’ in times of economic crisis: A regional analysis of the Spanish economy in material and monetary terms," Resources Policy, Elsevier, vol. 78(C).
    10. Leonida Correia & Maria Joao Ribeiro, 2023. "Macroeconomics and the Construction Sector: Evidence from Portugal," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 9(1), pages 9-26, January.

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