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Spatial linkages among Australian construction markets

journal contribution
posted on 2014-01-01, 00:00 authored by Jason Jiang, Chunlu LiuChunlu Liu
The linkages among different construction markets have recently attracted much attention from construction economists. The interactions among regional construction markets have been discussed in a few studies, most of which have been carried out by using input-output methods, and none of them investigated spatial effects on the regional construction markets. This study employed spatial econometric techniques, including spatial autocorrelation and convergence tests, to analyse 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 among the construction prices in Australian eight construction markets and the degree of dependence decreasing sufficiently quickly as the space between regions increases. The results of convergence test further provide evidence of existence of a ripple effect in construction prices among the Australian regional markets and the changes in construction prices in a state would first positively influence neighbouring states, and then spread out into other non-neighbouring states or territories.

History

Journal

Australasian journal of construction economics and building

Volume

14

Issue

2

Pagination

18 - 30

Publisher

Australian Institute of Quantity Surveyors

Location

Deakin West, ACT

ISSN

1835-6354

eISSN

1837-9133

Language

eng

Publication classification

C Journal article; C1 Refereed article in a scholarly journal

Copyright notice

2014, Australian Institute of Quantity Surveyors

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