Causal relationship between construction investment policy and economic growth in Turkey

Ozkan, Filiz
Ozkan, Omer
Gunduz, Murat
The construction industry in countries experiencing severe economic crisis has vital importance to get out of stagnation because of its direct relations with 200 different sectors. In this study, the relationship between the construction growth data (infrastructure, building and residential (public), building and residential (private) investment) and gross domestic product (GDP) is examined for Turkey. To this end, Engle-Granger cointegration, error correction model (ECM) and Granger causality tests were applied in order to determine the aforementioned relation. It has been found that the infrastructure and building-residential investments have direct relations with the GDP and have causality effects.


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Han, Sedat; Dikmen Toker, İrem; Department of Civil Engineering (2005)
In the global construction market, most construction companies are willing to undertake international projects in order to maximise their profitability by taking advantage of attractive emerging markets and minimise dependence on unfavorable domestic market conditions. In order to be awarded a contract in highly competitive global construction market, companies should excel in choosing the most attractive markets and prepare winning bids for the selected construction projects in those markets. While prepari...
Preparing Civil Engineers for International Collaboration in Construction Management
Soibelman, Lucio; Sacks, Rafael; Akinci, Burcu; Dikmen Toker, İrem; Birgönül, Mustafa Talat; Eybpoosh, Matineh (American Society of Civil Engineers (ASCE), 2011-07-01)
Economic globalization is increasingly affecting both the construction industry and academia. It is changing the traditional roles of civil engineers and construction managers. Cross-cultural collaboration and communication skills, multinational team management skills, the ability to overcome the social challenges of geographically distributed teams, and familiarity with construction materials, standards, and methods of foreign countries are vital for modern construction professionals. However, the traditio...
Foreign ownership, competition, and survival dynamics
Taymaz, Erol (Springer Science and Business Media LLC, 2007-08-01)
The impact of foreign direct investment on host countries' industrial sectors has received considerable attention. It is shown by many researchers that foreign plants are more productive than are domestic ones, but the empirical evidence regarding spillovers is not unambiguous. In this paper, we suggest that the impact of foreign direct investment on local industry hinges on the dynamics of foreign and domestic plants-i.e., on entry and selection (exit) processes. Our analysis of foreign investment and comp...
Using fuzzy risk assessment to rate cost overrun risk in international construction projects
Dikmen Toker, İrem; Birgönül, Mustafa Talat (Elsevier BV, 2007-07-01)
Determination of an appropriate mark-up while bidding for international construction projects is a critical decision. Level of mark-up is a function of risks associated with a project. Construction companies may benefit from a tool that helps them to assess the level of risk so that they can determine an appropriate mark-up. The aim of this paper is to propose a fuzzy risk assessment methodology for international construction projects and develop a tool to implement the proposed methodology. The proposed me...
Quality integrated earned value management for construction projects
Akgün, Eray; Atasoy Özcan, Güzide; Department of Civil Engineering (2019)
Today, construction sector is one of the leading sectors in the world employing millions of people and creating an economy of billions of dollars. Therefore, such a huge sector must be under control during its all stages in terms of its main components namely; cost, time and quality to achieve a unique scope. Numerous studies focus on tracking the components of cost and schedule. One of the most commonly used methods is EVM (Earned Value Management). EVM is a powerful progress measurement method, integratin...
Citation Formats
F. Ozkan, O. Ozkan, and M. Gunduz, “Causal relationship between construction investment policy and economic growth in Turkey,” TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE, pp. 362–370, 2012, Accessed: 00, 2020. [Online]. Available: