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An economic analysis of construction industries producer prices in Australia

Fu, Cuijia and Liu, Chunlu 2010, An economic analysis of construction industries producer prices in Australia, International journal of economics and finance, vol. 2, no. 3, pp. 3-14.

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Title An economic analysis of construction industries producer prices in Australia
Author(s) Fu, Cuijia
Liu, ChunluORCID iD for Liu, Chunlu orcid.org/0000-0003-1144-4355
Journal name International journal of economics and finance
Volume number 2
Issue number 3
Start page 3
End page 14
Total pages 12
Publisher Canadian Center of Science and Education
Place of publication Toronto, Canada
Publication date 2010-08
ISSN 1059-0560
1916-9728
Keyword(s) cointegration
error correction model
construction prices
diffusion pattern
causality
Australian
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 and error correction model. The cointegration relationships amongst the regional construction prices are detected in this study. The application of 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. Results of this study suggest that the economic system in which construction industry participants operate is characterised by a highly competitive integrated marketplace. Furthermore, the causalities and diffusion patterns among the construction price indices in six states and two territories of Australia are drawn by the cointegration analysis. These outcomes reveal a pattern of diffusion paths and network linkages among the six states and two territories, and then expose the regional price linkages.
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 (CCSE)
Free to Read? Yes
Persistent URL http://hdl.handle.net/10536/DRO/DU:30033330

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