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

Author

Listed:
  • Charles Ka Yui Leung

    (Dept of Economics, Chinese University of Hong Kong, Hong Kong)

  • Kelvin S. Wong

    (Dept of Real Estate and Construction, University of Hong Kong, 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 Ka Yui Leung & Kelvin S. Wong, 2004. "The Construction and Related Industries in a Changing Socio-Economic Environment: The case of Hong Kong„X," Discussion Papers 00011, Chinese University of Hong Kong, Department of Economics, revised May 2005.
  • Handle: RePEc:chk:cuhkdc:00011
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    File URL: http://www.econ.cuhk.edu.hk/~discusspaper/00011.pdf
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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:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General

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