Empirical Study on Factors Influencing the Development of Construction Industry - Based on Anhui Construction

Abstract

The paper, on the basis of the statistical data from 1980 to 2009 in Anhui province, uses linear regression method, Johansen test, Granger causality test and impulse response function to analyze the internal and external factors affecting the development of construction in Anhui. The results show as follows: the development of Anhui construction industry is characterized with the extensive economic growth pattern; the long-term equilibrium relationship is identified between the added value of the construction industry and its external factors; GDP and the added value of the real estate industry are the Granger causality of the economic development in construction; Real estate industry has made more contributions to driving the development of construction industry than that of GDP. In addition, this thesis gives some suggestions on the development of Anhui construction industry.