The Impacts of Standards on the Economic Growth in Construction Industry with the Example of China

DOI

10.2991/aebmr.k.200708.031How to use a DOI?

Keywords

engineering construction standard, construction economy, production function

Abstract

Construction plays a key role in an economy, hence it is of critical importance to push this industry for developing countries suffered by under development. This paper introduces a good example of China in which standards are continuously implemented so as to quickly promote industrial competitiveness in construction section. The authors use the extended Cobb-Douglas production function to testify the relationship between engineering standards and the economic growth in construction industry. The results explain that engineering standards have a significantly positive effect on construction economy when based on the data between 1995 and 2016. A 1% additional capital investment will increase 0.182% output in construction, in contrast with the fact that 1% standard change will stimulate 0.933% output in this section. Construction standards have a strong driving force in the economy, which can supply some enlightenment for other developing countries.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Bowen Xu
AU  - Qifa Jiang
AU  - Wenfang Sun
PY  - 2020
DA  - 2020/07/09
TI  - The Impacts of Standards on the Economic Growth in Construction Industry with the Example of China
BT  - Proceedings of the 4th International Symposium on Business Corporation and Development in South-East and South Asia under B&R Initiative (ISBCD 2019)
PB  - Atlantis Press
SP  - 158
EP  - 162
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200708.031
DO  - 10.2991/aebmr.k.200708.031
ID  - Xu2020
ER  -