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Abdul-Aziz, A-R and Tan, A C N (1998) GATT, GATS and the global construction industry. Engineering, Construction and Architectural Management, 5(01), 31–7.
Akintoye, A, Taylor, C and Fitzgerald, E (1998) Risk analysis and management of Private Finance Initiative projects. Engineering, Construction and Architectural Management, 5(01), 9–21.
Chau, K W (1998) The implications of the difference in the growth rates of the prices of building resources and outputs in Hong Kong. Engineering, Construction and Architectural Management, 5(01), 38–50.
- Type: Journal Article
- Keywords: Hong Kong; productivity; resource; technology; tender price index
- ISBN/ISSN: 0969-9988
- URL: http://www.blackwell-synergy.com/links/doi/10.1046/j.1365-232X.1998.00005.x/abs
- Abstract:
The prices of construction resources (construction cost) have been increasing faster than construction output prices (construction price) in Hong Kong since the mid-1970s, giving rise to a long-term divergence between the two price trends. As the difference has existed for quite a long time, it cannot be adequately explained by a short-term change in supply and demand conditions. The present paper introduces the major indices that reflect the trends of the prices of construction resources and outputs in Hong Kong. It also attempts to explain, from an economic point of view, the major factors which contributed to the divergence between the long-term trends of the prices of construction resources and outputs. One of the conclusions is that, for the past 25 years, the productive efficiency of the Hong Kong building industry has benefited from and been greatly upgraded by imported construction technologies, as well as by a burgeoning quality of human resources. The data and examples quoted in the present paper are sided towards building construction. Therefore, the scope of investigation of this paper, strictly speaking, is confined to the building industry, and does not include the building services and civil engineering sub-sectors. How ever, because of the higher degree of mechanization and faster technological progress in the civil engineering and building services sub-sectors, the present author believes that the results and conclusions should also be applicable to the whole construction industry.
Duffield, C (1998) Commercial viability of privately financed heating systems in Europe: a case study. Engineering, Construction and Architectural Management, 5(01), 3–8.
Evans, R C and Kaka, A P (1998) Analysis of the accuracy of standard/average value curves using food retail building projects as case studies. Engineering, Construction and Architectural Management, 5(01), 58–67.
Gowri, K and Depanni, S (1998) The Health and Safety Expert System (HASES): an expert system framework for building inspections. Engineering, Construction and Architectural Management, 5(01), 92–102.
Laufer, A, Shapira, A and Goren, I (1998) Implementing an integrative approach to project schedule compression. Engineering, Construction and Architectural Management, 5(01), 82–91.
Ogunlana, S O and Chang, W P (1998) Worker motivation on selected construction sites in Bangkok, Thailand. Engineering, Construction and Architectural Management, 5(01), 68–81.
Saunders, A (1998) Aspects of funding for BOOT projects. Engineering, Construction and Architectural Management, 5(01), 22–30.
Walker, D H T (1998) The contribution of the client representative to the creation and maintenance of good project inter-team relationships. Engineering, Construction and Architectural Management, 5(01), 51–67.