Abstract
This study uses the Tornqvist index to estimate the total factor productivity (TFP) for the Singapore construction industry between 1980 and 1996. Throughout the period, the main contribution to real construction output growth was capital accumulation. TFP was found to be negative, indicating that construction productivity growth has not been spectacular, even in a dynamic and rapidly growing economy such as Singapore. The result is in broad agreement with previous estimates of TFP for the entire Singapore economy. A lot needs to be done to improve construction productivity, as the industry cannot continue to grow by increasing factor inputs indefinitely without an accompanying rise in efficiency.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Engineering, Construction and Architectural Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
