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Response of the Nigerian construction sector to economic shocks
Construction Economics and Building ( IF 1.8 ) Pub Date : 2019-11-12 , DOI: 10.5130/ajceb.v19i2.6667
Ayokunle Olubunmi Olanipekun , Najimu Saka

The construction sector (CS) is an economic barometer that mirrors the state of the economy. Therefore, the construction sector is susceptible to economic impacts. This study investigated the impact of economic shocks (measured with the Gross Domestic Product (GDP)) on construction sector performance. The study used econometric methodology which involves several sequential procedure including unit root test, cointegration test, causality and exogeneity tests. The data used was the Annualized time series data about GDP and construction sector. The data were extracted from the United Nations Statistics Division database based on the year 2010 US Dollars price over a forty seven (47) year period (1970-2016). The study found that the GDP significantly caused the construction sector output in all tests investigated. The study concluded that the construction sector significantly responded to economic shocks in both the short and long run. The study recommended that government should develop a policy framework that supports a concurrent development of the economy and the construction sector in Nigeria.

中文翻译:

尼日利亚建筑业对经济冲击的反应

建筑部门(CS)是反映经济状况的经济晴雨表。因此,建筑行业容易受到经济影响。这项研究调查了经济冲击(以国内生产总值(GDP)衡量)对建筑业绩效的影响。该研究使用计量经济学方法论,该方法论涉及几个顺序过程,包括单位根检验,协整检验,因果关系和外生性检验。使用的数据是有关GDP和建筑业的年度时间序列数据。数据是根据四十七(47)年(1970-2016年)期间2010年美元价格从联合国统计司数据库中提取的。研究发现,在所有调查的测试中,GDP显着导致了建筑部门的产出。研究得出结论,无论短期还是长期,建筑行业都对经济冲击做出了重大反应。研究建议政府应制定政策框架,以支持尼日利亚经济和建筑业的同步发展。
更新日期:2019-11-12
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