IDEAS home Printed from https://ideas.repec.org/p/uwa/wpaper/10-05.html
   My bibliography  Save this paper

The Dynamics of New Resource Projects a Progress Report

Author

Listed:
  • Kenneth W Clements

    (UWA Business School, The University of Western Australia)

  • Simon Mongey

    (UWA Business School, The University of Western Australia)

  • Jiawei Si

    (UWA Business School, The University of Western Australia)

Abstract

In its widely-cited Investment Monitor, Access Economics publishes quarterly detailed information on most Australian investment projects that cost more than $5m, including a classification of projects as “possible”, “under consideration”, “committed”, “under construction”, “deleted” or “completed”. We use these rich data to show that the evolution of projects can be conveniently understood in terms of a Markov chain. This framework provides several useful summary measures of the investment system as a whole, including estimates of the probability of a project moving from one state to another over multi-period horizons, likely bottlenecks in the system, the mean time spent in each state, the expected time taken for a project to enter a certain state such as “under construction” or “completed” and the possible implications of “speeding up” the system by regulatory reform. These measures could be of value to project proponents, capital markets and policy makers.

Suggested Citation

  • Kenneth W Clements & Simon Mongey & Jiawei Si, 2010. "The Dynamics of New Resource Projects a Progress Report," Economics Discussion / Working Papers 10-05, The University of Western Australia, Department of Economics.
  • Handle: RePEc:uwa:wpaper:10-05
    as

    Download full text from publisher

    File URL: https://www.business.uwa.edu.au/__data/assets/pdf_file/0004/837166/10-05_THE_DYNAMICS_OF_NEW_RESOURCE_PROECTS.pdf
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Murat Sirin, Selahattin & Ege, Aylin, 2012. "Overcoming problems in Turkey's renewable energy policy: How can EU contribute?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(7), pages 4917-4926.
    2. Kenneth W Clements & Jiawei Si, 2010. "The Investment Project Pipeline Cost Escalation, Lead-Time, Success, Failure And Speed1," Economics Discussion / Working Papers 10-25, The University of Western Australia, Department of Economics.
    3. Halder, Pradipta & Paladinić, Elvis & Stevanov, Mirjana & Orlović, Sasa & Hokkanen, Timo J. & Pelkonen, Paavo, 2014. "Energy wood production from private forests – nonindustrial private forest owners׳ perceptions and attitudes in Croatia and Serbia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 35(C), pages 515-526.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwa:wpaper:10-05. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sam Tang). General contact details of provider: http://edirc.repec.org/data/deuwaau.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.