Construction Value Chains and Their Productivity Growth

Arbeitspapier

The construction industry has suffered from low growth in recent decades. Motivated by the economic impor-tance of the industry, we revisit the construction produc-tivity puzzle by analyzing the construction value chains of 12 European countries with data from the World In-put-Output and EU KLEMS databases. We decompose construction-related value-added and productivity con-tributions to the construction industry and the rest of the value chain, and show that the traditional focus on the construction industry is restrictive. There is a substantial amount of construction-related value-add-ed generated in other industries, and the productivi-ty growth in the construction value chains has, for the most part, been seen in them. Furthermore, we show that there is a strong, long-term relationship between construction-related patents and the improvement of total factor productivity in the value chains, but the val-ue chains typically suffer from low efficiency in the use of information technology.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ETLA Working Papers ; No. 79

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity ; Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices ; Organization of Production ; Production Management
• Thema: Construction ; Productivity ; Global value chains ; Organization of production ; Production management ; Industrial structure and structural chan

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Kuusi, Tero ; Junnonen, Juha-Matti ; Kulvik, Martti
• Ereignis: Veröffentlichung
• (wer): The Research Institute of the Finnish Economy (ETLA)
• (wo): Helsinki
• (wann): 2020

Weitere Informationen

• Handle: http://hdl.handle.net/10419/237364
• Letzte Aktualisierung: 10.03.2025, 11:46 MEZ