Modeling the Efficiency of Resource Consumption Management in Construction Under Sustainability Policy: Enriching the DSEM-ARIMA Model

Pruethsan Sutthichaimethee, Grzegorz Mentel, Volodymyr Voloshyn, Halyna Mishchuk () and Yuriy Bilan ()
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Pruethsan Sutthichaimethee: Faculty of Public Administration, Phitsanulok University, Amphoe Mueang Phitsanulok, Phitsanulok 65000, Thailand
Grzegorz Mentel: Department of Quantitative Methods, Rzeszow University of Technology, 35959 Rzeszów, Poland
Volodymyr Voloshyn: Department of Computer Technology and Economic Cybernetics, National University of Water and Environmental Engineering, Soborna St., 11, 33028 Rivne, Ukraine
Halyna Mishchuk: Faculty of Economics, Széchenyi Istvàn University, Egyetem tér 1, 9026 Győr, Hungary
Yuriy Bilan: Faculty of Economics and Business, University of Debrecen, Böszörményi út 138, 4032 Debrecen, Hungary

Sustainability, 2024, vol. 16, issue 24, 1-17

Abstract: The aim of this research is to study the influence of factors affecting the efficiency of resource consumption under the sustainability policy based on using the DSEM-ARIMA (Dyadic Structural Equation Modeling based on the Autoregressive Integrated Moving Average) model. The study is performed using the Thailand experience. The research findings indicate that continuous economic growth aligns with the country’s objectives, directly contributing to continuous social growth. This aligns with the country’s efficient planning. It demonstrates that the management aligns with the goal of achieving Thailand 5.0. Furthermore, considering the environmental aspect, it is found that economic and social growth directly impacts the ecological aspect due to the significant influence of resource consumption in the construction. The resource consumption in construction shows a growth rate increase of 264.59% (2043/2024), reaching 401.05 ktoe (2043), which exceeds the carrying capacity limit set at 250.25 ktoe, resulting in significant long-term environmental degradation. Additionally, considering the political aspect, it is found to have the greatest influence on the environment, exacerbating environmental damage beyond current levels. Therefore, the DSEM-ARIMA model establishes a new scenario policy, indicating that resource consumption in construction leads to environmental degradation reduced to 215.45 ktoe (2043), which does not exceed the carrying capacity. Thus, if this model is utilized, it can serve as a vital tool in formulating policies to steer the country’s growth toward Thailand 5.0 effectively.

Keywords: resource consumption; sustainability policy; construction; efficiency; Thailand 5.0 (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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