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Demystifying the supply of capital and labour in a nation’s economic chain

Zhou, Jie, Picken, David and Liu, Chunlu 2010, Demystifying the supply of capital and labour in a nation’s economic chain, Journal of sustainable development, vol. 3, no. 4, pp. 30-37.

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Title Demystifying the supply of capital and labour in a nation’s economic chain
Author(s) Zhou, Jie
Picken, David
Liu, Chunlu
Journal name Journal of sustainable development
Volume number 3
Issue number 4
Start page 30
End page 37
Total pages 8
Publisher Canadian Center of Science and Education
Place of publication Toronto, Canada
Publication date 2010-12
ISSN 1913-9063
1913-9071
Keyword(s) capital
GDP
impulse response function
labour
vector autoregression
Summary Public capital has been considered to be the wheels of economic activity in a nation or region. The reverse effect, the contribution of economic growth to public capital, is also worth analysis. The non-structural vector auto-regression (VAR) approach is performed for the Australian economy using yearly data for the 1960-2008 period. The optimal lag is investigated to build the VAR model that is then tested for stability. The impulse response function is further employed to examine the response of one economic variable to the innovation of others and to determine the lagged terms for the maximum absolute value of the other variables’ responses. The results will provide historical evidence for the federal and regional governments of Australia to estimate the effects of these production variables, in particular, the effect of infrastructure spending on the gross domestic product.
Notes Reproduced with the specific permission of the copyright owner.
Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 870501 Civil Building Management and Services
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2010
Copyright notice ©2010, Canadian Center of Science and Education
Persistent URL http://hdl.handle.net/10536/DRO/DU:30033326

Document type: Journal Article
Collections: School of Architecture and Built Environment
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