Description
Book SynopsisThis innovative Research Companion considers the history, nature and status of construction economics, and its need for development as a field in order to be recognised as a distinct discipline. It presents a state-of-the-art review of construction economics, identifying areas for further research.
Contributors explore topics that have been under-discussed in the literature, including the philosophy of construction economics and its practice in classical antiquity. Chapters also offer new takes on the development of the construction industry, the economics of housing, construction labour and the economics of informatics applications. Comprehensive in outlook, the Research Companion goes on to provide in-depth analyses of procurement, bidding, stakeholder management, construction data, transaction costs and sustainability in construction.
The Research Companion will be critical reading for scholars and students of construction economics, construction management, cost engineering, quantity surveying, urban economics and institutional economics. Its use of empirical research and exploration of the methods of analysis used in construction economics will also be beneficial for administrators of the construction industry and practitioners in these fields.
Trade Review‘Probably the most important book in construction economics, this book will teach readers how economics is applied in the construction industry. It describes construction’s impact on enterprises and individuals, as well as the history and economy of ancient architecture. It reviews the expected industrial advancements in developed countries. Traditional development models, tensions between justice, fairness, and economic efficiency are also examined in this book. This book will be very useful to the construction industry.’ -- George Wang, East Carolina University, US
Table of ContentsContents: Foreword xi Preface xiii 1 Introduction to the Research Companion to Construction Economics 1 George Ofori 2 Construction economics: its origins, significance, current status and need for development 18 George Ofori 3 The philosophy of construction economics 41 Stephen Gruneberg and John Kelsey 4 The nature and development of construction economics 61 Gerard de Valence 5 Construction economics in antiquity 86 Jan Bröchner 6 Construction in the economy and in national development 104 Jorge Lopes 7 Construction project economics 126 Nii A. Ankrah and Emmanuel Manu 8 Dynamics of construction industry development 153 Mohan Kumaraswamy and Gangadhar Mahesh 9 Applications of mainstream economic theories to the construction industry: transaction costs 178 Abdul-Rashid Abdul-Aziz and Afzan Binti Ahmad Zaini 10 Construction industry and the Sustainable Development Goals (SDGs) 199 Alex Opoku 11 Sustainability economics and the construction industry 215 Obas John Ebohon 12 International construction data: a critical review 238 Jim Meikle and Asheem Shrestha 13 Measuring and comparing construction costs in different locations: methods and data 261 Rick Best 14 New trends in international construction 277 Hongbin Jiang 15 Economics of trust in construction 309 Anita Cerić 16 The builders of cities: prospects for synergy between labour and the built environment 328 Edmundo Werna and Jeroen Klink 17 Economic principles of bidding for construction projects 351 Samuel Laryea 18 Procurement and delivery management 371 Ron Watermeyer 19 The economics of housing policy and construction: developing a responsive supply sector 396 Suraya Ismail 20 A review of stakeholder management in construction 422 Ezekiel Chinyio, Sukhtaj Singh and Subashini Suresh 21 The global construction market 445 Weisheng (Wilson) Lu and Meng Ye 22 Relational impacts of corruption on the procurement process: implications for economic growth in developing countries 466 Albert P.C. Chan and Emmanuel Kingsford Owusu 23 Economic considerations in the procurement and deployment of construction informatics applications 491 Chimay J. Anumba and Esther A. Obonyo 24 The future: new directions of construction economics research 514 George Ofori Index
