You are not logged in.
Openly accessible

Investigating relationships of construction prices in Australia using cointegration analysis

Jiang, Heng, Fu, Cuijia and Liu, Chunlu 2010, Investigating relationships of construction prices in Australia using cointegration analysis, in AUBEA 2010 : Construction Management(s) : Proceedings of the 35th Australasian Universities Building Education Association annual conference, AUBEA, Melbourne, Vic., pp. A041 - 1-A041 - 16.

Attached Files
Name Description MIMEType Size Downloads
liu-investigatingrelationshipsof-2010.pdf Published version application/pdf 163.70KB 115

Title Investigating relationships of construction prices in Australia using cointegration analysis
Author(s) Jiang, Heng
Fu, Cuijia
Liu, Chunlu
Conference name Australasian Universities Building Education Association. Conference (35th : 2010 : Melbourne, Vic)
Conference location Melbourne, Vic.
Conference dates 14-16 Jul. 2010
Title of proceedings AUBEA 2010 : Construction Management(s) : Proceedings of the 35th Australasian Universities Building Education Association annual conference
Editor(s) [unknown]
Publication date 2010
Conference series Australasian Universities Building Education Association Conference
Start page A041 - 1
End page A041 - 16
Total pages 16
Publisher AUBEA
Place of publication Melbourne, Vic.
Keyword(s) cointegration
error correction model
construction prices
diffusion
causality
Summary Research on construction prices is significant for contractors and traders. A comprehensive understanding of construction prices may influence crucial decisions in business operation and arbitrage activities. This study focuses on the cointegration relationships of regional construction prices in Australia by using a range of econometric techniques including the stationarity test, the Engle-Granger cointegration approach examines the long run equilibrium relationships within the regional markets, and the error correction models explore the short run disequilibrium relationships. Finds of this study reveal that the economic system in which the construction industry participants operate is characterized by a highly competitive, integrated marketplace, Especially in Melbourne and Sydney. But exclude Northern Territory and Queensland. Furthermore, the results of long term relationships estimation suggest that there are 15 pairs of regional construction prices have long term equilibrium relationships. Additionally, the causalities and diffusion among the construction price indices in six states and two territories of Australia are estimated in this study. These outcomes suggest that causal links between regions mainly exist among adjoining states.
Notes
Every reasonable effort has been made to ensure that permission has been obtained for items included in Deakin Research Online. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au

Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 870501 Civil Building Management and Services
HERDC Research category E1 Full written paper - refereed
HERDC collection year 2010
Copyright notice ©2010, AUBEA
Persistent URL http://hdl.handle.net/10536/DRO/DU:30033319

Document type: Conference Paper
Collections: School of Architecture and Built Environment
Open Access Collection
Connect to link resolver
 
Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved.

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.

Versions
Version Filter Type
Citation counts: TR Web of Science Citation Count  Cited 0 times in TR Web of Science
Scopus Citation Count Cited 0 times in Scopus
Google Scholar Search Google Scholar
Access Statistics: 510 Abstract Views, 124 File Downloads  -  Detailed Statistics
Created: Mon, 14 Mar 2011, 10:51:33 EST by April Wallbank

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.