lnvestigating spatial linkages of construction prices in Australia's regions

Jiang, Heng and Liu, Chunlu 2012, lnvestigating spatial linkages of construction prices in Australia's regions, in Urban Design 2012 : Opportunistic urban design : Proceedings of the 5th International Urban Design Conference, AST Management, Nerang, Qld., pp. 33-49.

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Title lnvestigating spatial linkages of construction prices in Australia's regions
Author(s) Jiang, Heng
Liu, Chunlu
Conference name Urban Design. Conference (5th : 2012 : Melbourne, Victoria)
Conference location Melbourne, Victoria
Conference dates 10-12 Sep. 2012
Title of proceedings Urban Design 2012 : Opportunistic urban design : Proceedings of the 5th International Urban Design Conference
Editor(s) [Unknown]
Publication date 2012
Conference series Urban Design Conference
Start page 33
End page 49
Total pages 17
Publisher AST Management
Place of publication Nerang, Qld.
Keyword(s) linkage
unit root
spatial autocorrelation
spatial convergence
Summary Linkages among different construction markets have attracted great of attention from the construction economist. With notable exceptions, most of this infestation has carried out by using input-output analysis. Interactions among regional construction markets have been discussed in few studies and none of them investigate spatial effects on the regional construction markets. This study employed spatial econometric techniques, spatial autocorrelation and convergence tests, to analysis interactions and linkages among construction price indices in Australian six states and two territories. The empirical results indicate the presence of significant positive spatial correlation between the construction prices in Australian eight construction markets and the degree of dependence decrease sufficiently quickly as the space between units increase. The results of convergence test further present evidence on "ripple effect" in the construction prices in Australian regional markets and the changes in regional construction price would positively influence neighboring states first, and then spread out into others, and then the regional prices converge and reach a long-run equilibrium in the following quarters. Urban development policymakers and construction developers could benefit from the analysis of spatial linkages in regional construction markets.
ISBN 9780980814781
Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 870599 Building Management and Services not elsewhere classified
HERDC Research category E2 Full written paper - non-refereed / Abstract reviewed
Persistent URL http://hdl.handle.net/10536/DRO/DU:30051294

Document type: Conference Paper
Collection: School of Architecture and Built Environment
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