Understanding the process of economic transformation and institutional change in the construction industry: the case of Malaysia

Suraya Ismail and Nazir Muhamad Nor

Chapter 22 in Research Companion to the Construction Industry in Developing Countries, 2026, pp 565-595 from Edward Elgar Publishing

Abstract: This chapter aims to complement the scope of ongoing research regarding the evolving nature of the construction industry by studying how firms adapt to changing institutional demands and practices over time. Construction firms operate within their industry structure and national business system. Ideally, these institutional arrangements or operating environments will produce positive outcomes such as technological advancements and new funding strategies for firms as they seek to innovate or adapt to improve their economic and competitive positions. Adopting a New Institutional Economics perspective, this chapter critically examines the role of the Construction Industry Development Board in Malaysia in creating an enabling policy environment, and the transformation of firms within the national business system in the context of national growth. It also offers direction for future studies to complement the expanding literature on construction industry development from an institutional perspective.

Keywords: Construction firms; New Institutional Economics; Construction industry development; Construction Industry Development Board; Malaysia (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035336302
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