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The Construction and Related Industries in a Changing Socio-Economic Environment: The Case of Hong Kong

Author

Listed:
  • Charles K. Leung

    (Department of Economics, Chinese University of Hong Kong, Shatin, Hong Kong)

  • Kelvin S. Wong

    (Department of Real Estate and Construction, The University of Hong Kong, Pokfulam, Hong Kong)

Abstract

Hong Kong is well known for its “housing market bubble”. Both theoretical and empirical studies point to the supply side being the “root of all evil”. This paper takes a preliminary step in understanding the supply side of the Hong Kong market by investigating the construction and related industries. After taking into consideration of the unusual public expenditure, the construction industry seems to be “normal” in international standard. Its relationship with the aggregate economy is also examined. Directions for future research are also suggested.

Suggested Citation

  • Charles K. Leung & Kelvin S. Wong, 2004. "The Construction and Related Industries in a Changing Socio-Economic Environment: The Case of Hong Kong," International Real Estate Review, Global Social Science Institute, vol. 7(1), pages 139-170.
    • Handle: RePEc:ire:issued:v:07:n:01:2004:p:139-170
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    References listed on IDEAS

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    Cited by:

    1. Charles Ka Yui Leung & Joe Cho Yiu Ng & Edward Tang, 2020. "Why is the Hong Kong Housing Market Unaffordable? Some Stylized Facts and Estimations," Globalization Institute Working Papers 380, Federal Reserve Bank of Dallas.
    2. Leung, Charles Ka Yui & Ng, Joe Cho Yiu & Tang, Edward Chi Ho, 2019. "What do we know about Housing Supply? The case of Hong Kong," MPRA Paper 93510, University Library of Munich, Germany.

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    More about this item

    Keywords

    housing; construction; government policy; employment; investment;
    All these keywords.

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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