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The Construction and Related Industries in a Changing Socio-Economic Environment: The case of Hong Kong„X

Charles Leung and Kelvin S. Wong
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Kelvin S. Wong: Dept of Real Estate and Construction, University of Hong Kong, Hong Kong

Discussion Papers from Chinese University of Hong Kong, Department of Economics

Abstract: Hong Kong is well known for its "housing market bubble". Both theoretical and empirical studies point to the supply side being the "root of all evil". This paper takes a preliminary step in understanding the supply side of the Hong Kong market by investigating the construction and related industries. After taking into consideration of the unusual public expenditure, the construction industry seems to be "normal" in international standard. Its relationship with the aggregate economy is also examined. Directions for future research are also suggested.

Keywords: housing; construction; government policy; employment; investment (search for similar items in EconPapers)
JEL-codes: E0 E3 R0 (search for similar items in EconPapers)
Date: 2004-10, Revised 2005-05
New Economics Papers: this item is included in nep-geo, nep-mac and nep-tra
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Citations: View citations in EconPapers (2)

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