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Does building investment affect economic growth?

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Does building investment affect economic growth? / Ball, Michael; Wood, Andrew.

In: Journal of Property Research, Vol. 13, No. 2, 1996, p. 99-114.

Research output: Contribution to journalArticle

Harvard

Ball, M & Wood, A 1996, 'Does building investment affect economic growth?', Journal of Property Research, vol. 13, no. 2, pp. 99-114. https://doi.org/10.1080/09599916.1996.9965059

APA

Vancouver

Author

Ball, Michael ; Wood, Andrew. / Does building investment affect economic growth?. In: Journal of Property Research. 1996 ; Vol. 13, No. 2. pp. 99-114.

Bibtex

@article{972c451616344607a0c4d0c368ec30ba,
title = "Does building investment affect economic growth?",
abstract = "Building investment has been identified as both a major determinant of, and a brake on, economic growth, results which are based on conflicting evidence drawn from a cross-section of countries in the post-1950 era. In contrast, this paper looks at the very long run, using annual UK data from the nineteenth century to the present day. Tests for cointegration and Granger Causality indicate a complex pattern of causality between equipment and structures investment and aggregate productivity. There seems to be a long-run steady state relationship and a series of error correcting mechanisms; results which do not support a policy of preferential treatment for equipment investment.",
keywords = "Building cycles, Growth, Investment, Productivity change",
author = "Michael Ball and Andrew Wood",
year = "1996",
doi = "10.1080/09599916.1996.9965059",
language = "English",
volume = "13",
pages = "99--114",
journal = "Journal of Property Research",
issn = "0959-9916",
publisher = "Taylor & Francis",
number = "2",

}

RIS

TY - JOUR

T1 - Does building investment affect economic growth?

AU - Ball, Michael

AU - Wood, Andrew

PY - 1996

Y1 - 1996

N2 - Building investment has been identified as both a major determinant of, and a brake on, economic growth, results which are based on conflicting evidence drawn from a cross-section of countries in the post-1950 era. In contrast, this paper looks at the very long run, using annual UK data from the nineteenth century to the present day. Tests for cointegration and Granger Causality indicate a complex pattern of causality between equipment and structures investment and aggregate productivity. There seems to be a long-run steady state relationship and a series of error correcting mechanisms; results which do not support a policy of preferential treatment for equipment investment.

AB - Building investment has been identified as both a major determinant of, and a brake on, economic growth, results which are based on conflicting evidence drawn from a cross-section of countries in the post-1950 era. In contrast, this paper looks at the very long run, using annual UK data from the nineteenth century to the present day. Tests for cointegration and Granger Causality indicate a complex pattern of causality between equipment and structures investment and aggregate productivity. There seems to be a long-run steady state relationship and a series of error correcting mechanisms; results which do not support a policy of preferential treatment for equipment investment.

KW - Building cycles

KW - Growth

KW - Investment

KW - Productivity change

UR - http://www.scopus.com/inward/record.url?scp=0030318311&partnerID=8YFLogxK

U2 - 10.1080/09599916.1996.9965059

DO - 10.1080/09599916.1996.9965059

M3 - Article

AN - SCOPUS:0030318311

VL - 13

SP - 99

EP - 114

JO - Journal of Property Research

JF - Journal of Property Research

SN - 0959-9916

IS - 2

ER -

ID: 8637041